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SIE practice questionmedium529 Plans - Control

Who maintains control over the assets in a 529 plan?

  1. AThe account owner✓ Correct answer
  2. BThe beneficiary
  3. CThe sponsoring state government
  4. DThe IRS
Explanation

Why A — The account owner

The account owner retains control and can change beneficiaries or withdraw funds (with penalties, if not for education). The beneficiary has no control, and C and D do not manage individual accounts.

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