This guide is to help you locate your annual year end statement in order to gather the total amount contributed to your 529 account(s) for the applicable tax year.
There are four main ways you can contribute to a 529 account through American Funds.
You can distribute any amount of money to the account owner for any reason, but only distributions which are reimbursing for qualified education expenses are tax and penalty free.
You can distribute any amount of money to the designated beneficiary for any reason, but only distributions which are reimbursing for qualified education expenses are tax and penalty free.
Any qualified education expense for the benefit of the designated beneficiary which is paid to an eligible educational institution can be paid from the 529 plan directly.