Bright Start Withdrawal Request PDF Details

Making a Bright Start Withdrawal Request is easy! Follow these simple steps to get started. First, log in to your account and click on the "Withdraw" button in the top right corner of your screen. Next, select the amount you would like to withdraw and click "Submit." You will then be asked to confirm your withdrawal request. Once you have confirmed, the funds will be transferred to your bank account within three business days. Make sure to have your bank account information handy when completing the form. That's it! You're ready to go.

This figure features information about bright start withdrawal request. This figure will give you details about the form's length, finalization time, and the fields you'll be needed to fill.

QuestionAnswer
Form NameBright Start Withdrawal Request
Form Length4 pages
Fillable?Yes
Fillable fields44
Avg. time to fill out9 min 52 sec
Other namesmorgan stanley withdrawal form, 2009, morgan stanley ira terms of withdrawal, morgan stanley ira terms and conditions of with drawl

Form Preview Example

Withdrawal Request Form

You can also request a withdrawal online at BrightStart.com

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

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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:

No

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:

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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

1234

list the 529 account owner.

 

 

Account Type:

 

 

Checking

 

 

Savings

 

 

 

 

 

 

 

•  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

 

 

 

 

 

 

Date

 

 

 

 

 

 

 

PREPRINTED$

 

Pay to

 

YOUR

 

 

 

 

 

 

 

 

 

 

TAPE

 

 

OR

SAVINGSDollars

 

 

 

 

CHECK

 

 

 

.

Sample

 

 

 

SLIP

HERE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BankVOIDEDName and Address

DEPOSIT

 

 

 

 

 

 

 

ACCOUNT

 

 

 

 

 

 

 

 

Memo

 

 

 

 

 

 

 

 

 

 

 

 

 

:123456789:

 

34568:

 

 

 

 

 

 

 

 

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.

5.Authorization

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 BrightStartSavings.com. 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.

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6.Authorization (continued from previous page)

Signature and Date Required

X

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

Date

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.

X

Signature of Co-Trustee

Print Name Here

Date

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

MEDALLION SIGNATURE GUARANTEE

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.

 

(A NOTARY PUBLIC CANNOT PROVIDE A

 

SIGNATURE GUARANTEE)

Note to Guarantor:

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

Trustee & Administrator

Program Manager

June 2019

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How to Edit Bright Start Withdrawal Request Online for Free

The entire process of completing the IL0000 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 IL0000 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 Beneficiarys

The program will demand you to fill in the if it is to be used primarily by, Non, Qualified Withdrawal The, Taxable Distribution due to:, and Bright, Start part.

Finishing Beneficiarys step 2

Write down any data you are required within the field Total Account Balance, Total Account Balance and Close, Partial Liquidation: (Check Box A, (This withdrawal amount will be, 529 Portfolio Dollar Amount, Total Withdrawal Amount: $, Account Owner (check sent to the, Proceeds of this withdrawal will, Yes Name of School: No, and City.

stage 3 to entering details in Beneficiarys

You'll have to define the rights and obligations of all parties in section Proceeds of this withdrawal will, Yes Name of School: No, City, Beneficiary – A check payable to, Street Address:, City, Institution of Higher Education, Name of Institution:, Department or Office:, Street Address:, City, and Student ID Number:.

Filling in Beneficiarys stage 4

Finalize by analyzing these fields and filling in the appropriate information: To Account Owner, s Bank Account on, Bank Name:, Bank Account Number:, To Account Owner, s Bank Account, Name, s on Bank Account: If this, Account Type:, Checking, Savings, • This bank account will be linked, your Bright Start College Savings, Your Name, Pay to the order of, Sample, Bank Name and Address, and Memo.

step 5 to filling out Beneficiarys

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.

Watch Bright Start Withdrawal Request Video Instruction

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