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Federal Tax Update
On December 20, 2019, the federal Further Consolidated Appropriations Act of 2020 was signed into law. It includes new provisions that allow 529 Plan account owners to withdraw assets to pay for certain apprenticeship programs and to pay principal and interest on qualified higher education loans for the beneficiary or any of the beneficiary’s siblings.  The loan repayment provisions apply to repayments up to $10,000 per individual.  These withdrawals will have no federal tax impact. It has not yet been determined whether these types of withdrawals will have New York State income tax consequences. 
 
This Act is effective for distributions made after December 31, 2018. The new federal law continues to be evaluated as does the tax impact in New York. Additional updates will be posted on this website.  Account owners are encouraged to consult a qualified tax advisor about their personal situations.

Strategies to Fund Your College Mission

January 17, 2020

Hear the latest from Michael Conrath, Head of Education Savings at JP Morgan Asset Management, about the three key ways to keep up with the rising cost of college.

529-related Insights

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Phone

Investor Service Center: 1-800-774-2108

Advisor Service Center: 1-855-JPM-6657
(1-855-576-6657)

Service Center Hours: Monday through Friday, 8:00 a.m. to 7:00 p.m. EST




Email

For general questions, please email us at ny.529advisor@jpmorgan.com. We will respond to you within one business day. For your protection, please do not include your account number, Social Security Number or other sensitive information in your email message.




General correspondence

Regular Mail:

New York's 529 Advisor-Guided College Savings Program
P.O. Box 55498
Boston, MA 02205

Overnight Mail:

New York's 529 Advisor-Guided College Savings Program
95 Wells Avenue
Suite 155
Newton, MA 02459