- $2,000 annual contributions can be made up to the
child's 18th birthday.
- The individual contributing doesn't have to be employed,
but income limitations do apply.
- Withdrawals for qualified educational expenses are
tax-free; all other withdrawals may be subject to a 10% premature
distribution tax and regular income taxes on the earnings.
- Contributions are not tax-deductible.
- Prior tax year contributions will be accepted up until
your tax filing deadline. Extensions do not apply.
- CD early withdrawal penalties may apply.
|
| * Formerly Education
IRA |
| |
| |
