Questions & Answers

What contributions qualify for the College SAVE account?

If you made a contribution in 2020 to a North Dakota College SAVE account administered by the Bank of North Dakota, you are allowed a deduction for the contribution, up to a maximum deduction of $5,000 ($10,000, if filing as Married Filing Jointly).

You are allowed the deduction regardless of whether you or someone else owns the account.

A rollover of funds from another I.R.C. Section 529 college savings plan into a North Dakota College SAVE account does not qualify.

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