New York’s 529 College Savings Program Direct Plan
Change of Ownership Form
Use this form to transfer your entire account balance to a new account owner. A transfer of control of an account may result in adverse income or
gift tax consequences. You should consult a qualified tax advisor regarding the application of federal, state, and local tax law to your
circumstances before transferring ownership of an account. Once the transfer is complete, the new account owner will control the account and the
disposition of all assets held in the account. If you’d like to transfer ownership of more than one account, please complete this New York’s 529
College Savings Program Direct Plan Change of Ownership Form for each account.
Important: If the new account owner doesn’t already have an account for the beneficiary, he or she must also submit an Enrollment Application.
You must have the current account owner’s signature notarized. Don’t sign this form until you’re in the presence of a notary public.
Don’t use this form if the current account owner is deceased. Instead, call one of our specialists at the number below for personal assistance.
Note: The current account owner must disclose to the new account owner any previous New York State tax deductions taken for contributions to
the account listed in Section 1. If the new account owner takes a withdrawal, he or she will be liable for any previous New York State tax deductions
taken by the current account owner if those deductions are subject to recapture, including in the case of nonqualified withdrawals and rollovers to a
non-New York 529 Program plan. The new account owner’s liability for such deductions applies even if he or she isn’t a New York State resident;
consult a tax advisor for guidance.
Forms can be downloaded from our Web site at www.nysaves.org. Or you can call us toll-free to order any form—or get assistance in filling out
this one—at 1-877-NYSAVES (1-877-697-2837) on business days from 8 a.m. to 9 p.m., Eastern time. Return this form and any other required
documents in the enclosed postage-paid envelope, or mail to: New York’s 529 College Savings Program Direct Plan, P.O. Box 55440, Boston,
MA 02205-8323. For overnight delivery or registered mail, send to: New York’s 529 College Savings Program Direct Plan, 95 Wells Avenue,
Suite 155, Newton, MA 02459-3204.
1. Current Account Owner Information
Name of Beneficiary
Name of Account Owner (first, middle initial, last), Trust, or Business/Entity
Last Four Digits of Social Security Number or Other Taxpayer ID Number
– – – –
Daytime Telephone Number Evening Telephone Number
REMEMBER TO SIGN IN SECTION 3.