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I realize this is fairly new ground but any guidance would be appreciated. I recently closed a very small Coverdell account for my college frosh son. When I got the check it was pay to the order [how the account was titled] which left me wondering what to do with it. I ended up endorsing it :Pay to son's college and signing it[the way the account was titled] and sent it to the college to apply to his account. (I cleared this with them beforehand.)

The account closing statement came later with this all noted as "premature distribution."

Should I be concerned about the closing statement note ?


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