A Way to Save for Education Expenses*
A Coverdell Education Savings Account (ESA) is an account created as an incentive to help parents and students save for education expenses.
The total contributions for the beneficiary of this account cannot be more than $2,000 in any year, no matter how many accounts have been established. A beneficiary is someone who is under age 18 or is a special needs beneficiary. *Consult your tax advisor for specifics on how this account will affect your individual tax situation.
For more information, visit your local branch or call 1-800-622-5305.
*This information is provided for educational purposes only and does not constitute investment, financial, tax or legal advice. Check with your tax advisor to confirm eligibility and any additional requirements, restrictions, contribution limits, or withdrawal implications.