Effective July 1, 2016, the maximum total account balance allowed per Virginia529 beneficiary is increased to $500,000.
This change applies to the combined total balance of all four Virginia529 programs for a single beneficiary. The prior maximum was $350,000.
Once the total balance reaches $500,000, the account(s) continues to accrue earnings. However, there can be no new contributions unless the combined total balance drops below $500,000.