How do my Upromise savings get into my 529 account?
In order for your Upromise savings to be transferred to a qualified 529 account, you must link your Upromise account to your 529 account. Once you have linked a 529 account to your Upromise account, Upromise will automatically transfer contributions to your 529 account. Here’s how: • On a quarterly basis, Upromise will add all of the funded (not pending) contributions in your Upromise account with the contributions that have been allocated to your 529 account beneficiary from your Family & Friends Network. • For the initial transfer, if the total amount of funded contributions is at least $50, Upromise will transfer funds directly to your 529 account. If the contributions for a future student have not yet reached $50, these contributions will remain in your Upromise account, allocated to this student, and will be eligible for transfer during the next calendar quarter. • After the initial transfer, subsequent transfers will happen quarterly as long as the total funded contributions for
Related Questions
- How will my personal account with our current savings plan vendor, which I have set up outside of the savings plan, work after the conversion?
- Can I withdraw company contributions from my Upromise account without transferring them to a savings plan, and if so, how?
- How do my Upromise savings get into my 529 account?
