Make a Contribution

Initial and Additional Contributions
Anyone can contribute to a Utah Educational Savings Plan (UESP) account. If non-account owners, such as grandparents or aunts and uncles, contribute to the account, only you, the account owner, can control how the assets are invested and used. Contributions can be made by:

You can also rollover money from another 529 plan.
Contributions can not be made in cash.

There is no minimum initial or additional contribution requirements, allowing you the flexibility to better control your financial goals. For additional information on how to contribute, please contact us.

Rollover and Transfer Contributions 
You may also contribute to UESP through a rollover or transfer of assets from another state's 529 plan, another account in UESP, a Coverdell Education Savings Account, or certain qualified U.S. savings bonds issued after 1989. Because limitations might apply, you should consult your tax adviser regarding your particular situation.

Online Account Access
To view your account details online, simply establish a user name and password. Once you are registered, you can manage your account and view your information, quarterly statements, and account activity. Use caution and do not give your online account access information to any unauthorized individuals. To access your investment account or establish account access, click here.

Contribution Limits
For 2009, the maximum aggregate contributions in all UESP accounts for the same beneficiary is $346,500. In addition, beyond the usual $13,000 annual limit on tax-free gifts, account owners can make a special averaging election and contribute up to $65,000 per beneficiary in a single year ($130,000 if filing jointly) without incurring federal gift tax, as long as you don’t make any additional gifts to that beneficiary over the next five years. Any assets you place in a 529 plan are immediately removed from your taxable estate, yet you stay in control.1 You can revoke the gift at anytime, subject to federal and state taxes and penalties. For more information, consult with your estate-planning adviser to learn how this decision will affect your estate.

 

1 Contributions between $13,000 and $65,000 made in one year will be prorated over a five-year period without incurring gift taxes or reducing your unified estate and gift tax credit. The contribution must be reported on IRS Form 709, United States Gift and Generation-Skipping Transfer Tax Form. If the account owner dies before the end of the five-year period, a prorated portion of the contribution will be included in his or her taxable estate.

© 2009 Utah State Board of Regents, all rights reserved.
The terms Utah Educational Savings Plan and UESP are registered service marks.

Investors should read the Program Description and consider all investment objectives, risks, charges, and expenses before investing. The Program Description is available for download on the Web or a hard copy can be mailed to you by requesting it online from this Web site.

FDIC Insurance. Except for the underlying investment specified below, investments in UESP are not insured by the Federal Deposit Insurance Corporation (FDIC). FDIC insurance is provided for the FDIC-insured savings account held in trust by UESP at Zions First National Bank (Bank). Funds in the savings account are insured by the FDIC on a pass-through basis to each account owner up to the maximum amount set by federal law—currently $250,000 through December 31, 2013, and $100,000 thereafter. The amount of FDIC insurance provided to an account owner is based on the total of (1) the value of an account owner’s investment in UESP’s FDIC-insured savings account plus (2) the value of other accounts held (if any) at the Bank, as determined by the Bank and by FDIC regulations.

No Other Insurance and No Guarantees. Investments in UESP are not insured nor guaranteed by the State of Utah, UESP, the Utah State Board of Regents, the Utah Higher Education Assistance Authority, other state agencies, federal government agencies (except to the extent noted above regarding FDIC insurance ), or any employees or directors of any such entities. Units in UESP have not been registered with the United States Securities and Exchange Commission or with any state securities commission.

Account Value. The value of your UESP account may vary depending on market conditions and the performance of the investment option you select. It could be more or less than the amount you contribute; in short, your investment could lose value. However, subject to the application of Bank and FDIC rules and regulations to each account owner, funds in UESP’s FDIC-insured savings account will retain their value, whether in Option 11 or when allocated to portions of Options 2, 7, 8, and 9.

Non-Utah taxpayers and residents: You should determine whether the state in which you or your beneficiary pay taxes or live offers a 529 plan that provides state tax or other benefits not otherwise available to you by investing in UESP. You should consider such state tax treatment and benefits, if any, before investing in UESP.

 

For more details about how our plan works download a copy of our Program Description.

Click here to download a pdf.
Click here to request a mailed copy.