Enrollment Materials

It's easy to open an account with the Minnesota College Savings Plan. The minimum contribution is $25 through check, electronic funds transfer, automatic contribution plan from your bank account, or through a transfer of funds from another state's qualified tuition program. The minimum contribution is $15 (per Investment Option, per Beneficiary) if ongoing contributions will be made by payroll deduction.

You are permitted to transfer funds from another 529 college savings plan to an account in the Minnesota College Savings Plan for the same beneficiary once within a 12-month period without incurring federal income tax. The 529 college savings plan from which you are transferring funds may be subject to differences in features, costs and surrender charges. You should consult with your tax advisor or the other 529 college savings plan. State and local taxes may apply.

To open an Account and begin making contributions:

1. Carefully read the Minnesota College Savings Plan Disclosure Booklet and Participation Agreements (PDF, 773KB).
2. Select the investment option or mix of options that is right for you. You can invest by check, electronic funds transfer, automatic contribution plan, payroll deduction, or a transfer of funds from another state's qualified tuition program.
3. Complete and sign the Application. Select from the list below:
   
   Individual Account (PDF, 222KB) - Use this form to open a Minnesota College Savings Plan account by an individual (typically a parent, grandparent, family member or friend).
   
   Minor Trust (Custodial) Account (PDF, 213KB) - Use this form to open an Account under the Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA), or trustee for a minor under age 18. Unlike other types of accounts, a custodial account owner is acting purely in a representative capacity for the minor beneficiary, who is the legal owner of the account. Please read the Important Information about Minor Trust Accounts, contained in the Account Application for a Minor Trust, before opening this type of account. You should also be aware that funds deposited into this type of account cannot be transferred or rolled over to another account owner or beneficiary. 
   
   Entity Account (PDF, 256KB) - Use this form to open an account for a trust, estate, business entity, IRC 501(c)(3) organization or a state/local government. 
4. Enclose a check, made payable to the Minnesota College Savings Plan if you are making your contribution by check. Contributions are only permitted by personal checks, bank drafts, teller's checks and checks issued by a financial institution or brokerage account, payable to the Account Owner and endorsed over to the Plan by the Account Owner, and third-party personal checks up to $10,000 endorsed over to the Plan by the Account Owner.
5. Return your completed and signed Application, and your initial contribution (if you are making it by check) or your completed Authorization for Automatic Payroll Deduction (PDF, 46KB) form to:
   
   Minnesota College Savings Plan
   PO Box 64028
   St. Paul, MN 55164-0028 
   
   Account owners who opened an Account or made a contribution during 2006 will automatically be sent the 2006 Matching Grant Form early in December.

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