Certificates
This is a deduction once funds are withdrawn from a certificate.
What is a Penalty
Taxes on contributions and earnings are _____ until the funds are ____
Deferred , withdrawn
These are reported on 5497esa
Contributions and Rollover
Irs penalty form
5329
These are reported on 1099INT
non IRA dividends
To have a member must have
what is a SSN
These are reported on a 1099R
What are distributions, excess , recharacterization
withdrawals from the ESA accounts are reported on what form
1099Q
reports dividend on checking saving and mmsa over 10$
1099 INT
How are converted funds moved over ?
As is. unless the member specifies otherwise
IRA Statements are sent
June 30th and Dec 31st
Failure to withdraw an excess can result in a
what is a 6% IRS penalty
benefits of an ESA
can be used for all levels of education
earnings are tax free (as long as the funds are used for qualified educational expense