Independent form guide. BrieflyGo is not affiliated with or endorsed by IRS, USCIS, SSA, DOL, or any U.S. government agency. Official forms are sourced from public government websites.
Official form guide
Form 5305E: Coverdell Education Savings Trust Account
The IRS Form 5305-E is a model trust account agreement that establishes a Coverdell Education Savings Trust Account under section 530 of the Internal Revenue Code. It is used by the grantor to fund qualified educational expenses for the designated beneficiary. Total contributions are limited to $2,000 per tax year.
Need help with Form 5305E?
Open it in the AI Editor for field guidance, checks, and PDF export.
Need help? AI Editor guides you through every field of Form 5305E.
Start filling →Form Overview
IRS Form 5305E - Coverdell Education Savings Trust Account
The IRS Form 5305-E is a model trust account agreement that establishes a Coverdell Education Savings Trust Account under section 530 of the Internal Revenue Code. It is used by the grantor to fund qualified educational expenses for the designated beneficiary. Total contributions are limited to $2,000 per tax year.
Risk Radar
Scan points- 1Do not submit Form 5305-E to the IRS; the grantor must keep it in their records.
- 2Submitting Form 5305-E to the Internal Revenue Service instead of keeping it in records.
- 3Exceeding the $2,000 total annual contribution limit for non-rollover contributions.
- 4Failing to include signatures from both the grantor and the trustee.
- 5Not verifying if a witness signature is required for signing parties.
Plain English
This form creates a specialized trust account designed to pay for college and other qualified educational expenses. The grantor establishes the account for a specific person (the designated beneficiary). It ensures that funds are used only for approved school costs in the United States.
Submission Date
- Filing date: 2017-02-08 00:00:00
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
AI co-pilot
Fill it faster. Catch mistakes before you file.
Glossary Terms
Hover a term to preview the meaning.
What this form is for
- Use this form when establishing a Coverdell education savings trust account under section 530(b)(1) and paying qualified elementary, secondary, and higher education expenses for the designated beneficiary.
- Do not use it when filing with the Internal Revenue Service (IRS); the grantor must keep the completed form in their records.
- Check Form 5305-EA instead when establishing a Coverdell Education Savings Custodial Account.
Form selector
Use this form or another form?
Form 5305-EA
The source references this form if the model account is a custodial account
✓ Check before you continue
Publication 970
This publication details how to manage contributions from military benefits
✓ Check before you continue
Explains rules for rolling over military death gratuity
Internal Revenue Code (IRC)
The source references sections like 530(b)(1), 530(h), and 408(n) for governing rules
✓ Check before you continue
Provides section numbers and regulations
Deadline or filing window
Individual contributions must be made by the due date of the designated beneficiary’s tax return for that year, excluding extensions. The form does not state a specific extension period for these contribution deadlines.
Checklist
What you need before filling it out
Grantor Information
The individual who establishes the trust account · Form p.1, Article I
Trustee Identity
Must be a bank or savings and loan association (section 408(n)) or any person with IRS approval to act as trustee · Form p.1, Definitions
Designated Beneficiary Info
The individual for whom the trust account is established · Form p.1, Article I
Filing Submission
Keep the completed form in the grantor's records · Form p.2, Purpose
EIN Requirement
Required only when filing a return for unrelated business income or creating a common fund for Coverdell ESAs · Form p.2, Definitions
Before you submit
- 1Complete and verify the name, address, and date of birth of the designated beneficiary.
- 2Identify the responsible individual (generally the parent or guardian) and list their full details.
- 3Provide the full legal name and principal place of business for the trustee.
- 4Confirm that all provisions in Articles I through III are controlling articles.
- 5Ensure signatures are obtained from both the Grantor and the Trustee.
- 6If applicable, include optional provisions related to definitions, investment powers, or amendment.
- 7Keep the fully executed form in the grantor's records rather than submitting it to the IRS.
How to file this form
- 1Complete all required fields for the Grantor, Trustee, and Designated Beneficiary on Form 5305-E.
- 2Confirm that the agreement includes controlling provisions from Articles I through III of the document.
- 3Obtain the signature of the grantor and the signature of the trustee.
- 4Keep the completed form in the grantor’s records, which serves as proof that the Coverdell Education Savings Trust Account was established.
Known limitations
- 1The age limitation restricting contributions, distributions, rollover contributions, and change of beneficiary is waived for a designated beneficiary with special needs.
- 2Families of soldiers who receive military death benefits may contribute up to 100 percent of such benefits into an educational savings account, subject to certain limitations.
