Upon withdrawal, grants are paid only to institutions of higher education. Are you required to take withdrawals from an inherited IRA? Many plans allow you to invest in a given asset allocation determined by your child's age. If you trade on margin, you will still accrue margin interest based on your debit balance. Extended-hours trading is not available on days the market is closed, preceding a market holiday or if the market is closed due to an emergency. That site may have a privacy policy and security that is different from NextGenforME.com. Enter your personal information, including your name, date of birth, phone number, and Merrill Lynch bank account number. That site may have a privacy policy and security that is different from NextGenforME.com. NextGen 529 participants assume all investment risk of an investment in NextGen 529, including the potential loss of principal and liability for tax penalties that are assessable in connection with certain types of withdrawals of amounts invested in NextGen 529. Identifying scams can be difficult. To transfer cash or securities from an account held at another financial institution, please complete our. Qualified higher education expenses now include expenses for fees, books, supplies, and equipment required for the participation of a designated beneficiary in an apprenticeship program registered and certified with the Secretary of Labor under the National Apprenticeship Act, and amounts paid as principal or interest on any qualified education loans of the designated beneficiary or sibling of the designated beneficiary, up to a lifetime maximum of $10,000 per individual. Please note: If you liquidate a CD before maturity, you will likely incur a penalty. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or . Whats more, the list of whats considered qualified includes these expenses as well: If theres still something left over, it can stay in the account indefinitely and, decades later, you could change the accounts designated beneficiary and the remaining funds can be used to help pay the cost of a grandchilds education. By proceeding, you will be leaving NextGenforME.com and heading to Vestwell. You are leaving NextGenforME.com and going to myAlfondGrant.org site. By proceeding, you will be leaving NextGenforME.com and heading to brokercheck.finra.org. What you need to consider about required minimum distributions. The performance data contained herein represents past performance which does not guarantee future results. This and other information may be found in each fund's prospectus or summary prospectus, if available. A NextGen 529 Direct Account is for people who want to open an account by themselves and manage their own investments. This form enables you to begin the process of initiating distributions from your Merrill Lynch Individual Retirement Account (IRA), Rollover IRA (IRRA ), Roth IRA, Simplified Employee Pension (SEP) plan, or SIMPLE Retirement Account (SRA). Transfer to your account by mailing a personal, cashier's or bank check or depositing checks via the mobile app. Vestwell is the program manager; The Bank of New York Mellon is the program custodian; BlackRock Advisors, LLC is the program investment manager; and BlackRock Investments, LLC, Member FINRA, is the program distributor and underwriter. use and share is protected. Current performance may be lower or higher than the performance quoted. That site may have a privacy policy and security that is different from NextGenforME.com. That site may have a privacy policy and security that is different from NextGenforME.com. Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. Always read the prospectus or summary prospectus carefully before you invest or send money. What is the cost to use the Merrill Edge mobile app? Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. PDF Merrill Lynch Schedule of Miscellaneous Account and Service Fees 529 ACCOUNTS HAVE LONG BEEN A POPULAR WAY to set aside funds for education. If you would like to transfer margin positions, you must have a valid Merrill margin agreement in place for the account you want to transfer these assets to. 2023 by NextGen 529. Start your search for mutual funds that may be right for you with Merrill Edge Select. Call Merrill at 888.637.3343. Discover your investment choices. GET THE DIRECT Account Program Description, Terms and Conditions of Maine Grant Programs. Designate a trusted contact person (age 18 or older) whom Merrill may contact about your account. Make an investment change to your account. If you want funds to be paid to more than one payee, please complete a separate form for each payee. The Scholars Choice Education Savings Plan is comprised of investment portfolios with underlying funds from Nuveen, TIAA and other leading asset managers. Investment, insurance and annuity products: Then we can provide you with relevant answers. 