5305-E

Coverdell Education Savings Trust Account

Agency
IRS
Revision
Rev. October 2016
Fillable fields
15
Pages
2
Official source
IRS form page
Checked
October 21, 2026
Fill 5305-E online
Page 1 of form 5305-E

Form 5305-E: Coverdell Education Savings Trust Account

Form 5305-E is a model trust account agreement under section 530 of the Internal Revenue Code. The instructions on the form say it meets the requirements of section 530(b)(1) and has been pre-approved by the IRS, and that a Coverdell education savings account (ESA) is established after the form is fully executed by both the grantor and the trustee.

The form names the grantor, the designated beneficiary, the responsible individual and the trustee, records the cash amount the grantor assigns to the trust, and then sets out Articles I to X of the agreement. The form says the account is for paying the qualified elementary, secondary, and higher education expenses of the designated beneficiary.

The form says "Do not file with the Internal Revenue Service." The instructions say the grantor keeps the completed form in its records. If the model account is a custodial account, the form points to Form 5305-EA instead. You can fill it out free in your browser on this page and download the result without an account.

What's on Form 5305-E

Names, addresses and opening amount

Grantor, designated beneficiary (with address and date of birth), responsible individual and trustee, a box to check for an amendment, and the dollar amount the grantor assigns in cash.

Articles I to III

Contribution rules, including the $2,000 annual limit and its phase-out, a ban on life insurance and commingling, and distribution of the balance at age 30 or at death.

Articles IV and V

Who directs the trustee on investments, and the rules for the responsible individual and a successor, with an optional box for keeping the responsible individual after the age of majority.

Article VI

Boxes for whether the responsible individual may or may not change the beneficiary to another member of the beneficiary's family described in section 529(e)(2).

Articles VII to IX

Reporting duties of the grantor and the trustee, the rule that Articles I through III control, and how the agreement is amended.

Article X and signatures

Space for additional provisions, then signature and date lines for the grantor, the trustee and a witness.

How to fill out Form 5305-E

  1. 1

    Names and addresses

    Enter the grantor, the designated beneficiary with address and date of birth, the responsible individual and the trustee with its address or principal place of business. Check the amendment box only if the form amends an existing agreement.

  2. 2

    Opening amount

    Enter, in words and in figures, the dollars the grantor assigns to the trust in cash.

  3. 3

    Article V option

    Check the option only if the responsible individual is to keep serving after the beneficiary reaches the age of majority under state law. The form says the provision is effective only if checked.

  4. 4

    Article VI

    Check may or may not to show whether the responsible individual can change the beneficiary under this agreement.

  5. 5

    Article X

    Add any provisions agreed to by the grantor and the trustee, attaching pages as needed. The form says to draw a line through the space if no other provisions will be added.

  6. 6

    Signatures

    The grantor and the trustee sign and date. The witness line is used only if a signature is required to be witnessed.

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Where it goes, identification numbers and limits

Do not file with the IRS

The instructions say do not file Form 5305-E with the IRS. Instead, the grantor keeps the completed form in its records.

When the account exists

The instructions say a Coverdell ESA is established after the form is fully executed by both the grantor and the trustee.

Identification numbers

The grantor's and the beneficiary's social security numbers serve as identification numbers. The instructions say an EIN is required only for an ESA filing a return to report unrelated business income, and for a common fund created for Coverdell ESAs.

Contribution limits

Article I limits contributions other than rollovers to $2,000 for the tax year, phased out between modified AGI of $95,000 and $110,000, or $190,000 and $220,000 for married individuals filing jointly.

Special needs beneficiaries

The instructions say the age limits on contributions, distributions, rollovers and change of beneficiary are waived for a designated beneficiary with special needs.

Trustee reports

In Article VII the trustee agrees to submit the reports prescribed by the IRS to the IRS and to the responsible individual.

Related forms

Who completes Form 5305-E?

  • Grantor

    The instructions define the grantor as the person who establishes the trust account. The grantor signs, assigns the opening cash amount and keeps the completed form.

  • Trustee

    The instructions say the trustee must be a bank or savings and loan association as defined in section 408(n), or any person who has IRS approval to act as trustee. The trustee signs.

  • Responsible individual

    Generally a parent or guardian of the designated beneficiary. Article IV gives this person the power to direct investment of additional contributions and, unless the agreement says otherwise, the administration of the account.

  • Designated beneficiary

    The individual on whose behalf the account is set up. The form asks for the beneficiary's name, address and date of birth.

  • Witness, only if required

    The form has a witness signature line to use only if the signature of the grantor or the trustee is required to be witnessed.

  • Not for custodial accounts

    The instructions say that if the model account is a custodial account, see Form 5305-EA, Coverdell Education Savings Custodial Account.

The grantor and the trustee sign the agreement. The form also names a designated beneficiary and a responsible individual, who do not sign it.

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Questions about Form 5305-E

Is Form 5305-E sent to the IRS?

No. The form says "Do not file with the Internal Revenue Service." The instructions say the grantor keeps the completed form in its records.

What is the difference between Form 5305-E and Form 5305-EA?

Form 5305-E is the model trust account agreement, signed by a grantor and a trustee. The instructions point to Form 5305-EA when the model account is a custodial account.

What contribution limit does the form state?

Article I says contributions that are not rollovers are limited to $2,000 for the tax year, with a phase-out by modified AGI, and that additional cash contributions are accepted only before the beneficiary reaches age 18.

What happens when the beneficiary turns 30?

Article III says any balance is distributed to the beneficiary within 30 days of the date the beneficiary reaches age 30. The instructions say the age limits are waived for a beneficiary with special needs.

Who can be the trustee?

The instructions say a bank or savings and loan association as defined in section 408(n), or any person with IRS approval to act as trustee. Anyone who may serve as trustee of a traditional IRA may serve.

Can the beneficiary be changed?

Article VI has boxes saying the responsible individual may or may not change the beneficiary to another member of the beneficiary's family described in section 529(e)(2), following the trustee's procedures.