Coverdell Education Savings Account

• Formerly known as an Education IRA
• $2,000 annual limit per child
• Contributions are non-deductible
• Qualified distributions are tax-free and include:
• Expenses incurred in connection with the enrollment or attendance of the beneficiary at a public, private or religious school providing elementary or secondary education.
• Post-secondary tuition, fees, textbooks, supplies and equipment.
• Post-secondary room and board expenses
• Virtually anyone can contribute, including corporations and other entities
• Contributions must stop at beneficiary's 18th birthday, unless the beneficiary qualifies as special needs.
• Funds must be distributed or rolled over by the beneficiary's 30th birthday, except for special needs beneficiaries.