Use our sample notification to contact Coverdell ESA designated beneficiaries attaining age 30 in the current year.
IRS regulations require a Coverdell ESA to be distributed within 30 days after a designated beneficiary reaches age 30, unless the individual is a special needs beneficiary.
Superior IRA & HSA recommends using the sample notification linked below to notify these individuals about this requirement to distribute the ESA assets. This notification may be edited as needed to accommodate your organization's needs.
Two versions of this letter are provided below. Version #1 is for Coverdell ESAs where the designated beneficiary is now the Responsible Individual. Version #2 may be used if it's for a Coverdell ESA where the original Responsible Individual retained their status after the designated beneficiary reached the age of majority.
Version #1: Coverdell ESA Letter to Designated Beneficiary at Age 30