529 Plan Funding Sources
Funding Action: One-Time Bank Transfer
From Internal Account
- How long will it take: Real-time
- How to Submit:
- Used to move money between your linked banking and investment accounts:
- Navigate through menu tab: Accounts -> Transfer Money & Securities -> Cash
- To link your existing account to your NextGen 529 account you can click the banner titled “Sign up for convenient one-click access to your accounts” located below the Welcome greeting on the account summary page
From External Account
- How long will it take: 1-4 days
- How to Submit:
- Used to move money between your external bank accounts:
- Navigate through menu tab: Accounts -> Transfer Money & Securities -> Cash
- Not all external banks participate in third-party linking services – if your bank
Funding Action: Recurring Contributions from Bank
From Internal Account
- How long will it take: Real-time
- How to Submit: Used to set recurring contributions from your accounts:
- Navigate through menu tab: Accounts -> Transfer Money & Securities -> Cash
- Set desired frequency
From External Account
- How long will it take: Requests must be received at least 10 business days before the specified start date in order for contributions to begin as elected. Late requests will begin in the following period.
- How to Submit: Used to establish recurring contributions from your external bank accounts to your NextGen 529 account:
- Navigate through menu tab: Help & Settings -> Forms & Applications
- Search for NextGen AFS Enrollment and Change Authorization Form – complete form
- Copy of voided check required Note: A hard copy can also be mailed upon request
- Eligible for 3rd party contributions: Participant and third-party contributor signature required on the form, the original signed form is required. An electronic signature is not acceptable for third-party contributions.
Funding Action: Mobile Check Deposit
- How long will it take: 1-3 days to credit account
- How to Submit: Mobile Deposit for iPhone, iPad, iPod Touch, and Android allows Consumer Investments clients to deposit checks to their eligible investment or banking account directly from their supported mobile device. To initiate a deposit on the device, you will access the feature by tapping Check Deposit from either the Menu or global navigation bar in the app. Follow on-screen instructions to complete the deposit.
Funding Action: Check
- How long will it take: 1-3 days to credit account
- How to Submit: Used to make a one time contribution to an account (excluding rollover checks):
- Mail check to 221 River St, Suite 1000, Attn NICE, Hoboken, NJ, 02070
- Make check payable to: NextGen 529 FBO (Name of Designated Beneficiary)
- Include the 8 digit account number in the memo line if possible
- Eligible for 3rd party contribution.
Funding Action: Rollover
- How long will it take: 10-15 days
- How to Submit: Used to rollover assets from another state’s section 529 Program, Coverdell ESA, or qualifying savings bonds (account titling must match the participant and beneficiary listed on the rollover plan):
- Navigate through the online menu tab: Help & Settings -> Forms & Applications
- Search for NextGen 529 Incoming Rollover Form – complete the form
- Contact your contra firm to request check made payable to: NextGen 529 FBO (designated beneficiary) Account # (NextGen 529 Account #)
- Delivery instructions available on NextGen 529 Incoming Rollover Form
- Note: A hard copy can also be mailed upon request.
Funding Action: Payroll Deduction
- How long will it take: 1– 3 days for our bank processing, plus the length of time it takes for your employer to process the instructions
- How to Submit: Used to establish contributions directly through a payroll deduction:
- Step 1
- Navigate through the online menu tab: Help & Settings -> Forms & Applications
- Search for NextGen 529 Payroll Deduction Form – complete the form
- Step 2
- Once the form is processed, a letter will be delivered to your online account inbox and also sent to your mailing address
- Step 3
- Provide your employer with a copy of the letter generated by our bank which contains the necessary information to update your payroll with requested 529 allocation
- Step 1
- Eligible for 3rd party contributions: The letter we generate (Step 2) will be mailed to the participants address only. The participant must provide the 3rd party with the letter so they can complete Step 3.
Additional Information
To link your existing banking account to your NextGen 529 account you can click the banner titled “Sign up for convenient one-click access to your accounts” located below the Welcome greeting on the account summary page.