USAA 529 College Savings Plan Change of Designated Beneficiary Form

Transcription

1 USAA 529 College Savings Plan Change of Designated Beneficiary Form Note: This form should not be used to change the Designated Beneficiary of an UGMA/UTMA Plan account. The custodian will not be able to change the designated beneficiary of the account (directly or by means of a rollover distribution), except as may be permitted by applicable UGMA/UTMA law. Please complete this form to change the Designated Beneficiary of your USAA 529 College Savings Plan (Plan) account. This action will also require a new Account Application. Please use one form for each Plan account. For help completing this form, call toll-free at (800) , Monday through Friday, 7:30 a.m. to 8:00 p.m. Central Time and Saturday from 8:00 a.m. to 5:00 p.m. Central Time or visit us at usaa.com. IMPORTANT INFORMATION. Federal law requires us to obtain, verify, and record your name, address, date of birth, and other information that will allow us to identify you when you open an account and in certain other circumstances. 1. Current Account Information (please print) Note: Social Security Numbers or taxpayer ID numbers are required in order for any request to be processed. Account Number Account Owner Account Owner/Trustee First Name MI Last Name Name of Trust (if applicable) Account Owner Social Security/Trust Taxpayer ID Number Account Owner USAA Number (if any) Physical Address (P.O. Box or private mailbox cannot be accepted.) Daytime Phone Evening Phone Current Designated Beneficiary Designated Beneficiary First Name MI Last Name

2 2. New Designated Beneficiary Information (please print) All information is required in order to process your change of beneficiary request. USAA 529 College Savings Plan Change of Designated Beneficiary Form The new Designated Beneficiary must be a member of the family of the current Designated Beneficiary, as defined by Section 529 of the Internal Revenue Code and the applicable regulations described in the Plan Description and Participation Agreement. If the new Designated Beneficiary is NOT a member of the family (of the current Designated Beneficiary), you must instead complete a USAA 529 College Savings Plan Distribution Request Form, as the transaction will be considered a non-qualified withdrawal that is subject to income tax and a 10 percent additional tax on earnings. Designated Beneficiary First Name MI Last Name Social Security Number Date of Birth (mm/dd/yyyy) Relationship to Current Designated Beneficiary USAA Number (if any) of Designated Beneficiary 3. Account Instructions (Check one below.) Note: If the amount you want transferred exceeds the maximum contribution allowance (refer to the USAA 529 College Savings Plan Description and Participation Agreement), the excess will remain in your account for your current Designated Beneficiary. If the transfer of the entire balance is completed, the account for the current Designated Beneficiary will be closed. Transfer Entire Balance. The Designated Beneficiary on your account will change and a new account number will be assigned. Have you established an account for the new Designated Beneficiary? (Check one.) Yes Account Number No, (You must open a new Plan account for the new Designated Beneficiary by submitting it with a new Account Application with this form.) Transfer Partial Balance. We will keep your account open for the original Designated Beneficiary. The dollar amount or percentage you specify below will be transferred to the new Designated Beneficiary s account. Note: If you are invested in more than one investment option, the dollar amount or percentage will be taken out on a proportional basis from each investment option. $,. Dollar Amount or Percentage Have you established a Plan account for the new Designated Beneficiary? (Check one.) Yes Account Number No, (You must open a new Plan account for the new Designated Beneficiary by submitting it with a new Account Application with this form.)

3 USAA 529 College Savings Plan Change of Designated Beneficiary Form 4. Signature To initiate any change, you must sign and date here. I certify that the new Designated Beneficiary is a member of the family of the current Designated Beneficiary as defined by Section 529 of the Internal Revenue Code, and that the instructions and information provided herein are true, complete, and correct and comply with the terms set forth in the Plan Description and Participation Agreement which I have read and agree with the terms set forth therein, and comply with applicable law. Also, I understand and agree that I am solely responsible for any applicable federal and state taxes and penalties (including income tax, gift tax, and generation-skipping transfer taxes) which I may be subject to as a result of this change of Designated Beneficiary. X Account Owner/Trustee signature Please print name Date X Co-Trustee signature (sign only if a trust account) Please print name Date (If a Trust is the account owner, all Trustees must sign this form.) Mailing address: USAA 529 College Savings Plan P.O. Box Boston, MA For overnight delivery or registered mail, send to: USAA 529 College Savings Plans 95 Wells Ave Ste 155 Newton, MA

