IRS Notice 2009-01
modifies Notice 2001-55, 2001-2 CB 299, and provides that a section 529 program (qualified tuition program) does not violate the investment restriction under IRC Sec. 529(b)(4) if it permits a participant to change investment strategy selected for an IRC Sec. 529 account twice during calendar year 2009. A change in investment strategy upon a change in the designated beneficiary of the account continues to be permitted as under Notice 2001-55.
Notice 2009-01 will appear in IRB 2009-2, dated Jan. 12, 2009.
Posted by Lewis J. Saret
, General Editor, Wealth Strategies Journal.