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The NC 529 Plan
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Saving for College in NC 529 Plan

1
Tax benefits
Account earnings are free from federal and NC income taxes when used for qualified higher education expenses.
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2
Low cost
Our fees are very low and allow you to keep your money in North Carolina.
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3
Multiple investments
Select from a variety of investment options that cover a range of strategies, from conservative to aggressive.
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4
Easy set-up
Create an NC 529 Account in minutes. You can set up automatic contributions or contribute when it fits your budget.
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5
Benefit of saving regularly
Putting away whatever amount you can on a regular basis adds up. Use simple calculator for a quick look at how money grows over time and test other scenarios with savings planner.
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See our contact information and frequently asked questions for answers.
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The Consolidated Appropriations Act, 2016, which became law on December 18, 2015, included two enhancements to 529 college savings plans. The following are allowed as of January 1, 2016 forward:
  1. Computer technology and equipment are permanently allowable as a Qualified Higher Education Expense; and

  2. Qualified Higher Education Expenses paid to the Eligible Institution your Beneficiary attends that are later refunded can be recontributed to your Beneficiary's NC 529 Account without tax penalty as long as they are recontributed within 60 days of the refund.

Limited 2015 Retroactive Allowance Period for Enhancements
The Consolidated Appropriations Act, 2016 also specified 2015 retroactive periods related to these enhancements.
  1. You can submit a retroactive Withdrawal request to the NC 529 Plan to cover the purchase of computer and technology equipment made during 2015 for your Beneficiary's use while enrolled in an Eligible Institution.

  2. If your beneficiary received a refund of Qualified Higher Education Expenses in 2015 from his or her Eligible Institution, the amount of that 2015 refund can be recontributed to your NC 529 Account without tax penalty as long as you recontribute it within 60 days of the December 18, 2015 enactment of the Consolidated Appropriations Act, 2016; therefore, no later than February 16, 2016.

Please contact your tax advisor if you have questions concerning the new enhancements or either retroactive period.