Get the free Maryland Prepaid College Trust Change of Account Holder Form - collegesavingsmd

This document provides a form for changing the account holder of a Maryland Prepaid College Trust account along with instructions on how to complete it.

How to fill out maryland prepaid college trust

How to fill out Maryland Prepaid College Trust Change of Account Holder Form

1. Obtain the Maryland Prepaid College Trust Change of Account Holder Form from the official website or request it from customer service.
2. Fill in the current account holder's details in the designated fields, including name, address, and account number.
3. Provide the new account holder's information, entering their name, address, and Social Security number or tax ID.
4. Indicate the reason for the change of account holder if required.
5. Sign and date the form where indicated to authorize the change.
6. If necessary, attach any required documentation supporting the change, such as a power of attorney or legal document.
7. Submit the completed form and any additional documents to the Maryland Prepaid College Trust via mail or fax.

Who needs Maryland Prepaid College Trust Change of Account Holder Form?

1. Individuals who wish to change the account holder for a Maryland Prepaid College Trust account, such as parents transferring account ownership to another family member or guardians managing a beneficiary's account.

People Also Ask about

What is the difference between Maryland prepaid college trust and college investment plan?

There are two options available: The Maryland Prepaid College Trust allows you to lock in tomorrow's tuition at today's prices. The Maryland College Investment Plan offers a variety of different investment portfolios managed by T. Rowe Price.

Is the Maryland Prepaid College Trust no longer accepting new enrollments?

An Important Prepaid College Trust Update from Treasurer Davis: As of June 1, 2023, the Maryland Prepaid College Trust is no longer accepting new enrollments.

Does the Maryland 529 accrue interest?

As addressed in last year's Decision Memorandum, soon all contributions and balances in Maryland Prepaid College Trust accounts will earn zero percent interest. The effective date of this change will be July 16, 2024.

Do 529 accounts earn interest?

529s count against you for federal aid “The greater the assets in the plan, the less aid is available from grants, loans and financial scholarships.” It's important to note, however, that the hit to financial aid depends on who owns the account.

Who is the administrator of the Maryland 529 plan?

Maryland 529's plans: The Maryland Senator Edward J. Kasemeyer College Investment Plan (also referred to as the College Investment Plan), launched in 2001 and is managed and distributed by T. Rowe Price, an investment management firm with more than 80 years' experience.

What is the biggest downside to a 529 plan?

If you are the account owner or a contributor, you can subtract up to $2,500 per beneficiary from your Maryland state income for contributions in that calendar year. Contributions in excess of $2,500 per beneficiary can be subtracted for up to the next 10 years.

For pdfFiller’s FAQs

What is Maryland Prepaid College Trust Change of Account Holder Form?

The Maryland Prepaid College Trust Change of Account Holder Form is a document used to officially transfer the ownership of a prepaid college plan account from one individual to another.

Who is required to file Maryland Prepaid College Trust Change of Account Holder Form?

The current account holder who wishes to transfer ownership of the account to another individual must file the Maryland Prepaid College Trust Change of Account Holder Form.

How to fill out Maryland Prepaid College Trust Change of Account Holder Form?

To fill out the Maryland Prepaid College Trust Change of Account Holder Form, provide the account number, details of the current account holder, details of the new account holder, and any other required information as instructed on the form.

What is the purpose of Maryland Prepaid College Trust Change of Account Holder Form?

The purpose of the Maryland Prepaid College Trust Change of Account Holder Form is to facilitate the legal transfer of account ownership, thereby ensuring that the new account holder can manage the prepaid college plan effectively.

What information must be reported on Maryland Prepaid College Trust Change of Account Holder Form?

The form must report the account number, names and contact information of both the current and new account holders, signatures of both parties, and any additional identification details as required by the Trust.