SIE practice questionmedium529 Plans - Control
Who maintains control over the assets in a 529 plan?
- AThe account owner✓ Correct answer
- BThe beneficiary
- CThe sponsoring state government
- 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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