Bright Start Withdrawal Request PDF Details

In navigating the financial pathways to support educational ambitions, individuals may encounter the Bright Start Withdrawal Request Form, a critical document designed for the Bright Start College Savings Program. This form serves as a conduit for account holders to request withdrawals, catering to a spectrum of needs from paying for tuition and required educational materials to covering room and board for those enrolled at least half-time in eligible institutions. Moreover, the form distinguishes between qualified withdrawals, those aligned with IRS Publication 970 for educational expenses, and non-qualified withdrawals, each affecting the account owner's financial obligations differently in terms of taxes and penalties. The specifics of the form encompass sections detailing current account information, the type of withdrawal, and the precise amount, alongside options for directing the payment. Additionally, it introduces a vital feature allowing for electronic funds transfer to an account owner's bank account, enhancing the ease with which funds can be accessed. It underscores the necessity of a Medallion Signature Guarantee under certain conditions to safeguard transactions, aiming to streamline the process while ensuring adherence to legal and procedural standards. Through this form, the Bright Start College Savings Program enables account holders to strategically manage their savings to fulfill their educational or that of their beneficiaries' goals, acknowledging the importance of informed and efficient financial decisions in the pursuit of academic achievements.

Form NameBright Start Withdrawal Request
Form Length4 pages
Fillable fields0
Avg. time to fill out1 min
Other namesmorgan stanley terms and conditions of withdrawal, 1997, NQR, morgan stanley withdrawal form

Form Preview Example

Withdrawal Request Form

You can also request a withdrawal online at

Return this Form to:

Overnight Mail:

Bright Start College

Bright Start College

Savings Program

Savings Program

P.O. Box 85298

3606 South 48th Street

Lincoln, NE 68501

Lincoln, NE 68506

If you have questions, please call us at 877.432.7444, Monday–Friday, 7 a.m. to 7 p.m. (Central).

1.Current Account Information

Account Number:

Account Owner Legal Name (First, M.I., Last):

Account Owner Social Security Number or Taxpayer Identification Number:

Daytime Phone Number:

Beneficiary Legal Name (First, M.I., Last):

Beneficiary Social Security Number or Taxpayer Identification Number:

2.Type of Withdrawal (Please check only one box)

See the Program Disclosure Statement for a general explanation of Qualified and Non-Qualified Withdrawals and possible tax and penalty considerations. Consult your tax advisor, the IRS, or Illinois Department of Revenue.

Qualified Withdrawal

IRS Publication 970 defines qualified education expenses as follows: These are expenses related to enrollment or attendance at an eligible educational institution. As shown in the following list, to be qualified, some of the expenses must be required by the institution and some must be incurred by students who are enrolled at least half-time.

1.The following expenses must be required for enrollment or attendance of a Designated Beneficiary at an eligible educational institution.

a.Tuition and fees.

b.Books, supplies, and equipment.

2. Expenses for special needs services needed by a special needs beneficiary must be incurred in connection with

enrollment or attendance at an eligible educational institution.

3. Expenses for room and board must be incurred by students who are enrolled at least half-time. The expense

for room and board qualifies only to the extent that it is not

more than the greater of the following two amounts.

a. The allowance for room and board, as determined by the eligible educational institution, that was included in

the cost of attendance (for federal financial aid purposes) for

a particular academic period and living arrangement

of the student.


b. The actual amount charged if the student is residing in housing owned or operated by the eligible

educational institution.


You will need to contact the eligible educational institution for qualified room and board costs.

4.The purchase of computer or peripheral equipment, computer software, or Internet access and related services if it is to be used primarily by the beneficiary during any of the years the beneficiary is enrolled at an eligible educational institution. (This does not include expenses for computer software for sports, games, or hobbies unless the software is predominately educational in nature.)

Non-Qualified Withdrawal


The withdrawal will not be used for the qualified

higher education expenses of the designated Beneficiary.

NOTE: The earnings portion of a Non-Qualified

Withdrawal is subject to federal and state income tax, as well as an

additional 10% federal penalty tax, and the recapture of any previous Illinois tax deductions taken for the contribution

portion of the withdrawal.


Taxable Distribution due to: (Check Box A, B, C, or D)

A. Death of the Beneficiary

C. Beneficiary’s Attendance at a United States Military Academy

B. Disability of the Beneficiary

D. Scholarship Awarded to the Beneficiary


Dollar Amount
$ 0.00

3.Amount of Withdrawal

Total Account Balance


Total Account Balance and Close Account

Partial Liquidation: (Check Box A or B)

A. Partial Liquidation in the Amount of $

(This withdrawal amount will be liquidated pro-rata based on the current balances in my Account) B. Partial Liquidation from Specific Portfolios

529 Portfolio

Total Withdrawal Amount:

4.Payment Instructions (Check Box A or B)

A. Check Payable to: (Check one)

Account Owner (check sent to the address on record)

Proceeds of this withdrawal will be used at an institution of higher education: (Check one)

Yes Name of School:City, State:


Beneficiary – A check payable to the Designated Beneficiary listed in Section 1 will be mailed to the following address: Street Address:

City, State, ZIP:

Institution of Higher Education (please attach copy of invoice or billing statement from institution) Name of Institution:

Department or Office:

Street Address:

City, State, ZIP:

Student ID Number:


4.Payment Instructions (continued from previous page)

B. Electronic Funds Transfer: (Check one)

To Account Owner’s Bank Account on File

Bank Name:

Bank Account Number:

To Account Owner’s Bank Account Not on File with Bright Start (complete below bank information)

•  Please have your signature Medallion-guaranteed in Section 6.

Name(s) on Bank Account:



If this bank account is a joint account, please



Your Name


list the 529 account owner.



