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Opening an Account

How to open a 529 plan with Invest529

How to Open an Invest529 Account

Topics include:

  • Required information
  • Choosing an investment
  • Funding your account

Gather information you will need to open your college savings account:

Account Owner

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

Beneficiary (Student)

  • 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.

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 student 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 must be a resident of Virginia at the time the account is opened.

See all FAQs

Explore Your College Savings Options

Invest529 Calculators

Use these tools to determine future higher education costs and plan your saving strategy.

Portfolio Selection Assistant

Use this handy tool to help narrow down your options.

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.

Authorized Individual

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.

Beneficiary (Student)

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

Designated Survivor

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

Ready to Open an Account?

The first step is creating an online user profile.