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Ndb savings planner7/14/2023 Ascensus Broker Dealer Services, LLC is the distributor. To learn about the College SAVE Plan, its investment objectives, risks and costs, carefully consider the Program Description available at investing. The BND Match, New Baby Match and Kindergarten Kickoff Match are subject to the availability of funds and can be reduced, modified or stopped at the discretion of Bank of North Dakota. *Rollovers from another state’s 529 plan are not considered eligible for the state income tax deduction. A recent development now allows for qualified expenses to include elementary and secondary tuition at public, private and religious schools K-12 as well as up to $10,000 lifetime toward a student loan. Qualified expenses include room and board, books, fees, tuition and computer equipment. Money in your College SAVE account may be used for qualified distributions at any school in state or out of state. Four of five North Dakota residents qualify. To qualify, you must have a College SAVE account and meet the income requirements which are $150,000 federally adjusted gross income or below for married couples and $100,000 for single filers. The BND Match program offers a $300 contribution. To receive the match, $100 must be placed in the account within 12 months of applying for the match and before the child is 7 years old. The Kindergarten Kickoff Match allows a $100 match for children ages 5 and 6 in North Dakota. To receive the match, you must contribute $200 within 12 months from the date you open the account. The New Baby Match program offers $200 to every newborn in North Dakota when an account is started by the child’s first birthday. College SAVE match programs help you to achieve more with your college savings. Anyone can open an account with as little as $25 for a child of any age, and its match programs help people save even more. * You do not need to be the account owner to take advantage of this tax deduction.Īt BND, we believe College SAVE is critical in helping North Dakota residents plan for future higher education expenses. Contributions up to $5,000 (up to $10,000 if married, filing jointly) are also deductible from North Dakota income taxes. The plan, administered by Bank of North Dakota (BND), allows investments to grow state and federal income tax free. In North Dakota, College SAVE is the state’s 529 plan. Instituted by the Internal Revenue Service, 529 accounts help people save for college and offer tax advantages. The $529 contributions can be used to open a new College SAVE 529 account or added to an existing account. Registration ends May 25, 2023, with the five recipients being announced May 26 during a local KX News broadcast. Bank of North Dakota’s College SAVE Plan and KX News Network have partnered and are celebrating 529 plans in May by giving away five $529 contributions. Why? Because like May flowers–with investment and time-they grow. Through this business expansion NDB makes continuous efforts to grow its network sustainably and strategically.May is the perfect month to recognize and celebrate 529 college savings plans. Over the last two years, NDB aggressively increased its footprint by opening branches islandwide. The branch will also offer a host of products and services including retail banking services, such as savings accounts, current accounts, children’s savings accounts, fixed deposits, foreign currency accounts, specialized SME banking services, Western Union money transfer services as well as the Bank’s latest products - NDB Savings Planner and NDB Araliya Women’s Savings Account - coupled with the convenience of Internet banking, mobile banking and a call centre that operates 24 hours. With this opening of the NDB Private Wealth Centre branch, the Bank is now geared to offer these services in and around Bambalapitiya with a comprehensive range of retail and personalized banking services that will meet diverse financial needs with greater convenience and flexibility. The new branch will have the expertise in portfolio management of NDB Group’s services in investment banking through NDB Investment Bank, wealth management through NDB Wealth Management and stock brokering through NDB Securities. With the introduction of the ‘wealth house’ concept in Sri Lanka, all NDB Group’s services are synergized under one roof. NDB has opened its 107th Branch - NDB Private Wealth Centre Branch - in the heart of Bambalapitiya.
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