Account Type:














•  This bank account will be linked to your Bright Start College Savings Program Account for telephone and website purchase and redemption/ withdrawal transactions.

the order of

















Pay to





















































BankVOIDEDName and Address











































NOTE: Distributions to a Beneficiary or Institution of Higher Education for the benefit of on IRS Form 1099-Q under the Social Security Number or Taxpayer Identification Number distributions will be reported under the Social Security Number or Taxpayer Identification

the Beneficiary will be reported of the Beneficiary. All other Number of the Account Owner.


I understand that the tax treatment of a withdrawal needs to be coordinated with the American Opportunity and Lifetime Learning Credits, the Tuition and Fees Deduction, Coverdell Education Savings Account distributions, and all other education related benefits. For specific tax guidance, I will consult with my tax professional.

By signing this form, I certify that I am the Account Owner of the Account indicated in Section I and that the information contained on this withdrawal form is true, complete, and correct. I authorize the Program Manager to make this distribution from my Account as indicated. I assume sole responsibility for the tax consequences of the above election and understand that the earnings portion of a Non-Qualified Withdrawal is subject to federal and state income tax, as well as an additional 10% federal penalty tax, and the recapture of any previous Illinois tax deductions taken for the contribution portion of the withdrawal.

By selecting the electronic transfer service in Section 4, I acknowledge that the bank account in Section 4 will be linked to my Bright Start Account, and I hereby authorize Union Bank & Trust Company to initiate debit and/or credit entries to the bank account indicated above, and the bank indicated above to debit the same amount. I acknowledge that the referenced bank account will be linked to my Bright Start College Savings Program Account so that I may purchase or sell shares by telephone or online at This authority is to remain in full force and effect until Union Bank & Trust Company has received notification from me of its modification or termination in such time as to afford Union Bank & Trust Company reasonable time to act on it. I understand that if a transaction cannot be made because of insufficient funds or because either account has been closed, this service will be cancelled by Union Bank & Trust Company. I acknowledge that the origination of Automated Clearing House (“ACH”) transactions to my account must comply with the provisions of applicable law. I further agree that if my draft is dishonored for any reason, with or without cause, Union Bank & Trust Company will not bear any liability. Union Bank & Trust Company may correct any transaction errors with a debit or credit to my financial institution account and/or my Bright Start College Savings Program Account. (Please retain a copy of this authorization for your records.)

I understand that it is my responsibility to maintain accurate records as may be required by the IRS to substantiate this distribution for tax purposes.


6.Authorization (continued from previous page)

Signature and Date Required


Signature of Account Owner, Custodian (UGMA/UTMA Accounts), or Trustee


Print Name Here

Title (if other than an individual is establishing the Account)

If the Account Owner is a trust and there is more than one trustee, the additional trustee must sign here.


Signature of Co-Trustee

Print Name Here


7.Medallion Signature Guarantee

Medallion Signature Guarantee is Required if:

•  The address of record has changed within 15 days of the withdrawal request.

•  The bank account information in Section 5 is not already on file with the Bright Start College Savings Program. •  The withdrawal request is greater than $50,000


Signature must be stamped with a Medallion

Signature Guarantee by a qualified financial



institution, such as a commercial bank,


savings and loan, U.S. stock broker and


security dealer, or credit union, that is


participating in an approved Medallion


Signature Guarantee program.





Note to Guarantor:

Medallion imprints must be fully legible and must not be dated or annotated.

Trustee & Administrator

Program Manager

June 2019


How to Edit Bright Start Withdrawal Request Online for Free

The entire process of completing the morgan stanley terms of withdrawal ira is pretty easy. Our team ensured our software is easy to navigate and can help fill in any sort of form very quickly. Learn about a couple of simple steps you will have to follow:

Step 1: Step one is to click the orange "Get Form Now" button.

Step 2: Once you've accessed the morgan stanley terms of withdrawal ira editing page you'll be able to find the different actions you'll be able to perform relating to your file in the top menu.

You will have to enter the following details if you want to fill out the file:

stage 1 to filling in 2009

The program will demand you to fill in the The purchase of computer or, NonQualified Withdrawal The, Taxable Distribution due to Check, A Death of the Beneficiary, C Beneficiarys Attendance at a, B Disability of the Beneficiary, D Scholarship Awarded to the, and BrightStartcom part.

Finishing 2009 step 2

Write down any data you are required within the field Amount of Withdrawal, Total Account Balance, Total Account Balance and Close, Partial Liquidation Check Box A or, A Partial Liquidation in the, This withdrawal amount will be, B Partial Liquidation from, Portfolio Dollar Amount, Total Withdrawal Amount, Payment Instructions Check Box A, A Check Payable to Check one, Account Owner check sent to the, Proceeds of this withdrawal will, Yes Name of School, and City State.

stage 3 to entering details in 2009

You'll have to define the rights and obligations of all parties in section Yes Name of School, City State, Beneficiary A check payable to, Street Address, City State ZIP, Institution of Higher Education, Name of Institution, Department or Office, Street Address, City State ZIP, and Student ID Number.

Filling in 2009 stage 4

Finalize by analyzing these fields and filling in the appropriate information: B Electronic Funds Transfer Check, To Account Owners Bank Account on, Bank Name, Bank Account Number, To Account Owners Bank Account Not, Please have your signature, Names on Bank Account If this bank, Account Type, Checking, Savings, This bank account will be linked, Your Name, Pay to the order of, Sample, and Bank Name and Address.

step 5 to filling out 2009

Step 3: Once you've clicked the Done button, your document is going to be obtainable for transfer to each device or email address you specify.

Step 4: To protect yourself from possible future complications, you should definitely get up to a pair of copies of every single form.

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