2023 by NextGen 529. Type a symbol or company name and press Enter. Literature Program Description Future Scholar Portfolio Construction - Direct Program Future Scholar Welcome Guide 12 steps to retirement | Fox Business The Merrill routing number is the first nine digits (084301767), and the account number is the second nine digits. In general, the asset allocation will be more aggressive for younger children and less aggressive for children nearing college age. NextGen 529 is not responsible for the products, services, and content on the App Store. You are leaving NextGenforME.com and going to AdvisorCentral. This and other information may be found in each fund's prospectus or summary prospectus, if available. What should I do with an old 401(k)/retirement account? PDF Important information for clients - Merrill Lynch Vestwell is the program manager; The Bank of New York Mellon is the program custodian; BlackRock Advisors, LLC is the program investment manager; and BlackRock Investments, LLC, Member FINRA, is the program distributor and underwriter. You may obtain the NextGen 529 Program Description by requesting a copy from your financial professional, visiting NextGenforME.com or calling the program manager at 1-833-336-4529. Past performance does not guarantee future results. You are leaving NextGenforME.com and going to Maine.gov. You can add new individual accounts to your online portfolio view using a simple three-step process. Merrill Lynch, Pierce, Fenner & Smith Incorporated (Merrill), a registered broker-dealer, registered investment adviser, Member SIPC . Georgia's 529 College Savings | Office of the State Treasurer Call FAME at 800-228-3734. Returns on investments in NextGen 529 accounts are not guaranteed or insured by the State of Maine, FAME or any NextGen 529 service providers. Tuition and fees are the biggest college bills youll probably face, but there are other eligible expenses, says Richard J. Polimeni, head of Education Savings Programs for Bank of America. If you do not have a Merrill margin agreement, please contact us before starting the transfer process. That site may have a privacy policy and security that is different from NextGenforME.com. Enter the amount you want to withdraw from your account. . If you want to transfer money from a Bank of America account to another person's Bank of America account, you must do so through Online Banking. That site may have a privacy policy and security that is different from NextGenforME.com. Merrill Lynch does not operate as a banking entity in all jurisdictions. Market price returns are based on the prior-day closing market price, which is the average of the midpoint bid-ask prices at 4 p.m. NextGen 529 is not responsible for the products, services, and content on the Vestwell online portal-Active Investor. USRRMH0223U/S-2749455-1/1. Learn more about our firm's background on FINRA's BrokerCheck. Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. MI 529 Advisor: Merrill Lynch - Enrollment Kit For U.S. Mail (Add to cart; cannot be downloaded). To report brokerage checks or CMA Visa Access debit cards lost or stolen, contact 800-CMA-LOST (262-5678) to place a lost or stolen block on checks and/or CMA Visa cards. . . We can also accept transfers of retirement assets; however, restrictions may apply. You can also take a federal income tax-free distribution from a 529 account of up to $10,000 per calendar year per beneficiary from all 529 accounts to help pay for tuition at a qualified elementary or secondary public, private or religious school. NextGen 529 is not responsible for the products, services, and content on Maine.gov. USRRMH0323U/S-2770310-1/1. Customers who have exceeded the full SIPC limits have further protection provided by the Lloyd's policy, subject to an aggregate loss limit of $1 billion for all customer claims, and includes up to $1.9 million cash per customer (excluding any FDIC eligible products within the account). The beneficiary must be attending an eligible educational institution at least half-time for room and board costs to be considered a qualified higher education expense, subject to limitations. Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. Be sure to have your NextGen 529 account number, the withdrawal amount you are requesting, payee information, and know the portfolios you would like to use. How can I determine if my money is available? ET. Prospectuses can be obtained by contacting us. By proceeding, you will be leaving NextGenforME.com and heading to the App Store. Net Asset Value (NAV) returns are based on the prior-day closing NAV value at 4 p.m. The time it takes for mobile check deposits to clear will vary depending on when the deposit is made and other factors. It also offers federal tax advantages, with added state tax benefits for Colorado residents. USRRMH0223U/S-2749410-1/1. Can my Merrill account be linked to my Bank of America account? NAV returns assume the reinvestment of all dividend and capital gain distributions at NAV when paid. Transfer your NextGen 529 account to a new account owner. Merrill Lynch - Login Some foreign institutions are eligible. Additional information is available in ourClient Relationship Summary. What are the tax advantages when you invest with a 529 plan?
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