Coverdell ESAs

Coverdell Education Savings Accounts

A Coverdell Education Savings Account (ESA) offers a way to save for a child's education — from elementary/secondary all the way up to post-graduate studies — with tax-free earnings until funds are distributed.

  • AIB sets up ESA offerings as a one-year IRA
  • $2,000 per year maximum contribution
  • After the child is 18 years old, you can no longer make contributions to this account
  • The money must be used strictly for qualified educational expenses
  • There are limits on the amount that any individual can contribute for any one designated beneficiary for each year

For more information on Coverdell Education Savings Accounts, please click here.

Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPC, an independent broker/dealer, and are:

  • Not deposits
  • Not insured by FDIC or any other government agency
  • Not guaranteed by the financial institution
  • Subject to risk, may lose value
  • Unless otherwise indicated, investment products offered through Amarillo National Bank are subject to risks.
  • IRA's are insured by FDIC, if invested in the form of a CD in an FDIC member bank.

Amarillo National Bank and Raymond James Financial Services are independent entities.

Raymond James financial advisor may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.

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