{"id":53,"date":"2009-01-07T16:06:29","date_gmt":"2009-01-07T21:06:29","guid":{"rendered":"http:\/\/www.nw-cpa.com\/?p=53"},"modified":"2009-01-07T16:06:29","modified_gmt":"2009-01-07T21:06:29","slug":"irs-permits-changes-in-529-investment-strategy","status":"publish","type":"post","link":"https:\/\/www.nw-cpa.com\/?p=53","title":{"rendered":"IRS Permits Changes in 529 Investment Strategy"},"content":{"rendered":"<p><span style=\"font-family: 'Ariel';\">In a new Notice, 2009-01, 2009-2 IRB, IRS says that for calendar year 2009  only, 529 plans may permit two changes in investment strategy, as well as upon a  change in the designated beneficiary of an account. This new flexibility was  prompted by concerns from 529 plan sponsors that in today&#8217;s market environment  the lack of flexibility in switching investments could imperil many 529  accounts. <\/span><\/p>\n<p><span style=\"font-family: 'Ariel';\">A person can  make nondeductible cash contributions to a Code Sec. 529 plan (known  colloquially as a 529 plan) on behalf of a designated beneficiary to pay for  qualified higher education expenses. The earnings on the contributions build up  tax-free and distributions from a 529 plan are excludable to the extent used to  pay for qualified higher education expenses. A 529 plan is a tax-exempt program  established and maintained by a state (including a state agency or  instrumentality), or one or more eligible educational institutions (including  private ones).<\/span><\/p>\n<p><span style=\"font-family: 'Ariel';\">529 plans have proved to be an extremely popular way to  save for college costs. The College Savings Plan Network estimates that accounts  in these plans represent savings of over $120 billion in more than 11 million  accounts nationwide.<\/span><\/p>\n<p><span style=\"font-family: 'Ariel';\"><br \/>\n<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a new Notice, 2009-01, 2009-2 IRB, IRS says that for calendar year 2009 only, 529 plans may permit two changes in investment strategy, as well as upon a change in the designated beneficiary of an account. This new flexibility was prompted by concerns from 529 plan sponsors that in today&#8217;s market environment the lack &hellip; <a href=\"https:\/\/www.nw-cpa.com\/?p=53\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">IRS Permits Changes in 529 Investment Strategy<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-53","post","type-post","status-publish","format-standard","hentry","category-federal-income-tax"],"_links":{"self":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/53","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53"}],"version-history":[{"count":8,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/53\/revisions"}],"predecessor-version":[{"id":61,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/53\/revisions\/61"}],"wp:attachment":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}