Information & Resources: 529 Savings Accounts for K-12 Tuition Expenses

The newly enacted federal tax law contains a provision that the Orthodox Union Advocacy Center promoted – the expansion of 529 Savings Accounts to be utilized for K-12 education expenses, including those of non-public parochial schools. As of the start of 2018, this law is in effect at the federal level.  This information below seeks to answer commonly asked questions about this change.

Please note: This information should not be taken as a substitute for individualized tax guidance. You should consult with your personal accountant or financial adviser who can better address your specific situation.

Important Update for New York State (Jan. 18, 2018)
New information for families in New York State.

Frequently Asked Questions

These FAQs provide general answers to commonly asked questions about the expansion of 529 Savings Accounts.

OU Advocacy Center 
Conference Call
Learn more about the expansion of 529 Savings Accounts with Amanda Nussbaum, Partner, Tax Department at Proskauer Rose LLP and Nathan Diament, Executive Director, Orthodox Union Advocacy Center.

OU Statement on New Tax Cut Legislation 
The Union of Orthodox Jewish Congregations of America issued the following statement upon the passage of the “Tax Cuts and Jobs Act” by the U.S. House of Representatives and Senate.

News Coverage of the Expansion of 529 Savings Accounts
JTA: “The new tax law lets you use college savings for Jewish day school. Here’s how it works.
JM in the AM: Nathan Diament on “Can the new tax laws ease your tuition crunch?”

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