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Click ‘Get Form’ to open it in the editor.
Begin by filling out the 'Account Information' section. Enter your TNStars Account Number, your first and last name, and your daytime telephone number clearly in capital letters.
Next, provide details for the 'Designated Beneficiary.' Fill in their first name and last name as required.
In the 'Withdrawal Information' section, specify the amount you wish to withdraw. Ensure this amount does not exceed the total of your attached receipts or bills.
Indicate who the withdrawal should be payable to: yourself, the designated beneficiary, or directly to the educational institution. If applicable, include the student ID number and due date.
Finally, sign and date the form in the 'Signature' section, certifying that all expenses are for qualified education costs. Review all entries for accuracy before submission.
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529 cons. If not used for college expenses, there is a 10% additional tax on earnings. If not used for qualified expenses, all earnings are taxed as ordinary income (even if the actual earnings were capital gains). The management fees for a 529 account are typically higher than the fees for comparable mutual funds.
What is the best savings account for childs education?
But 529s and ESAs are generally considered better choices for college savings because of their tax advantages. There are two types of tax-advantaged college savings plans designed to help parents finance education: 529 Plans and Education Savings Accounts (also known as ESAs or Coverdell accounts).
Which state has the best 529 plan?
Top-rated 529 plans in 2025 Oregon College Savings Plan. Ohios 529 Plan CollegeAdvantage. UNIQUE College Investing Plan (New Hampshire) ScholarShare 529 (California) Pennsylvania 529 Investment Plan. my529 (Utah) New Yorks 529 College Savings Program. Alaska 529.
Can you withdraw funds from a 529 plan?
Now, you can also use 529 funds to cover expenses for private elementary, middle, and high school tuition. All withdrawals for education-related expenses are tax free, as long as they are qualified expenses. Some examples of qualified expenses include: Tuition and fees.
What is the maximum amount you can put in a 529 plan per year?
Contributions to a 529 plan are considered gifts by the IRS. If you make a contribution that exceeds the annual gift tax exclusion $19,000 for single filers, $38,000 for married couples filing jointly in 2025 you will need to file a gift tax return.
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529 plan contributions grow tax-free. Withdrawals are tax-free when used to pay for qualified higher education expenses. You can contribute as much as you want, as often as you want.
Related links
TNStars FAQs
You are free to simply withdraw the money you have saved from your TNStars account at any point. However, if funds are withdrawn from a 529 program to be
Direct Deposit Authorization for TN Stars 529 Program Employee Award Payment Request Form [Excel] Faculty/Staff Payroll Deduction Authorization; Monthly
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