How does payroll work for 529s?

There is currently no payroll integration support for 529s. To upload 529 contributions for your employees, you’ll need to download the payroll template in your employer dashboard. There will be a column for 529 contributions. If your 401(k) plan has an integration, you will need to submit the 529 contributions via the manual payroll contribution.

529 contributions do not have any relationship with 401(k) contributions. They will be separately deducted from the employer’s bank account, resulting in two ACH transactions.

Multiple benefits can be uploaded on one payroll file.