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Coverdell Education Savings Accounts
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A Coverdell Education Savings Account (ESA) offers a way to save for a child's education — from elementary/secondary all the way up to post-graduate studies — with tax-free earnings until funds are distributed.
- ANB sets up ESA offerings as a one-year IRA
- $2,000 per year maximum contribution
- After the child is 18 years old, you can no longer make contributions to this account
- The money must be used strictly for qualified educational expenses
- There are limits on the amount that any individual can contribute for any one designated beneficiary for each year
For more information on Coverdell Education Savings Accounts, please click here.
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