Coverdell ESAs — Articles

Terminating ESAs at Age 30

One unique feature to a Coverdell Education Savings Account (ESA) is the requirement that the account terminates when the designated beneficiary reaches age 30. If you don’t stay on top of these accounts, you risk not reporting them correctly to the IRS and possibly losing contact with the designated beneficiary.

ESAAscensusFebruary 20, 2025Coverdell ESAs, Coverdell ESA, Compliance and Operations, Education

Q is for Qualified Coverdell ESA Distributions: Helping Your Clients Pay for Education Expenses

If it’s been a while since you’ve worked with Coverdell ESAs, here’s a refresher on the rules and your responsibilities when processing ESA distributions.

ESAAscensusOctober 19, 2023Coverdell ESAs, Coverdell ESA, Regulations, Reporting

Common Coverdell ESA Distribution and Portability Questions

Here are answers to some of the common Coverdell ESA questions we receive from financial organizations.