529 Tutorials

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.