4 USAA 529 College Savings Plan Account Application Please complete this form to establish your USAA 529 College Savings Plan (Plan) account. For help completing this form, call toll-free at (800) , Monday through Friday, 7:30 a.m. to 8:00 p.m. Central Time and Saturday from 8:00 a.m. to 5:00 p.m. Central Time or visit us at usaa.com. IMPORTANT INFORMATION. Federal law requires us to obtain, verify, and record your name, address, date of birth, and other information that will allow us to identify you when you open an account and in certain other circumstances. If you are establishing an account as attorney-in-fact on behalf of the Account Owner, contact USAA for instructions to properly establish the account. The Minimum Initial Contribution is $250 per account beneficiary or $50 initial contribution, if you elect to have electronic contributions of at least $50 per month through an automatic investment plan. 1. Registration and Account Owner Information. (please print) Check one of the Account types below. Individual, I am opening a new 529 plan Account. Uniform Gifts/Transfers to Minors Act (UGMA/UTMA): Read Section 8. Please indicate state in which UGMA/UTMA was opened. Trust: We require the Name/Date of Trust, Names of Trustees, Trustors and Successor Trustees, Trustee Powers and Signature page of your trust documents to properly establish the Plan account. Begin with Section 2. Account Owner/Custodian First Name MI Last Name Account Owner Social Security Number Account Owner Date of Birth (mm/dd/yyyy) Account Owner USAA Number (if any) Are you a U.S. citizen? Yes No Are you a Resident Alien? Yes No (Nonresident aliens are not eligible to participate in the Plan.) If no, please specify country of citizenship. Address Physical Address (P.O. Box or private mailbox cannot be accepted.) Mailing Address (if different from Physical Address) Daytime Phone Evening Phone 1

5 2. Designated Beneficiary Information (required) This information is required in order to establish your account. Designated Beneficiary First Name MI Last Name Beneficiary Social Security Number Is Designated Beneficiary a U.S. citizen? Yes No Is Designated Beneficiary a Resident Alien? Yes No (Nonresident aliens are not eligible to participate in the Plan.) Beneficiary Date of Birth (mm/dd/yyyy) If no, please specify country of citizenship. Check if Designated Beneficiary s Physical Address is same as Account Owner Physical Address (P.O. Box or private mailbox cannot be accepted.) Relationship to Account Owner USAA Number (if any) of Designated Beneficiary 3. Designation of Successor Account Owner An individual Account Owner may designate a Successor Account Owner to automatically assume control of the account upon the Account Owner s death (and submission of a certified death certificate) or legal incompetence by completing this Section 3. To Designate a Successor Account Owner for UGMA/UTMA accounts, please complete the Designation of Successor Account Owner (as Custodian) for UGMA/UTMA Account Form. Note: Plan accounts registered as Trust accounts may not designate a Successor Account Owner. Successor Account Owner/Trustee First Name MI Last Name Relationship to Account Owner Successor Date of Birth/Date of Trust (mm/dd/yyyy) USAA Number (if any) Name of Trust (if applicable) Physical Address (P.O. Box or private mailbox cannot be accepted.) Mailing Address (if different from Physical Address) Daytime Phone Evening Phone 2

6 4. Trust/Trustee Information (Complete if Trust is owner.) Name of Trust (if applicable) Trust Taxpayer ID/Social Security Number Date of Trust (mm/dd/yyyy) Trustee First Name MI Last Name Trustee Social Security Number Trustee Date of Birth (mm/dd/yyyy) Trustee USAA number (if any) Is Trustee a U.S. Citizen? Yes No Is Trustee a Resident Alien? Yes No (Nonresident aliens are not eligible to participate in the Plan.) If no, please specify country of citizenship. Trustee Physical Address (P.O. Box or private mailbox cannot be accepted.) Trustee Mailing Address (if different from Physical Address) Trustee First Name MI Last Name Trustee Social Security Number Trustee Date of Birth (mm/dd/yyyy) Trustee USAA number (if any) Is Trustee a U.S. Citizen? Yes No Is Trustee a Resident Alien? Yes No (Nonresident aliens are not eligible to participate in the Plan.) If no, please specify country of citizenship. Trustee Physical Address (P.O. Box or private mailbox cannot be accepted.) Trustee Mailing Address (if different from Physical Address) 3

