New York 529 Login

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Last Updated: May 28, 2022

Log In to your New York's 529 College Savings Program Direct Plan account. Sign in. Username.

nysaves.org
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Nysaves.org

FAQs

1

What is the maximum amount you can contribute to a NY 529 plan?

$520,000
2

What is the max 529 contribution for 2021?

Gift-tax exclusion
In 2021, that means you can contribute up to $15,000 per beneficiary ($30,000 per married couple) to a 529 plan without having to pay gift taxes. If you set up more than one 529 plan this year, you can contribute up to $15,000 to each without having to file a gift-tax return.
3

Can grandparents deduct 529 contributions?

Yes, grandparents can claim the deduction for contributing to a 529 if they live in one of the 34 states that offer a state income tax deduction for 529 college-savings plan contributions. The only question is whether you must own the account or whether you can contribute to one set up by, say, the child's parents.
4

What happens to a 529 plan if your child doesn't go to college?

If assets in a 529 are used for something other than qualified education expenses, you'll have to pay both federal income taxes and a 10% penalty on the earnings. (An interesting side note is that if the beneficiary gets a full scholarship to college, the penalty for taking the cash is waived.)

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Date Published: May 28, 2022

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