Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
>If I am the account owner of a 529 for the benefit of my daughter do I disclose this account, even though the funds are not mine, on my personal financial statement?

Here's what the Virginia Prepaid Education Program says:
"It is possible that a VPEP contract may be considered an asset of the contract owner or beneficiary and therefore may affect qualification for need-based federal or state benefit programs."

If you are putting together your personal financial statement for a reason other than to qualify for a need-based benefit program, here's their Q&A:
"Should I report my VPEP contract when applying for credit? No. A VPEP contract is an asset, not a loan or debt. It is therefore unnecessary to disclose your monthly VPEP payments on credit or loan applications, except as an investment that you own. Also, keep in mind that all VPEP account information is confidential and will not be released without the purchaser's written consent."
Print the post  


Paying For School Guide
Trying to Tackle Tuition? The Motley Fool's Guide to Paying for School will help you fight those rising education costs.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.