Before you begin completing the application, you should have read through our Enrollment Kit, including the Program Description and Frequently Asked Questions portion. You should also have met (or spoken) with your financial professional to discuss how a 529 plan fits into your overall investment strategy.
Contact your Financial Professional to discuss the Enrollment Kit or call 866-529-8582 for assistance.
Laying the Foundations: Getting Started Is Easy
- Review the Investment Options and construct an allocation that meets your needs and accurately reflects your risk tolerance.
- Fill out the New Account Application (available in the Enrollment Kit or online).
- If your employer offers enrollment in this plan as a benefit, you may be able to contribute via payroll deduction. Also, your employer may have a pre-populated application for you to use.
- If you are rolling over assets from another 529 Plan or would like to regularly invest through Automatic Payroll Deduction, fill out the appropriate forms.
- Mail in your application and initial investment to the address on the application (or through your financial professional).
Completing the New Account Application
Complete each section of the New Account Application, paying special attention to the sections marked as "Required". Incomplete applications may not be processed. See the below list for detailed information as to what needs to be completed within each section. If you need additional information about the suggested forms in the application, click here.
- Section 1
Provide us with information on the Account Owner. All sections must be completed here in order for us to establish the account. If you are funding the Account with a rollover from a UTMA/UGMA account, the custodian of the UTMA/UGMA must be named as the Account Owner. Please see the Program Description for more details.
- Section 2
Provide us with information on the Beneficiary of the Account. All sections must be completed here in order for us to establish the account.
- Section 3
Your Financial Advisor should complete the "Investment Dealer" section with their information. All Accounts must have a Dealer listed on them in order to be established.
- Section 4
Tell us how you wish to contribute to the Account. You not only can direct your initial contribution, but you may also direct us in subsequent contributions to the Account - provide us with bank information and elect an Automatic Investment Plan to make contributions even easier.
- Section 5
There are two options you may use to reduce your sales charges – Rights of Accumulation and a Letter of Intent. Each are described in this section of the application, however, more information is available in the Program Description or through your Financial Advisor.
- Section 6
Tired of all the paper? You can sign up for electronic delivery of your Account documents.
- Section 7
Your signature is required in order to establish the account. Please read this section carefully before signing.
Rolling Over Assets
Now that your application is completed, let’s cover how to move funds from another Qualified Tuition Program, a Coverdell Education Savings Account or qualified U.S. savings bond to your new BlackRock CollegeAdvantage 529 Plan Account.
Requesting a rollover or direct transfer:
- Complete the Incoming Rollover/Direct Transfer Form paying special attention to Section 2, information about the type of rollover or transfer you are selecting. Here you can select a direct transfer from within the CollegeAdvantage Plan or a Rollover from another Qualified Tuition Program, Coverdell Education Savings Account or qualified U.S. savings bond. There are directions right on the form to take you step-by-step.
- Mail the completed New Account Application and Rollover/Direct Transfer Form to BlackRock at the address on the application.
- We will establish your Account and request the assets from your current custodian (unless you indicated a rollover check is included).
If you are already a participant in the CollegeAdvantage Plan and wish to move your assets over to the BlackRock CollegeAdvantage advisor-sold 529 Plan, you would request a "Direct Transfer" (Section 2A of the form). Please be aware: a transfer will be treated as a nontaxable (for federal income tax purposes) investment reallocation of Account assets, which is allowable only twice per calendar year.
You may also roll assets over from another Qualified Tuition Program, UTMA/UGMA, Coverdell Education Savings Account or qualified U.S. savings bond into your BlackRock CollegeAdvantage 529 Plan Account:
You may request a "Direct Rollover" from another Qualified Tuition Program or a Coverdell Education Savings Account (Section 2C of the form). In a Direct Rollover, funds are transferred directly from the other Qualified Tuition Program to BlackRock CollegeAdvantage.
Alternatively, you may use the proceeds from a distribution or redemption from another Qualified Tuition Program, a Coverdell Education Savings Account, qualified U.S. savings bond or a UTMA/UGMA account to fund your Plan Account. This is referred to as an "Indirect Rollover". If you take possession of the distribution proceeds from a Qualified Tuition Program, you must contribute them to the Plan within 60 days in order to avoid federal income taxes and a possible penalty on the distribution.
A rollover between Qualified Tuition Programs (Direct or Indirect) can only be made once in a 12 month period without changing the designated beneficiary (unless the transfer is to a member of the Family of the original Beneficiary).
If you are in receipt of a check from any of the above reference plans, and wish to make Indirect Rollover of these assets to the BlackRock CollegeAdvantage 529 Plan, you would complete Section 2B of the form.
Questions? Call us at 866-529-8582 and we'll help you through the process.
Guide to Our Forms and Applications
Used to establish an Account in the BlackRock CollegeAdvantage 529 Savings Plan, this application will provide us with the name, tax identification/Social Security number of the Account Owner and the Beneficiary of the Account, as well as providing information on your Investment Option elections, how you will fund the account, and more.
If you are planning on funding your Account with an Automatic Investment Plan, you will need to complete that section of the New Account Application.
Are you funding your Account with assets from another qualified 529 Savings Plan, an UTMA/UGMA, or maybe from qualified U.S. savings bonds? You will need to complete this form and submit it along with your New Account Application. You may need this form again in the future if you wish to roll other assets into your existing BlackRock CollegeAdvantage Account.
You may also fund your Account by having your employer deduct directly from your payroll, and send the money to your Account. This will require two forms, initially: The Payroll Deduction Authorization Form provides us with information about the contributor to the Account, the employer handling the payroll deduction, and how to invest the money when it arrives.
But to begin a payroll deduction plan, you (or the contributor) will also need approval from the employer.
This form is provided to your (or the contributor's) employer to request that they begin the payroll deduction plan. You will need to work with your company's payroll department to get started, but this form will provide them with everything they'll need to begin the payroll deduction. If your employer already offers this benefit with us, this form is not needed.
You would use this form to reallocate your Investment Options, or to establish a Systematic Reallocation. Please keep in mind; you may only change your Investment elections once per calendar year, so if you plan on setting up a Systematic Reallocation when you open your Account, you must supply this form along with your New Account Application (otherwise, it will count as your annual change).
Need to add or change the Successor Owner on your account? Or is it time to change the beneficiary (fully or partially) or even the Owner of the account? You can use our Change of Registration Form to make these types of changes.
Things change. We understand that. So we've created this form to allow you to make those changes as they come up. Address changes, updating your Investment Dealer, changing (or adding) an Automatic Investment Plan or your bank instructions, it can all be done with this form.
At some point, you will need to take money out of your BlackRock CollegeAdvantage Account to pay for higher education expenses. To do this, you will need to complete the Withdrawal Request Form. We've also included "FAQs" about 529 withdrawals with this form.