OR-529: Schedule OR-529, Oregon 529 College Savings Plan Direct Deposit for Personal Income Tax Filers (2025)
Oregon · Oregon DOR · Used for tax years 2025
2025 Schedule OR-529 lets Oregon individual income tax filers direct their refund to up to four existing Embark or MFS 529 Savings Plan accounts. It also lets filers authorize the release of information to Upward Oregon to establish an Embark account for a named beneficiary.
Who files this form
The 2025 Schedule OR-529 is for individual income tax filers who want to:
- Use Part 1 to deposit their refund into up to four existing Embark (formerly Oregon College Savings Plan) or MFS 529 Savings Plan accounts.
- Use Part 2 to share information with Upward Oregon (formerly Oregon Treasury Savings Network) to establish an Embark account.
You must include this schedule with your Oregon income tax return.
What you'll need
Have your last name and Social Security number ready.
For Part 1, gather the information for each account receiving a deposit:
- Embark: portfolio code and account number.
- MFS 529 Savings Plan: fund number and account number.
- The amount to deposit into each account.
For Part 2, the form asks for the beneficiary’s name, Social Security number, date of birth, street address (no PO Box), and relationship code. It also asks for your email, signature, and date. The form refers you to the instructions for the relationship code.
How to file
Include Schedule OR-529 with your Oregon income tax return.
For direct deposits into existing accounts, complete Part 1. Select the plan for each deposit, enter the account details and amount, and add lines 1g–4g on line 5. Enter that total on the applicable return:
- Form OR-40, line 51.
- Form OR-40-N, line 75.
- Form OR-40-P, line 74.
To elect to establish an Embark account, complete all fields in Part 2 and sign and date the election. The election authorizes the Department of Revenue to release that information to Upward Oregon for this purpose.
Common mistakes
Follow these reminders printed on the form:
- Use UPPERCASE letters and blue or black ink.
- Print at actual size (100%).
- Do not submit photocopies or use staples.
- Include the schedule with your Oregon income tax return.
- Do not use a PO Box for the beneficiary’s address.
- Complete all fields in Part 2 when making the account creation election.
Questions people ask
How many existing accounts can receive my refund?
Part 1 allows deposits into up to four existing Embark or MFS 529 Savings Plan accounts.
Can I use this schedule to establish an Embark account?
Yes. Part 2 lets you share information with Upward Oregon for establishing an Embark account for the named beneficiary.
What does signing the Part 2 election authorize?
It authorizes the Department of Revenue to release the information in Part 2 to Upward Oregon for the express purpose of establishing the Embark account.
Do I need to include the schedule with my return?
Yes. The form says you must include it with your Oregon income tax return.