Four important but often unknown aspects of 529 college savings plans were highlighted in a recent MarketWatch article. First, you have payment options when taking account distributions. Second, the IRS will be made aware of your withdrawals by the plan administrator. Third, your withdrawal may not be tax-free even in a year with significant college expenses. And fourth, you can usually change the account beneficiary so that you can pay for your own qualified education expenses. You can read the entire September 10, 2013 article here.