Account Fees
In addition to the Asset-Based Fees described in the Program Disclosure Statement, the Program currently charges the account fees listed below. Fees are subject to change.
| FEE | DESCRIPTION | AMOUNT |
|---|---|---|
| Monthly charge to each Account (includes up to 2 ACH withdrawals per month). The fee is charged monthly including during periods when the account may be temporarily suspended for ID or ALR verification. The $3.50 fee is charged to all accounts, including those opened during the month that may not have been open for the entire month. | Fee amount $3.50 | |
| Fee for electronic delivery of program documents | Fee amount None | |
| Fee for paper delivery of program documents. There is no fee if you elect e-delivery of program documents. | Fee amount $10 | |
| Charge for processing contributions that are returned unpaid | Fee amount $20 | |
| Fee for enrolling in the Program | Fee amount None | |
| Charge for each check | Fee amount $5 | |
| Charge for each withdrawal by ACH in excess of two (2) per month | Fee amount $1 | |
| Charge to process rollovers to or out of Program | Fee amount None | |
| Fee to process a change of beneficiary to another Eligible Individual who is a Member of the Family of the former Designated Beneficiary | Fee amount None | |
| Fee to process a change of Authorized Legal Representative | Fee amount None | |
| Fee for additional services such as overnight delivery of documents, cost of outgoing wires, or re-issue of disbursement checks | Amounts for additional services will vary depending on services provided |
No fee will be charged for tax documents delivered via U.S. Mail. For Account owners who opt to receive all other Program documents electronically, no Print/Mail Fee will be charged. However, for Account owners requesting to receive all other Program documents by mail, the Program will charge a $10 annual Print/Mail Fee based on the calendar year. If you select this option, the Print/Mail Fee will be withdrawn from your Account immediately upon establishment of the Account. It will be assessed on a pro-rata basis based on the month the Account is established.
The Program Manager may debit your Account for costs incurred in connection with failed contributions (e.g., Returned Items such as returned checks, rejected ACH payments, and rejected electronic funds transfers) or for additional services you request (e.g., overnight delivery of documents, outgoing wires, and re-issue of disbursement checks).