Names and addresses
The depositor, the designated beneficiary with address and date of birth, the responsible individual with address, and the custodian with address or principal place of business. A box marks an amendment.
5305-EA
Coverdell Education Savings Custodial Account
- Agency
- IRS
- Revision
- Rev. October 2016
- Fillable fields
- 15
- Pages
- 2
- Official source
- IRS form page
- Checked
- October 21, 2026
Form 5305-EA: Coverdell Education Savings Custodial Account
Form 5305-EA is a model custodial 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 depositor and the custodian.
The form names the depositor, the designated beneficiary, the responsible individual and the custodian, 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 depositor keeps the completed form in its records. If the model account is a trust account, the form points to Form 5305-E 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-EA
Opening statement
The depositor's statement establishing the account and the amount of cash assigned to it, in dollars.
Articles I to III: contributions, investments and distributions
Article I sets contribution limits, Article II bars investment in life insurance contracts and commingling, and Article III covers distribution at age 30 or at death.
Articles IV to VI: control of the account
Who directs investments, who serves as responsible individual, an option to keep the responsible individual after the age of majority, and whether the beneficiary may be changed.
Articles VII to X: reports and added terms
Reporting duties, which articles control, amendments, and Article X for any additional provisions.
Signatures
Lines for the depositor's, custodian's and witness' signatures and dates. The form says the witness line is used only if a signature has to be witnessed.
How to fill out Form 5305-EA
- 1
Enter the names
Enter the depositor, designated beneficiary, responsible individual and custodian, with the addresses and date of birth the form asks for. Check the box if this is an amendment.
- 2
Amount assigned
Enter the amount in cash the depositor assigns to the custodial account, in words and in the dollar box.
- 3
Article V option
The form says the option is effective only if checked. When checked, the responsible individual keeps serving after the beneficiary reaches the age of majority under state law.
- 4
Article VI
Check 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).
- 5
Article X
The form says to draw a line through this space if no other provisions will be added. The instructions say added pages can be attached as necessary.
- 6
Sign
The depositor and the custodian sign and date. The witness signs only if the depositor's or custodian's signature is required to be witnessed.
Why fill Form 5305-EA on indox
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Where it goes, limits and identification numbers
Do not file with the IRS
The form says "Do not file with the Internal Revenue Service." The instructions say the depositor keeps the completed form in its records.
Contribution limit
Article I says total contributions that are not rollover contributions are limited to $2,000 for the tax year, and that additional cash contributions are accepted only before the beneficiary attains age 18.
Income phase-out
Article I says the $2,000 limitation for an individual contributor is phased out between modified AGI of $95,000 and $110,000, or $190,000 and $220,000 for married individuals filing jointly.
Distribution at age 30
Article III says any balance is distributed within 30 days of the date the designated beneficiary attains age 30. The instructions say age limits are waived for a beneficiary with special needs.
Identification numbers
The instructions say the depositor's and beneficiary's social security numbers serve as their identification numbers, and an EIN is needed only in the cases they list.
Reports
Article VII says the depositor gives the custodian the information needed for reports, and the custodian submits the reports prescribed by the IRS to the IRS and the responsible individual.
Related forms
5305-E
Coverdell Education Savings Trust Account
15 fields, 2 pages
5305-A
Traditional Individual Retirement Custodial Account
10 fields, 2 pages
5305
Traditional Individual Retirement Trust Account
10 fields, 2 pages
5305-C
Health Savings Custodial Account
6 fields, 2 pages
5305-B
Health Savings Trust Account
6 fields, 2 pages
Who completes Form 5305-EA?
The form is an agreement between the depositor and the custodian. Both sign it, and it is not filed with the IRS.
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Questions about Form 5305-EA
Is Form 5305-EA sent to the IRS?
No. The form says not to file it with the Internal Revenue Service, and the instructions say the depositor keeps the completed form in its records.
When is the Coverdell ESA established?
The instructions say the account is established after the form is fully executed by both the depositor and the custodian.
Who can be the custodian?
The instructions say a bank or savings and loan association as defined in section 408(n), or any person who has IRS approval to act as custodian. Anyone who may serve as custodian of a traditional IRA may serve.
What is the difference between Form 5305-EA and Form 5305-E?
Form 5305-EA is for a custodial account. The instructions say that if the model account is a trust account, see Form 5305-E, Coverdell Education Savings Trust Account.
Can more provisions be added to the agreement?
Yes. The instructions say Article X and any that follow may add provisions agreed to by the depositor and custodian, and the form says they have to comply with state law and the Internal Revenue Code.
What happens when the beneficiary turns 30?
Article III says any balance is distributed to the designated beneficiary within 30 days of the date he or she attains age 30.