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Deposit Insurance Coverage; Accounts of Qualified Tuition Savings Programs Under Section 529 of the Internal Revenue Code

FDIC · final-rule · Published 2005-10-28 · Effective 2005-12-27 · 70 FR 62057

Document

Document number
05-20766
Federal Register citation
70 FR 62057
CFR reference
12 CFR 330
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Federal Deposit Insurance Corporation
Publication date
2005-10-28
Effective date
2005-12-27

Abstract

The FDIC is adopting a final rule governing the insurance coverage of deposits of qualified tuition savings programs under section 529 of the Internal Revenue Code. The final rule makes no substantive changes to a previous interim final rule. Under the rule, the deposits of a qualified tuition savings program will be insured on a "pass-through" basis to the program participants. In other words, the deposits will be insured up to $100,000 for the interest of each participant in aggregation with the participant's other deposits (if any) at the same insured depository institution.

Source

Authoritative
Federal Register document
Machine
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