Information on refunds due to COVID-19

  • On April 10, 2020 the IRS issued relief for 529 plan participants who received a refund of a distribution from a 529 plan this spring due to the COVID19 pandemic.
  • You are able to recontribute the refund into the same or another 529 account for the same beneficiary by:
    1. July 15, 2020 or
    2. 60 days from the date you received the refund, whichever date is later.
  • When you submit the refund to the Plan, you must notify us that it is a recontribution by including a letter of instruction
  • If the refund is not recontributed, the original withdrawal may be deemed non-qualified, and therefore subject to taxes or penalties, because the funds are no longer being used for qualified higher education expenses
  • Refunds can be submitted to the addresses on the right.

Need further assistance?Get answers to your questions by contacting one of our customer service representatives, either by phone, or mail.


Call Us

Toll Free: 1-866-574-3542
Monday - Thursday: 8 a.m. - 7 p.m. EST
Friday: 8 a.m. - 6 p.m. EST


Write Us

Standard Mail:
SMART529 Select
P.O. Box 55371
Boston, MA 02205

Overnight Mail:
SMART529 WV Direct
95 Wells Ave., Suite 155
Newton, MA 02459