- 3If the responsible individual becomes incapacitated or dies after the designated beneficiary reaches the age of majority under state law, the responsible individual shall become the designated beneficiary.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is Form 5305-E (Rev. October 2016). For families of soldiers who receive military death benefits, the source notes that contributions may be made up to 100 percent of such benefits; Publication 970 explains the rules for rolling over these funds.
What changed or needs a fresh check
- Edition date — confirm the revision date reads October 2016.
- Filing location — not stated in the official source (The grantor must keep it in their records).
- Required supporting forms — Form 5305-EA is referenced for custodial accounts.
- Signatures — requires signatures from the Grantor and the Trustee, with an optional Witness signature.
Quick Facts
Downloads
After you file
- 1The grantor must keep the completed Form 5305-E in its records, as the form should not be filed with the Internal Revenue Service.
- 2Ensure the model account is fully executed by both the grantor and the trustee to establish the Coverdell education savings account.
- 3If making contributions, verify that total contributions for the tax year do not exceed $2,000, unless an exception applies.
- 4Confirm that any balance reaching the designated beneficiary when they attain age 30 is distributed within 30 days of that date.
Sources
- SRCForm p.2 — The grantor must keep the completed form in its records; do not file it with the Internal Revenue Service.
- SRCForm p.1 — If the responsible individual becomes incapacitated or dies after the designated beneficiary reaches age of majority under state law, the responsible individual shall be the designated beneficiary.
- SRCForm p.2 — Article VI states that the responsible individual may change the beneficiary to another family member described in section 529(e)(2) in accordance with the trustee’s procedures.
- SRCForm p.2 — The age limitation restricting contributions, distributions, rollover contributions, and change of beneficiary are waived for a designated beneficiary with special needs.
- SRCForm p.2 — Article VII states that the trustee agrees to submit reports prescribed by the IRS to both the Internal Revenue Service and responsible individual.
- SRCForm p.2 — Form 5305-E is described as a model trust account agreement meeting requirements of section 530(b)(1) and pre-approved by the IRS.
Common confusion points
Where must I send this completed form?
Do not file Form 5305-E with the IRS; the grantor must keep the completed form in their records.
→ Keep the form in your personal files.
If the responsible individual dies, who takes over?
If the responsible individual becomes incapacitated or dies after the designated beneficiary reaches age of majority under state law, the responsible individual assumes status as the designated beneficiary.
→ Review succession planning with the trustee.
Do I need an Employer Identification Number (EIN)?
An EIN is required only for a Coverdell ESA if a return is filed to report unrelated business income, or for a common fund created for Coverdell ESAs.
→ Confirm whether you are filing related business income or creating a common fund.
Can the beneficiary change?
The responsible individual may change the beneficiary designated under this agreement to another family member described in section 529(e)(2) in accordance with the trustee’s procedures.
→ Consult the trustee regarding eligible family members and required procedures.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Article VIII states that Articles I through III will be controlling, and any additional articles inconsistent with section 530 and related regulations will be invalid.
Questions about IRS Form 5305E
What is IRS Form 5305E used for?
This form creates a specialized trust account designed to pay for college and other qualified educational expenses. The grantor establishes the account for a specific person (the designated beneficiary). It ensures that funds are used only for approved school costs in the United States.
Who must file IRS Form 5305E?
The form is executed by the grantor and the trustee to formally establish the trust account. The responsible individual may also change the beneficiary designated under this agreement.
What information does IRS Form 5305E require?
The form collects identifying details, including names, addresses, and dates of birth for the grantor, trustee, and designated beneficiary. It establishes agreements regarding contributions and the management of the trust assets.
When is IRS Form 5305E due?
Individual contributions must be made by the due date of the designated beneficiary's tax return for that year, excluding extensions.
Where do I file IRS Form 5305E?
The grantor must keep the completed Form 5305-E in their own records and should not file it with the Internal Revenue Service.
How do I complete IRS Form 5305E?
The form is executed by the grantor and the trustee to establish the trust account. Completion requires signatures from both the grantor and the trustee, and a witness signature may be required if the grantor or trustee's signature needs witnessing.
What happens if IRS Form 5305E is filed incorrectly?
The source does not specify penalties for incomplete or incorrect filing of the Form 5305-E.
Where must I send this completed form?
Do not file Form 5305-E with the IRS; the grantor must keep the completed form in their records. Keep the form in your personal files.
Source transparency
Copyright & Licensing - US Government Forms
BrieflyGo links to and explains official public form sources. We are not a government agency, and this page is for general form guidance, not legal advice.
Understand the agreement before you sign it.
Review risky clauses in plain English, fix the document, and keep it moving toward signature.