7 5. Investment Options (Check all that apply.) Your initial contribution to your USAA 529 College Savings Plan account will be invested based on your portfolio selection below. Please complete one Application per account beneficiary. See the Plan Description and Participation Agreement for details. Note: You can choose from ten Fixed Allocation portfolios, an Age-Based Option or a combination of both. Any future contributions will go toward purchasing Trust Interests of the selected portfolio mix until changed. The Minimum Initial Contribution is $250 per account beneficiary or $50 initial contribution, if you elect to have electronic contributions of at least $50 per month through an automatic investment plan. Minimum allocation per option must be at least 5 of the initial contribution amount. The total must equal 100. Your selection(s) below will be valid for current and future allocations until changed. Age-Based Option Contributions are invested in a Portfolio based upon the birth date of the designated beneficiary, as indicated on this account application. As time passes and the designated beneficiary approaches college age, investments are automatically moved to more conservative Portfolios as the expected time for disbursement approaches. The Preservation of Capital Portfolio is not one of the portfolios included in the Age-Based Option. Refer to the USAA 529 College Savings Plan Description and Participation Agreement for more details. Fixed Allocation Options Portfolios invest in one or more underlying USAA mutual funds which are selected to meet the investment objective of that portfolio. Refer to the USAA 529 College Savings Plan Description and Participation Agreement for more details. Very Aggressive Portfolio Aggressive Growth Portfolio Growth Portfolio Moderately Aggressive Portfolio Moderate Portfolio Moderately Conservative Portfolio Conservative Portfolio Very Conservative Portfolio In-College Portfolio Preservation of Capital Portfolio Total Must Equal

8 6. Initial Contribution Methods (Check all applicable methods.) Initial contributions to your account may be made in the form of a check, a transfer from an existing USAA Mutual Fund or USAA Brokerage account, or Rollover Contribution. The Minimum Initial Contribution is $250 per account beneficiary or $50 initial contribution, if you elect to have electronic contributions of at least $50 per month through an automatic investment plan. Personal Check $ (Check should be made payable to USAA 529 College Savings Plan.) Electronic Funds Transfer (EFT) You can purchase shares in the designated portfolio with payment from your designated bank account. $ electronically transfer funds from the account listed in Section 7. Funding from an existing USAA Investment Management Company non-retirement account A USAA 529 College Savings Plan Incoming Transfer/Rollover Form is required. Rollover from another 529 account from another financial institution A USAA 529 College Savings Plan Incoming Transfer/Rollover Form is required. Rollover from a Coverdell Education Savings Account/Qualified U.S. Savings Bond All investments held by current Coverdell ESA Custodian and Qualified U.S. Savings Bonds must be liquidated before establishing the account. The entire contribution will be treated as earnings unless we receive appropriate documentation as described in the Plan Description and Participation Agreement. 7. Subsequent Contribution Methods (Check all applicable methods.) Subsequent contributions of $50 or more may be made at any time. Automatic Investment Plan (AIP) You can make automatic purchases from your bank account into your USAA 529 College Savings Plan account. Amount invested each period ($50 minimum) $,. Investment Frequency: Once a month on the day of the month or Twice a month on the and days of the month. Allow at least three (3) business days prior to the indicated start date; otherwise, debits from your bank account will begin the following month on the day specified. If no date is chosen, your account will be debited on the 15th day of the month. If the date(s) you choose falls on a weekend or holiday, your AIP purchase will occur on the next business day. If you are interested in establishing a third-party Automatic Investment Plan (AIP), please contact a Financial Advisor at (800) for more details. Electronic Funds Transfer (EFT) Please check the box to confirm that your ACH transactions will not involve a bank or other financial services company, including any branch or office thereof, located outside the territorial jurisdiction of the United States. Name of Financial Institution Checking Type of Account Savings Name of Account Owner Transit Routing Number (The nine-digit number in lower left corner of check) Account Number Payroll Deduction (optional) Please indicate below whether or not you are a government or non-government employee. After the application is processed, you will be sent paperwork which you will take to your payroll/finance office. Please check with your employer before choosing this option. Government employee Non-government employee $ Payroll Amount To establish account options by EFT at any time, your bank account registration MUST have at least one name in common with your USAA 529 College Savings Plan Account Owner. If a voided bank check is not enclosed with this application, but you do include a personal investment check, we will use the bank information contained on the personal investment check to establish a requested AIP. The Plan, Ascensus Broker Dealer Services, Inc. ( Program Manager ), USAA and any of their affiliates, including any officers, directors, employees, or agents of these entities will not be responsible for any loss, cost or delays as a result of banking system delays beyond their control. You authorize your bank to honor all entries to your bank account initiated through BNY Mellon Bank on behalf of the Plan. You understand and agree that neither the Program Manager nor USAA will be liable for acting upon instructions believed genuine and in accordance with the procedures described in the Plan Description and Participation Agreement or the rules of the Automated Clearing House. You further agree that any such authorization, unless previously terminated by your bank in writing, is to remain in effect until the Program Manager receives and has a reasonable amount of time to act upon a subsequent notice. 5

