Series 6: 3.6.2. Coverdell Education Savings Accounts

Taken from our Series 6 Online Guide

3.6.2. Coverdell Education Savings Accounts

The Coverdell Education Savings Account (CESA or Coverdell ESA) was previously known as the Education IRA. The Coverdell ESA is similar to a 529 college savings plan in that contributions are made with cash in after-tax dollars and all withdrawals can be made tax-free as long as they are used for qualified educational expenses.

There are also differences between Coverdell and 529 accounts. First, annual contributions are limited to $2,000 in total across all Coverdell accounts for a particular beneficia

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