Warning: Ivy Funds only accepts mailed in paperwork for their 529 withdrawals

[bethwestburg]

I just called to send in paperwork to withdraw funds from a 529 plan. They told me that they only accept mailed in paperwork. Is this industry wide or just Ivy Funds?

[dcandmc]

It's definitely not industry wide for 529 plans. I would find it extremely frustrating to have to fill out and mail in paper forms to request a distribution. What is this, 1950?

[nolefans12]

Our 529 is an Ivy Fund and we just call our Financial Advisor to transfer withdrawals. i’m not really sure what their process is for requesting withdrawal but the money usually hits my personal checking account within 2 days so i find it hard to believe they are mailing paperwork. That just doesn’t sound right