What documents will be sent on an annual basis for beneficiaries currently using their prepaid benefits?

0
Posted

What documents will be sent on an annual basis for beneficiaries currently using their prepaid benefits?

0

1099 Tax Form: In preparation for the tax season, a 1099 tax form will be mailed in late January to beneficiaries who have used their plan benefits during the calendar year. The form will also be mailed to account owners who have received a scholarship refund or reimbursement during the calendar year. Please contact your tax advisor for assistance in completing this form. Usage Statement: In mid February, Prepaid College Plan account owners will receive a Usage Statement reflecting an updated status of all benefits paid out, as well as the remaining balances of each account, effective December 31 of the previous calendar year. ID Card: In early February, Prepaid College Plan beneficiaries who are scheduled to start college in the Fall or have matriculated will receive a Prepaid College Plan identification card.

Related Questions