WV Prepaid Tuition Plan Account Owner-Frequently Asked Questions

On or about September 30, 2021, a letter was mailed to you, the WV Prepaid Tuition Plan account owner, enclosing a lump sum final payment issued for any units, or fractional units, remaining in your account as of September 27, 2021. Your remaining Plan unit(s) were valued and paid at $4,808 per unit.

When should I expect to receive my lump sum final payment check?  

When will the lump sum final payment check expire?  

Will I be able to obtain another check if I allow my lump sum final payment check to expire?  

Is my final lump sum payment taxable?  

Will I receive a Form 1099-Q? 

Can the final lump sum final payment be made payable to my beneficiary? 

What should I do if I move between September 30, 2021 and January 2022, when the Form 1099-Q will be mailed?  

Can I rollover my Prepaid Tuition Plan final payment check/benefits?  

Can I rollover my final payment check for my child’s Prepaid Tuition Plan benefits into a SMART529 College Savings account for him/her?  

Can I rollover my final payment check for benefits for the beneficiary of my Prepaid Tuition Plan account into a SMART529 account or another 529 plan for another beneficiary?  

Why would I choose to rollover my Prepaid Tuition Plan final payment check into SMART529 or other 529 plan?  

How do I open a SMART529 Savings Account?  

For questions concerning the Prepaid Plan, please contact Customer Service at 1-866-574-3542, prompt 3. For questions concerning SMART529 college savings plans, please contact Customer Service at 1-866-574-3542, prompt 1.

For more information or question contact:
1-866-574-3542, press prompt 3

225883