FAQ Edvest: Can I Make a Withdrawl from my 529 College Savings Plan?
You can make a withdrawal from your account two ways:
- Make an online withdrawal. Start by logging in to your account. Once successfully logged in, you will see the Account Information Page. On the right column, choose if you would like to:Make a Withdrawal (to your bank of record)
Make a Withdrawal to College/University
- Use the Withdrawal Request Form (PDF). Allow 7-10 days for processing and mailing.
You may request a withdrawal from your account online that will be sent directly to your bank account via Automated Clearing House,* as long as your banking information has been on file with your account for at least 30 days and your address has not changed within the last 30 days. The Disclosure Booklet also contains a discussion of the tax implications, if any, of taking various types of withdrawals from the Plan.
Non-qualified withdrawals are subject to income taxes and the federal additional 10% tax.
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