>>Federal Tax Reform UPDATE<<
The AZ529 Bank Plan no longer solicits or accepts new investors (as of 11/1/ 2021) nor allows contributions from current account owners to their existing accounts (as of 2/1/2022).
Beginning 11/30/2022, CSB will begin a Program Transition. The below links contain important information about the transition and the impact to AZ529 Bank Plan accounts.
The Bank Plan is sponsored by the State of Arizona and administered by the Arizona State Treasurer’s Office (ASTO). The Arizona State Board of Investment (BOI) is Trustee of the Trust. College Savings Bank, a Division of NexBank (CSB) serves as Service Manager for the Bank Plan. CSB provides recordkeeping and administrative services with overall responsibility for the day-today operations. CSB offers FDIC-insured certificates of deposit (CDs) and a high-yield savings account. CDs may be subject to early withdrawal penalties. For additional information, please refer to the Bank Plan Disclosure Statement.
Tax and other penalties may apply to non-qualified withdrawals from the Bank Plan account. You should consult your financial, tax, or other adviser to learn how state-based benefits (or limitations) will apply to your specific circumstances. The Bank Plan is not insured by the State of Arizona, nor is the principal and interest invested in the plans thereon guaranteed by the State of Arizona.