While anyone can make a contribution, all payments made to a VEST account are deemed to come from the account owner for all tax reporting and other administrative purposes. The total value of all accounts for a single beneficiary in all section 529 plans administered by the VCSP (VPEP, VEST, CollegeAmerica, and CollegeWealth) is limited to $350,000.
Account owners can make contributions to their VEST account in the following ways:
- Check or money order at any time
- Payroll deduction (if offered by the employer)
- Automatic deduction from a checking or savings account