Current through Register Vol. 47, No. 6, September 18, 2024
(1)
Appropriate forms must be completed on paper, online or via
telephone (whichever is applicable for the requested actions) to perform the
actions listed below. Current forms are available online at
www.collegesavingsiowa.com for
college savings Iowa and at www.iowaadvisor529.com for the Iowa
advisor 529 plan. Actions which require the completion of an appropriate form
include the following:
a. Participation.
(1) Open or close an account.
(2) Reserved.
b. Account changes.
(1) Update the participant or beneficiary
contact information.
(2) Change the
beneficiary.
(3) Add, change or
remove a successor or interested party.
(4) Transfer ownership rights of an account
to another person.
c.
Investment changes.
(1) Exchange existing
investments.
(2) Change the
direction of future contributions.
d. Contribution changes.
(1) Establish, delete or change automatic
investments or payroll deduction.
(2) Establish, delete or change banking
information.
(3) Establish or make
an electronic bank transfer or an additional purchase by check.
(4) Transfer funds from a qualified U.S.
savings bond, education savings account or another 529 plan (directly or
indirectly).
e.
Withdrawals.
(1) Request a full or partial
withdrawal.
(2) Request a qualified
rollover.
f.
Authorization.
(1) Establish, delete or change
an authorized agent, limited power of attorney or power of attorney on an
account.
(2) Authorize or change a
financial advisor or agent who can obtain information regarding the
account.
(3) Identify the current
trustee of a trust.
(4) Identify
officers of an organization who can act upon an
account.
(2)
The contractor may from time to time provide additional forms for use by
participants and beneficiaries in connection with actions involving a plan and
will make those forms available online and in paper format and may authorize
substitute forms for a plan or a process in lieu of existing
forms.
