Section 529 Plan Contribution Limits

Each state sets an aggregate limit for 529 plan balances.

Section 529 plan contribution limits. 529 plan contributions maximum contribution limits. There are no annual contribution limits for 529 plans. Prepaid tuition plan or college savings plan.

529 plan contribution limits by state state contribution limits range from around 200 000 on the low end to more than 500 000 on the high end per beneficiary. Outside of a 529 plan contributions of more than 15 000 per year to any individual would trigger the gift tax. The coverdell esa limits contributions to 2 000 annually and restricts eligibility to those with adjusted gross income of 110 000 or less if single filers and 220 000 or less if filing jointly.

Maximum 529 plan contribution limits by state annual 529 plan contribution limits. However each 529 plan has an aggregate contribution limit ranging from 235 000 to 529 000. Families making a large 529 plan contribution should consider the annual gift tax exclusion amount and find out if they qualify for state income tax benefits.

The regulations would provide that rollovers from 529 plans together with any contributions made to the designated beneficiary s able account other than certain permitted contributions of the designated beneficiary s compensation cannot exceed the annual able contribution limit 15 000 for 2018. This limit applies to the total. On the other hand a college savings plan limits the value of the account for a beneficiary.

For example if the state s limit is 300 000 you can t contribute more than 300 000. Anyone can open and fund a 529 savings plan parents grandparents other relatives and friends. A state s limit will apply to either kind of 529 plan.

And although 529 plan contribution limits are typically high across each state the limits apply to every type of 529 plan account you open per beneficiary. You can save a lot of money in a 529 plan but adding funds too quickly can create complications. For a prepaid tuition plan the state s limit is a limit on the total contributions.