9 8. UGMA/UTMA Custodial Accounts If I am funding this account with cash proceeds from the sale of assets held in an UGMA/UTMA custodial account for the benefit of the Designated Beneficiary of this account, I am doing so in my capacity as custodian for the Designated Beneficiary. I understand as custodian for the UGMA/ UTMA 529 Plan account, this account is subject to certain requirements and restrictions as set forth in the Plan Description and Participation Agreement including the inability to change the Designated Beneficiary for this account, or to make withdrawals other than for the benefit of the Designated Beneficiary as permitted under the laws governing the UGMA/UTMA custodial account. I understand that these same restrictions apply to other contributions I make into this Plan account, regardless of the source of funds. 9. Account Agreement and Signature (Required) I represent that I am of legal age and have legal capacity to open this account and to make contributions and purchases in this Plan account. I have received, read, and agree to the terms set forth in this Application and the Plan Description and Participation Agreement, and will retain a copy of these documents for my records. I understand that the Plan Description and Participation Agreement may be amended from time to time and I understand and agree that I will be subject to the terms of those amendments. I certify that I am opening the Account to provide funds for the qualified higher education expenses of the Designated Beneficiary. I hereby certify that all of the information contained in this Application and all information I provide in the future is true, complete and correct, and I authorize that an Account be established and operated based on this information. I understand that the account may be subject to fees and expenses as described in the Plan Description and Participation Agreement. If AIP and/or EFT is selected, I authorize the Program Manager or its affiliates to begin, and the financial institution provided above or on the enclosed voided check or deposit slip to accept, electronic deposits (credits) and withdrawals (debits) to my designated Plan account and to reverse, if necessary, any deposits or withdrawals made in error to my Plan account. Automated debit or credit entries shall constitute my receipt for the transaction(s). I acknowledge that the origination of ACH transactions involving Plan account must comply with U.S. law. This authority is to remain in full force and effect until the Program Manager or its affiliates has received written notification from me, or I have provided telephone notification to USAA, of its termination at such time and in such manner as to give the Program Manager reasonable opportunity to act on it. I acknowledge that the USAA 529 College Savings Plan is required by law to obtain certain personal information from me, which will be used to verify my identity. My account may not be opened if I do not provide this information. I further acknowledge that the USAA 529 College Savings Plan reserves the right to close my account, or take other reasonable steps, if it is unable to verify my identity. Applications without a signature and/or Social Security Number or Tax Identification Number will not be accepted until the signature or other required information is provided. THIS ACCOUNT IS GOVERNED BY A PRE-DISPUTE ARBITRATION CLAUSE, WHICH IS CONTAINED IN THE PARAGRAPH ENTITLED ARBITRATION IN THE PARTICIPATION AGREEMENT. I ACKNOWLEDGE RECEIPT OF THE PRE-DISPUTE ARBITRATION CLAUSE. Please Print Name Date X Account Owner/Trustee/Custodian Signature Please Print Name Date X Co-Trustee Signature (If a Trust is the account owner, all Trustees must sign this application.) 6

10 Mailing address: USAA 529 College Savings Plan P.O. Box Boston, MA For overnight delivery or registered mail, send to: USAA 529 College Savings Plans 95 Wells Ave Ste 155 Newton, MA