2024-2025 Form

What is the Fidelity Advisor 529 Plan Account Application

The Fidelity Advisor 529 Plan Account Application is a formal document used to establish a 529 college savings plan account. This application allows individuals to invest in a tax-advantaged savings plan designed to help families save for future education expenses. The Fidelity Advisor 529 Plan is managed by Fidelity Investments and offers various investment options, enabling account holders to choose a strategy that aligns with their financial goals and risk tolerance.

Steps to complete the Fidelity Advisor 529 Plan Account Application

Completing the Fidelity Advisor 529 Plan Account Application involves several key steps:

1. Gather necessary information: Collect personal details, including Social Security numbers, addresses, and financial information for both the account owner and the beneficiary.
2. Choose investment options: Review the available investment portfolios and select the options that best suit your savings objectives.
3. Fill out the application: Accurately complete all required fields in the application form, ensuring that all information is current and correct.
4. Review and sign: Carefully review the application for accuracy before signing and dating the document.
5. Submit the application: Send the completed application to Fidelity via the preferred submission method, which can include online submission, mail, or in-person delivery.

Required Documents

When applying for the Fidelity Advisor 529 Plan, certain documents are typically required to ensure compliance and facilitate the application process. These may include:

• Proof of identity for the account owner and beneficiary, such as a driver's license or passport.
• Social Security numbers for both the account owner and the beneficiary.
• Financial information, including bank account details for funding the account.

Eligibility Criteria

To qualify for the Fidelity Advisor 529 Plan, applicants must meet specific eligibility criteria. Generally, the following conditions apply:

• The account owner must be a U.S. citizen or resident alien.
• The beneficiary must be a designated individual, typically a child or grandchild, who will use the funds for qualified educational expenses.
• There are no income restrictions for account owners, making the plan accessible to a wide range of families.

Form Submission Methods

The Fidelity Advisor 529 Plan Account Application can be submitted through various methods to accommodate different preferences:

• Online: Complete and submit the application directly through the Fidelity website.
• Mail: Print the completed application and send it to the designated Fidelity address.
• In-Person: Visit a Fidelity branch to submit the application and receive assistance from a representative.

Application Process & Approval Time

Once the Fidelity Advisor 529 Plan Account Application is submitted, the processing time may vary. Generally, the application process includes:

• Review of submitted documents for completeness and accuracy.
• Verification of identity and eligibility criteria.
• Approval notifications typically occur within a few business days, though it may take longer during peak application periods.