Mississippi Administrative Code
Title 23 - Division of Medicaid
Part 103 - Resources
Chapter 4 - Countable Resources
Rule 23-103-4.11 - 529 Plan
Universal Citation: MS Code of Rules 23-103-4.11
Current through September 24, 2024
A. This is a state-sponsored investment program in which parents may fund accounts to pay for a child's college education.
B. Parents are owners and the account is considered a resource.
1. Withdrawal for reasons other than to pay
for qualified college education is subject to income tax and an additional 10%
penalty.
2. Account statements may
be used to verify ownership and value of a 529 Plan..
Social Security Act §1902 (r) (2); 42 CFR §435.601(b) (Rev 1994).
Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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