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College Savings and ABLE Plans

Kutak Rock represents various state governments and state agencies in implementing and maintaining qualified tuition programs under Section 529 of the Internal Revenue Code. We provide tax and securities counsel to prepaid tuition programs and qualified savings programs (both direct-sold and advisor-sold). We also assist governments with key program design decisions, program management and distribution agreements, investment oversight, compliance with MSRB rules, reviewing promotional materials, and ensuring program materials conform to applicable law and the College Savings Plan Network Disclosure Principles.

Our attorneys also have extensive experience with ABLE programs under Section 529A of the Internal Revenue Code. We helped launch one of the first ABLE programs in the country, and regularly negotiate with service providers and draft agreements governing these essential relationships. We prepare and review program policies, procedures and administrative forms to reflect current legal requirements and best practices. We aid states and state agencies in reviewing the regulatory and statutory structures governing their programs and have experience drafting state legislation and garnering support for legislative changes in light of nationwide trends.