Contributing to another kid's 529

[rbp]

So if I wanted to take farmvillelover's suggestion (thanks, BTW!) and get our goddaughter a small Christmas present plus make a contribution to her 529, how would I go about this? Can we contribute directly if we have the right account info, or should I write her parents a check that says "for A's 529" in the memo? The parents are our close friends if that matters.

[rbp]

Dec 18, 2014 15:09:36 GMT -5 farmvillelover said:

I'm assuming you trust that if you gave it to them for that purpose, that's how they'd use it! I like your idea of the check with the 529 note!

Yes I trust them, but I hate to create another chore for them to do if I could make the contribution myself.

[Deleted]

My BIL sent out an email that had a certificate we could print out and mail in a check. I think our 529 has a feature that we can email people and they can contribute online so I'd either ask them to see if there is a "share account info" feature or just write the check.

[arch01]

When people have asked and I've told them to contribute to DS' 529, I forward them the form. Maybe ask how they'd like to handle it.

[undecidedowl]

Our 529s have a thing where I can put in someone's email and it sends them the necessary info to make a direct contribution. My parents contribute that way so they can get the tax benefits.

[shortstax]

I would just send a check, but I'm lazy and don't always want to tell the parents what I want to do beforehand.

[rbp]

Thanks ladies! I know nothing about 529s. We need to get M's set up after the new year!

[AmyRI]

Our 529 has a way to provide a link to people so they can contribute online, so I'd probably ask if theirs has a way to do it online. But your plan sounds totally fine, too, and it's how my family works. They already write checks for child-less siblings and would rather write one more check than have to go online to do it.

[SJ]

I would never be annoyed with you for giving money to DD's 529, regardless of how you do it! Great idea!

[mainelyfoolish]

DH's aunt gives us checks for each of the kids payable to "NextGen" (our state's 529 plan) and I add "FBO Acct#12345" on the same line when I send it in with the deposit slip.