Schwab 529 Savings Plan
Start an education fund for your children or a family member with a Schwab 529 Savings Plan. You can open and contribute to almost any 529 plan, no matter what state you live in and regardless of your age or income.
Schwab 529 clients can make contributions, change investment portfolio selections (twice per calendar year as authorized by the IRS), take withdrawals, and change beneficiaries—as well as perform other account maintenance. Forms are available at schwab.com/forms by selecting the "Topics" Tab and then the "College and Custodial Accounts" option.
The new federal tax law expands the qualified use of 529 savings accounts by allowing withdrawals for K-12 tuition expenses, with a limit of $10,000 per year, per beneficiary. However, individual states may or may not adopt this expanded definition of qualified withdrawals. Clients should consult a qualified tax advisor to discuss their individual situation.
What are the fees and commissions?
- $0 account open or maintenance fees. Other account fees, fund expenses, and brokerage commissions may apply.1
- Minimum required to open an account: $0.
What are the benefits of a Schwab 529 Education Savings Plan account?
With this account, you'll get:
- Tax advantages
- Higher contribution limits than an education savings account
- 24/7 service and support
1. See the Schwab 529 Education Savings Plan Guide and Participation Agreement for comprehensive details on fees and expenses.
- No account service fee – The Schwab 529 Plan has no account service fee or enrollment fee. Other account fees, fund expenses, brokerage commissions and service fees may apply.1
- Portfolio fee – The portfolio fee includes a program management fee plus underlying fund expenses. The annual total portfolio fees for the Schwab 529 Plan range from 0.25% to 1.00%, depending on the investment you select.
Review all our account fees and minimums.
1. See the Schwab 529 College Savings Plan Guide and Participation Agreement for comprehensive details on fees and expenses.
Have questions about the Schwab 529 College Savings Plan? Here are responses to some of the most common questions we hear. If you have a question about your specific situation that is not answered here, please call us at 888-903-3863.
- How do I open this account?
- Do I have to live in a state to participate in that state's 529 plan?
- What happens if my child decides not to go to college or can’t use all the funds?
- How do I invest in a 529 plan?
- Will a 529 plan affect my child’s ability to qualify for financial aid?
- Can I transfer my child's existing custodial account (UTMA/UGMA) into a 529 plan?
It's helpful to have the following information on hand before you begin:
- The Social Security number, date of birth, and address of your designated beneficiary.
- Your Social Security number and date of birth, and the same for any joint account owner.
- If you are setting up automatic deposits, you will need bank account information, including bank routing number, account number, and phone number.
- Planning to fund your Schwab 529 College Savings Plan account from your Schwab brokerage account? Have your Schwab
One® account number ready, and be sure that your brokerage account has checking features included. If you don’t have this information, call 888-903-3863 for help.
Learn more about portfolio options, plan performance, or underlying funds.
- Portfolio Options
- Plan Performance
- Underlying Funds