The NextGen Plan is a Section 529 plan administered by the Finance Authority of Maine. Before you invest in the NextGen plan, request a NextGen College Investing Plan Program Description from a Merrill Edge™ Financial Solutions Advisor and read it carefully. The Program Description contains more complete information, including investment objectives, charges, expenses and risks of investing in the NextGen plan, which you should carefully consider before investing. You also should consider whether your home state or your designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's 529 plan. Section 529 plans are not guaranteed by any state or federal agency. Merrill Lynch, Pierce, Fenner & Smith Incorporated is the program manager, underwriter and distributor.
1 To qualify for this offer, you much open a NextGen College Investing Plan Account and fund the account with at least $5,000 in cash within 45 calendar days of account opening. The balance must be held in the account for a minimum of 90 consecutive days following the funding date.
How to Enroll: Customers must enroll by clicking ENROLL AND OPEN button above, or ask to be enrolled when speaking with a Merrill Edge Financial Solutions Advisor™ at 1.888.637.3343 or at select Bank of America Banking centers.
Cash Reward: The $50 bonus is a one-time credit that will be applied to the newly opened NextGen College Investing Plan Account after the relevant qualifications criteria are met. The $50 bonus will be paid during the calendar month after which the 90-day funding criteria are met; only one bonus per account. The $50 bonus will be applied to your account and invested in the various securities offered by the Plan based on your new-investment allocation in effect on the date that the bonus is provided. Merrill Edge reserves the right to change or cancel this offer at any time. Merrill Edge does not provide legal or tax advice. Please consult a legal or tax advisor regarding your individual circumstances.
Tax Disclaimer: The value of this reward you receive may constitute taxable income, and Merrill Lynch may issue an Internal Revenue Service Form 1099 (or other appropriate form) to you that reflects the value of such reward. In addition, the amount of the reward may be treated for tax purposes as a contribution by you to your NextGen College Investing Plan account, which may have tax consequences to you. Please consult your tax advisor, as neither Bank of America, Merrill Lynch, nor its associates provide tax advice.
Limitations: Offer is limited to one $50 bonus per beneficiary. The offering of cash rewards, free trades, waiver of fees (including account fees), and/or any other thing of value may not be used as an inducement to sell any kind of insurance, including life insurance or annuities.
2 To be eligible for favorable tax treatment afforded to any earnings portion of withdrawals from Section 529 accounts, such withdrawals must be used for "qualified higher education expenses," as defined in the Internal Revenue Code. Any earnings withdrawn that are not used for such expenses are subject to federal income tax and may be subject to a 10% additional federal tax, as well as applicable state and local income taxes.
3 Section 529 plans are established by various states and are offered to residents of all states. Depending on the laws of the customer's home state, favorable tax treatment for investing in a Section 529 plan may be limited to investments made in a Section 529 plan offered by the customer's home state. Neither Merrill Lynch, Pierce, Fenner & Smith Incorporated nor any of its subsidiaries are tax or legal advisors. We suggest you consult your personal tax or legal advisor before making tax or legal-related investment decisions.