You do not have to create an online account to make a gift. Invest529 offers a guest checkout option that allows you to quickly make a gift using a credit card, debit card or mobile wallet. If you want to make a gift using a linked bank account or want to manage your gifts, you will need to create an online account.
Yes. Credit cards, debit cards, and mobile wallets can be used to purchase a digital gift card or to make a direct contribution using a gift ID.
You don’t have to be an account owner to give a gift. Family, friends, or anyone can contribute to an existing Invest529 account.
Your personal gift ID can be retrieved from the secure Invest529 online account portal. Once logged in, select the Gift Center link in the main navigation. On the Gift Center home page, go to the Find Gift ID section, select the student, and copy your gift ID or shareable link.
You could give up to the maximum allowable account balance across all Invest529 programs, which is $675,000 per student.
Gift cards or direct gifts purchased by credit card, debit card or mobile wallet online at Invest529.com, and gift cards purchased at CVS and H-E-B retail locations and online at Walmart.com, include a service fee to cover distribution and processing. The service fee is paid by the gift purchaser, and the gift recipient receives the gift amount. Invest529 doesn’t charge fees to the gift purchaser or the recipient for making gift contributions via ACH through Invest529’s online Gift Center. However, Invest529 and/or your financial institution may assess fees for rejected transactions or insufficient funds.
Gifts of up to $19,000 per year, or up to $38,000 if married, to any one person are gift tax free.
You should consult a professional concerning any financial, tax or legal implications related to making a gift contribution to an Invest529 account. Invest529 and/or Commonwealth Savers does not provide legal, financial or tax advice to any person making a gift.
U.S. citizens or legal U.S. residents age 18 or older may open an Invest529 account for a student—family member, friend, or even yourself.