Coverdell Education Savings Account - Allegent Community Federal Credit Union

Coverdell Education Savings Account

Qualifying members may elect to invest up to $2,000 per child (does not need to be a relative), per year.

  • Contributions are not tax deductible.
  • Withdraw funds tax free and IRS penalty free for qualifying educational expenses up to age 30.
  • Earnings not used by age 30 will become taxable and subject to the 10% IRS penalty tax.