Get the free Florida 529 Savings Plan

This form allows account owners to add a survivor to their Florida 529 Savings Plan account.

How to fill out florida 529 savings plan

How to fill out Florida 529 Savings Plan

1. Visit the official Florida 529 Savings Plan website.
2. Select 'Open an Account' to start the application process.
3. Choose the type of plan you want to set up (e.g., a prepaid plan or a savings plan).
4. Fill out the required personal information for account holders, including Social Security numbers.
5. Select the investment options that best fit your financial goals.
6. Set up contribution amounts and frequency.
7. Review the account agreement and terms of the plan.
8. Submit your application and initial deposit.

Who needs Florida 529 Savings Plan?

1. Parents or guardians who want to save for their child's future education costs.
2. Individuals looking to invest in a tax-advantaged savings plan for educational expenses.
3. Grandparents or family members wishing to contribute to a child's education savings.
4. Anyone planning on attending college or vocational school and needing assistance with funding.

People Also Ask about

Is a 529 plan worth it in Florida?

A Florida 529 Savings Plan is a flexible, affordable, tax-free way to save for college. Saving a little at a time adds up to big college savings!

What is the biggest downside to a 529 plan?

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.

How does a 529 plan work in Florida?

What is an Investment 529 Plan? It's a flexible way to save and invest for a wide variety of higher education expenses. You choose how much to save and how often, plus you select and manage your investment options. And the bonus — your earnings grow tax-free.

What is the maximum contribution to a 529 plan in Florida?

529 contribution limits StateContribution limit Delaware $350,000 Florida $418,000 Georgia $235,000 Hawaii $305,00047 more rows • May 29, 2025

Is a 529 plan worth it in Florida?

A Florida 529 Savings Plan lets you grow K-12 and college savings tax-free and has some of the lowest fees in the nation, putting your child on the path to a brighter, debt-free future. If your child can dream it, you can save for it.

What is the maximum I can contribute to my child's 529?

Annual gift tax limits. Contributions to a 529 plan are considered gifts by the IRS. If you make a contribution that exceeds the annual gift tax exclusion – $19,000 for single filers, $38,000 for married couples filing jointly in 2025 – you will need to file a gift tax return.

How much can you put in a 529 plan in Florida?

There are no annual contribution limits for Florida 529 plans, other than the annual gift tax exclusion and 5-year gift-tax averaging. Florida 529 plans have a high cumulative contribution limit of $418,000 per beneficiary.

For pdfFiller’s FAQs

What is Florida 529 Savings Plan?

The Florida 529 Savings Plan is a tax-advantaged savings plan designed to encourage saving for future education costs. It allows individuals to invest money that can be used for qualified higher education expenses in a tax-efficient manner.

Who is required to file Florida 529 Savings Plan?

Generally, individuals who wish to claim tax benefits or distributions related to the Florida 529 Savings Plan may need to file. Specifically, account owners and beneficiaries using the funds for education expenses should maintain accurate records but may not need to file a separate tax form solely for the plan.

How to fill out Florida 529 Savings Plan?

To fill out the Florida 529 Savings Plan application, you need to provide personal information such as the account owner's name, Social Security number, and contact details, as well as information about the beneficiary, including their name and date of birth. The application can often be completed online through the official Florida 529 website.

What is the purpose of Florida 529 Savings Plan?

The purpose of the Florida 529 Savings Plan is to provide families with a tax-advantaged way to save for post-secondary education expenses. This includes tuition, fees, room and board, and other qualified education expenses at eligible institutions.

What information must be reported on Florida 529 Savings Plan?

Account holders must report contributions, distributions, and any earnings on investments. Tax form 1099-Q is generally used to report distributions from the plan, which should include details such as the amount distributed, earnings, and basis in the account.