Are you helping your child, grandchild, niece, or nephew save for college in an Indiana 529 College Choice plan? These plans are a great way for Indiana residents to save for their loved ones while also receiving a state tax credit. The maximum tax credit is 20% per household. (On a $5,000 investment, this results in a $1,000 tax credit on your Indiana state return. The maximum credit you can receive is $1,000 per household.)
READ BELOW FOR DETAILS ON MAKING CONTRIBUTIONS TO EXISTING ACCOUNTS AND SETTING UP NEW ACCOUNTS ALONG WITH THE DEADLINES ASSOCIATED WITH THAT TO GET THE STATE TAX CREDIT
If you are adding money to an existing account:
The monies must be invested in the 529 College Choice account by 12/31/21 to receive the tax credit for 2021. This means that your check must arrive and be invested in the account before the end of the year to qualify.
We wanted to remind you of three easy ways to make your contribution.
1) To contribute by check: (We strongly encourage you to mail the check no later than 12/17/2021, the sooner the better to avoid complications with mailing time and processing!)
Send your check payable to College Choice
Standard Mailing Address:
College Choice 529 Direct Savings Plan
PO BOX 219418
Kansas City MO 64121
Overnight Delivery:
College Choice 529 Direct Savings Plan
920 Main St, Suite 900
Kansas City MO 64105
*Be sure to include the account # on the memo portion of the check.
2) To contribute online:
- Go to: https://www.collegechoicedirect.com/
- If you have never logged in, you simply sign up for online access by clicking Login then sign up for online access (This is a hyperlink that will take you to the correct page.)
- Once logged in you can:
- Contribute from your bank account. If your bank isn’t linked, you can link it online.
- Change your bank information: If you want to contribute and the bank that is currently linked needs to be updated; you can change the bank information
- Request a distribution
- Change your address or contact information
- Download statements for your taxes
- Go to: https://www.collegechoicedirect.com/
3) To contribute by phone: (We suggest doing so by 12/23/2021)
You may call College Choice to make the contribution at 1-866-485-9415.
- If you do not have the account # at hand, you will need to provide the account owner’s social security number and personal information, when speaking with the College Choice representative.
To establish a NEW Indiana College Choice 529 Plan:
- Go to: https://www.collegechoicedirect.com/
- Click 'Enroll Now.'
- Follow the steps to open the account and link your bank to make the contribution
Note: if you would like our office to be named as an authorized agent on the account and receive statements; please notify our office after you have opened the account.
Please call the office with any questions.
Respectfully,
Your Team at Financial Plans & Strategies, Inc
“The greatest thief this world has ever produced is procrastination, and he is still at large.”
― Henry Wheeler Shaw