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.
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.
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:
You may request a "Direct Rollover" from another Qualified Tuition Program or a Coverdell Education Savings Account (Section 2A of the form). In a Direct Rollover, funds are transferred directly from the other Qualified Tuition Program to BlackRock CollegeAdvantage.
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:
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 2C 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.
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.
View additional 529 forms and applications.
Your investment strategy should match your college savings goals. BlackRock CollegeAdvantage offers three distinct investment approaches, allowing you to choose the option(s) that best fits your needs.
Strategy | How it works | May be a good option if… |
---|---|---|
Age-Based | Choose a portfolio based on your student’s age and your risk preference. The portfolio automatically shifts to be more conservatives as the student nears college age. | You want a ‘set-it-and-forget-it’ approach. |
Target Risk | Based on your preferred risk exposure, select a portfolio that aims to deliver this consistent risk level over time. | You want a certain level of risk and the flexibility to adjust in the future. |
Single Strategy | Pick from our menu of 17 investments to build a customized portfolio. | You want complete control over your investment selections. |