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A 529 plan, available through PNC Investments, is a tax-advantaged investment vehicle designed to encourage saving for the future education expenses of the plan's beneficiary.
Your investment accumulates tax-deferred, and qualified withdrawals are not subject to federal (and some state) income taxes
There are no income restrictions, assets are the property of the account owner, and the account owner can change the beneficiary at any time
The account owner can decide when withdrawals are made, and for what purpose
A 529 plan is a tax-advantaged investment vehicle (typically sponsored by states or state agencies) designed to encourage saving for the future education expenses of the plan’s beneficiary. A 529 plan can be used to pay for qualified education expenses at most accredited colleges and universities, as well as tuition expenses at both public and private elementary and secondary schools (K-12). 529 plans can also be used for certain apprenticeship programs or to pay principal or interest on a qualified education loan. There is no cap for qualified college expenses. For K-12 tuition there is an annual cap of $10,000. For apprenticeship programs or loan payments, there is a lifetime cap of $10,000 per beneficiary.
Pricing & Fees
For pricing and fee information, please contact PNC Investments or see the PNC Investments Overview of Products and Services.
Gift Tax Exclusion
Contributions to a 529 plan qualify for the annual federal gift tax exclusion, up to $15,000 for 2021. You may elect to pre-fund the plan with a lump-sum payment over five years (free of gift tax) according to the five-year election provision:
With a 529 plan, in most cases, the beneficiary of the account does not have rights to the assets in the account; assets are property of the account owner. The account owner may change the beneficiary of the funds at any time, though this is limited to a first cousin or closer relative (to avoid tax consequences).
You may select from the investments offered by the 529 plan; the plan manager determines the investment of assets. Investments accumulate tax-deferred and funds can be withdrawn at any time.
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This material is meant to educate and not to provide legal, tax, accounting or investment advice. PNC Investments and its affiliates and vendors do not provide legal, tax or accounting advice.
Important Investor Information: Brokerage and insurance products are:
Not FDIC Insured • Not Bank Guaranteed • Not A Deposit
Not Insured By Any Federal Government Agency • May Lose Value
Securities products, brokerage services and managed account advisory services are offered by PNC Investments LLC, a registered broker-dealer and a registered investment adviser and member FINRA, and SIPC. Annuities and other insurance products are offered through PNC Insurance Services, LLC, a licensed insurance agency.
This document provides information on additional compensation that PNC Investments receives from certain mutual fund companies, 529 plan program managers and insurance companies.
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