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Opening an Account

Get started with Invest529 in just a few easy steps

Opening an Invest529 Account

Topics include:

  • Required information
  • Choosing an investment
  • Funding your account

Gather information you will need to open your account:

Account Owner

  • Current address
  • State-issued identification information (such as a driver’s license)
  • Social Security number

Beneficiary

  • Current address
  • Social Security number
  • Date of birth

Designated Survivor

  • Current address
  • Telephone number
  • Social Security number

Ready to Open an Account?

The first step is creating an online user profile.

Invest529 FAQs

Yes, this type of transfer is called a rollover. The account owner should first open an Invest529 account and then complete the Move Funds or Change Investment Portfolio process online, which authorizes Virginia529 to request the rollover from another 529 plan (also known as a qualified tuition program).

Funds may also be rolled over from Coverdell Education Savings accounts or Qualified U.S. Savings Bonds. See the Invest529 Program Description for more information.

Yes, but the unborn child cannot be the beneficiary of the account. The account owner must provide the name and Social Security number or individual Taxpayer Identification Number of the beneficiary at the time of application. This prevents parents from opening a 529 plan for a child before the baby is born.

However, an account owner can make themselves the beneficiary of the account and once the child is born and a Social Security number has been assigned to the child, the account owner can request to change the account beneficiary from themselves to the child.

Account owners must be 18 years of age or older and a U.S. citizen or legal U.S. resident to open a Virginia529 account, while the beneficiary must be a U.S. citizen or legal U.S. resident. The account owner may also be a U.S. trust, corporation, partnership, nonprofit organization, custodian, guardian or other entity.

To open a Tuition Track Portfolio account, either the account owner or the student beneficiary must be a resident of Virginia at the time the account is opened.

See all FAQs

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Invest529 Calculators

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View Portfolio Performance

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Ready to Open an Account?

The first step is creating an online user profile.

Key Terms:

Account Owner

An individual who is 18 years of age or older and a U.S. citizen or legal U.S. resident who controls the account assets and distributions. The account owner generally may also be a U.S. trust, corporation, partnership, nonprofit organization, custodian, guardian or other entity.

Beneficiary

The individual who will benefit from the Virginia529 account. A beneficiary must be a U.S. citizen or legal U.S. resident.

The person named by the Account Owner to assume account ownership in the event of the Account Owner’s death.

An individual who is authorized to receive information on an account, such as an account statement, but does not have any control or authority to act on the account. In many situations, spouses and/or financial advisors may be named as an Authorized individual.

Ready to Open an Account?

The first step is creating an online user profile.