Coverdell Education Savings Account
The Coverdell Education Savings Account is a tax-deferred education saving plan for primary, secondary or higher education expenses. Withdrawals are federal tax-free when used for qualified education expenses. An adult setting up
this account may transfer ownership to the child at age 18.
The Fund does not offer tax advice. Please contact your tax advisor to determine how current tax laws may affect your specific situation.
To Open a Coverdell Education Savings Account (New, Transfer, Rollover):
- Step 1: Read the Prospectus
- Step 2: Complete Coverdell Education application; click here for a copy.
- Step 3: Enclose check made payable to The Iman Fund with a signed application in envelope and mail.
To Set-Up an Automatic Monthly Investment Plan (IRA or Purchase application):
- Step 1: Read the Prospectus
- Step 2: On the application, fill in bank name, account number, routing number, and amount.
- Step 3: Provide a voided check or deposit slip from your bank.
- Step 4: Enclose voided check or deposit slip with remaining materials in envelope and mail.
Since a periodic investment plan involves continuous investment in securities regardless of fluctuating price levels of such securities, the investor should consider his/her financial ability to continue purchases through periods
of low price levels. Such a plan does not assure a profit and does not protect against a loss in declining markets.
*Note: You have the option of adding automatic investment plan to your account later on as well.
Account Type |
Regular Account |
IRA /Transfer IRA |
Coverdell Education Savings Account |
Automatic Monthly Investment |
Minimum Investment |
$250 |
$100 |
$100 |
$50 |
Maximum Annual Amount |
NA |
$5000 |
$2000 |
NA |
Fund Features
Key Attributes
Calculating Share Price
How to Purchase Shares
How to Sell Shares
Distribution & Taxes
Shareholder Reports & Confirmations
Investment Account
Individual Retirement Account
Fund Composition