• Follow the instructions at Open an Account. The beneficiary of the account will be the person to whom you wish to give a gift. You will need to know the Social Security Number (SSN) or federal Taxpayer Identification Number of the beneficiary and his or her birth date and street address (not PO Box) to complete the account enrollment process. You are the owner of the account.
• Once your account has been established, download and print out a Gift of Education Certificate.

Did you know: As the account owner, you are eligible for tax advantages for contributions to a VHEIP account. Find out more.

• An account owner of an already opened VHEIP account can create eGift events and send email invitations at any time, for as many friends and family as they would like. When you receive one of these invitations, you will be able to contribute directly to the account owner’s VHEIP account or accounts via electronic funds transfer (EFT). Find out more.
• All other gift contributions should be accompanied by a completed Gift Contribution Form or should include the VHEIP account number(s) to which the gift should be applied.
• Don’t forget to download the Gift of Education Certificate and give it to your loved one once you have made your gift.

With our eGift option, you can invite family and friends to make a contribution through VHEIP’s secure website. There are no checks to be mailed or deposited. With just a few clicks, the gift goes right into the child’s VHEIP account. It’s safe, secure, and convenient. Log in to your account to get started.

1. Once you have logged in to your account, go to the eGift link on the top of the page.
2. Create an eGift “event.”
3. Tell us which beneficiary(s) you want the eGift invitation for. If you would like to send an invitation for all of your beneficiaries at the same time, you can do it through one eGift invitation.
4. Indicate the email address(es) of the individuals who will receive the invitation.
5. Personalize your eGift email invitation and signature, and confirm the eGift event.
6. If you want to automatically create the same eGift invitation every year, you’ll have an option to set it up as a recurring event.

That’s it! Here’s what happens next:

• When your eGift event is created, an email will go to all the recipients you specified. Once they receive it, they can click a payment link in the email to contribute electronically. If you designated more than one beneficiary, they can contribute to multiple beneficiaries at the same time.
• Once a gift has been made, we’ll process the electronic payment into your VHEIP account(s) from their bank account. You can even send a thank you message right from your VHEIP account.
• Log in to your account at any time to see all of your eGift and gifted contributions.

Federal tax reform info: The federal tax act of 2017 includes provisions related to 529 plan accounts. See the Disclosure Booklet for details.

Questions? Find answers here or give us a call toll-free at 1-800-637-5860, Mon – Fri, 8:00 am – 7:00 pm ET.

What is the minimum gift amount?

There is no minimum amount that friends and family members may contribute (gift) to your existing account(s).

I’m a grandparent, relative, or family friend. Rather than open my own account, can I just make a contribution to VHEIP accounts already established by others for my grandchildren or loved ones?

Yes! You may contribute to a VHEIP account already set up for a beneficiary (or to multiple VHEIP accounts), and not maintain your own accounts for each child or loved one for whom you wish to make a gift. You can contribute online via electronic funds or by mail with a check. Learn how.

Individuals can also purchase a VSAC Gift of College gift card in $50 amounts at the Vermont locations of Cumberland Farms stores. Learn more about purchasing or redeeming a VSAC Gift of College gift card.

It is the responsibility of the account owner and any contributor to VHEIP to maintain records necessary to respond to any questions from the Internal Revenue Service or the Vermont Department of Taxes related to contributions.

If you are a Vermont taxpayer, you may qualify for a 10% Vermont income tax credit on your annual gift contributions into a VHEIP account. Learn more about the Vermont tax credit.

Can a beneficiary have more than one VHEIP account?

Each account can have only one account owner and one beneficiary. However, each beneficiary may have more than one account, and you may open separate accounts for as many different beneficiaries as you wish. Friends and family members may open a separate account for your beneficiary. They will need to know the Social Security Number or federal Taxpayer Identification Number of your beneficiary and his or her birth date and street address (not PO Box) to complete the account enrollment process.

Can friends or family see my VHEIP account if I invite them to make a gift?

No. Only the account owner has access to account details. Gift givers can only contribute to the account. They cannot perform any transactions or see account details.

How are gift contributions invested?

Contributions to a VHEIP account are invested according to the investment portfolios and allocations established by the account owner  for his/her account. Friends and family members can contribute to the account, but only account owners can access the account and make changes to investment allocations.

What impact, if any, do IRS Gift Law Limits have?

Contributions into a VHEIP account may reduce the taxable value of your estate. Your contributions, together with all other gifts from the account owner or third-party contributors to the designated beneficiary, may qualify for an annual federal gift tax exclusion of $15,000 per donor, per designated beneficiary. If your contribution to a VHEIP account for one beneficiary exceeds that $15,000 (or $30,000 for joint filers) exclusion, you may elect to treat up to $75,000 of the contributions (or $150,000 for joint filers) as having been made over a period of up to five years for purposes of determining your annual federal gift tax exclusion. This means that an account owner or a third-party contributor may contribute up to $75,000 in a single year to an account without the contribution being considered a taxable gift, provided that the contributor makes no other gifts to the beneficiary in the same year in which the contribution is made and in any of the succeeding four calendar years. The contributor must make this election on his or her federal gift tax return by filing IRS Form 709. Consult your tax advisor for additional details.