Make a Withdrawal

You are ready to use your savings. You can either request a check or transfer to another bank via Automated Clearing House (ACH). All requests must be made by the account owner. Franklin Templeton Investments does not take distribution instructions from a beneficiary.

Please note that for your initial distribution directly to a school, you must call us or submit your request in writing. After this initial request, you may make future distributions via your online account.

Online

Log in to your account. Once logged in, scroll down to your Education Savings Portfolios, and from the drop down, choose Sell Shares.

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Phone

Call us at 877-4NJ-BEST/465-2378

Mail or Fax

If you prefer to process your withdrawal by mail or fax:

  1. Download and print

    pdf

    529 Withdrawal Form

    Download

  2. Send to:

    Regular Mail
    NJBEST 529 College Savings Plan
    P.O. Box 33090
    St. Petersburg, FL 33733-8090

    Overnight Mail
    NJBEST 529 College Savings Plan
    100 Fountain Parkway
    St. Petersburg, FL 33716-1205

    Fax
    1-727-299-8719

    Please note: The withdrawal form cannot be faxed if a signature guarantee is required. Additionally, checks are distributed from CA, so please allow for adequate delivery time.

    A signature guarantee may be required if the distribution request indicates the following:

    • If proceeds are over $100,000.
    • If proceeds are being sent to a bank account that does not list the 529 Account Owner.
    • If proceeds are being sent via federal wire.
    • If a check is being sent to a third party (not required when the check is being sent to an eligible higher educational institution).

Manage Account

Main Topics

Related Resources

pdf

529 Withdrawal Form

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Investors should carefully consider plan investment goals, risks, charges and expenses before investing. To obtain the Investor Handbook, which contains this and other information, call Franklin Distributors, LLC, the manager and underwriter for the plan, at (877) 4NJ-BEST. You should read the Investor Handbook carefully before investing and consider whether your or the beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in its qualified tuition program.

NJBEST New Jersey's 529 College Savings Plan is offered and administered by the New Jersey Higher Education Student Assistance Authority (HESAA); managed and distributed by Franklin Distributors, LLC, an affiliate of Franklin Resources, Inc., which operates as Franklin Templeton.

Investments in NJBEST are not insured by the FDIC or any other government agency and are not deposits or other obligations of any depository institution. Investments are not guaranteed by the State of New Jersey, Franklin Distributors, LLC, Franklin Templeton, or its affiliates and are subject to risks, including loss of principal amount invested. Investing in the plan does not guarantee admission to any particular primary, secondary school or college, or sufficient funds for primary, secondary school or college.

Franklin Templeton, its affiliates, and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the “promotion or marketing” of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax professional.

© 2021. Franklin Distributors, LLC. Member FINRA/SIPC.