5632: 2024 MOST - Missouri's 529 College Savings Plan Direct Deposit Form - Individual Income Tax (2024)
Missouri · Missouri DOR · Used for tax years 2024
Missouri Form 5632 lets you request a direct deposit of all or part of your individual income tax refund into Missouri MOST 529 Education Plan accounts. It lists account numbers and contribution amounts for up to four accounts, along with the total deposit.
Who files this form
Include Form 5632 with your 2024 Missouri Individual Income Tax Return if you want to deposit all or part of your refund into one or more Missouri MOST 529 Education Plan accounts.
You must have an open Missouri MOST 529 Education Plan account administered by the Missouri Education Program. Your total deposit must be at least $25, and you may contribute to no more than four accounts.
What you'll need
Have the following information and return ready:
- Your name and Social Security number, plus your spouse’s information if applicable.
- The 11-digit MOST 529 account number for each account receiving a deposit.
- The amount you want contributed to each account.
- Your 2024 Missouri Individual Income Tax Return, Form MO-1040 or Form MO-1040A, where you will also enter the total deposit.
How to file
- Enter your taxpayer information on Form 5632.
- Enter the 11-digit MOST 529 account number and contribution amount for each account, using Lines A through D for up to four accounts.
- Add the amounts on Lines A through D and enter the total on Form 5632.
- Enter that same total on Form MO-1040, Line 52, or Form MO-1040A, Line 17.
- Include Form 5632 with your 2024 Missouri Individual Income Tax Return.
The form does not provide a mailing address or e-filing directions.
Common mistakes
- Do not leave Form 5632 out of your Missouri Individual Income Tax Return if you are requesting a MOST 529 refund deposit.
- Make sure your account is open and administered by the Missouri Education Program.
- Do not request a total deposit of less than $25 or contributions to more than four accounts.
- Use the 11-digit MOST 529 account number for each account.
If your overpayment is adjusted and your requested deposit exceeds your available refund, the Department will cancel the deposit and issue a refund to you. If your refund is offset to pay another debt, the Department will cancel the deposit.
Questions people ask
Can I deposit only part of my refund?
Yes. You may deposit all or part of your refund into Missouri MOST 529 Education Plan accounts. Your total deposit must be at least $25.
Can I split my deposit among multiple accounts?
Yes. You may contribute to up to four accounts. Enter each account’s 11-digit number and the amount you want contributed.
Where do I enter the total on my 2024 tax return?
Enter the total on Form MO-1040, Line 52, or Form MO-1040A, Line 17, as well as on Form 5632.
What happens if my refund is reduced?
If an adjustment to your overpayment leaves an available refund smaller than your requested deposit, the Department will cancel the deposit and issue a refund to you. If your refund is offset to pay another debt, the Department will cancel the deposit.
Where can I get information about MOST 529 accounts?
Visit missourimost.org, call (888) 414-6678, or email most529@missourimost.org.