The Jumpstart Savings Program is a state-administered savings program created to help West Virginia taxpayers save money for future costs involved in the Account Owner’s or a Designated Beneficiary’s pursuit of a qualifying occupation, profession, or trade, such as the cost of tools, equipment, and business start-up expenses.

No. The Jumpstart Savings Program is a state-administered career savings account designed specifically for current and future members of the skilled workforce in West Virginia.

Any individual over 18 years of age who is legally able to contract on behalf of himself/herself can open a Jumpstart Savings Account. The Account Owner may not be a business, corporation, or enterprise. An Account Owner may open an Account for his or her own qualified expenses, and name himself or herself as Beneficiary. An Account Owner may also open a Jumpstart Savings Account and name a child, grandchild, or anyone else as the Beneficiary to save for their future qualified expenses. Since a person under 18 years of age cannot be an Account Owner, someone over 18 must be the Account Owner and name the minor as the Beneficiary in order to save money for the minor’s future qualified expenses in the Jumpstart Savings Program.

It’s easy! Just follow these four simple steps:
Step 1: Read the online program specifics to understand the program benefits and features.
Step 2: Designate a Beneficiary and gather information necessary to begin the online account opening process, including the Social Security number and date of birth for the account owner and Beneficiary.
Step 3: Make a deposit into the account and set up a monthly savings deposit if desired.
Step 4: Finalize creating the account.

There is no residency requirement. However, WV residents get the greatest benefits of the plan.

No, there is no enrollment period.  The Account Owner can open an account anytime to begin their savings.

Yes, the Account Owner may change the Beneficiary for a Jumpstart Savings Account at any time, so long as the new Beneficiary is a member of the previous Beneficiary’s immediate family.

Jumpstart Savings Account funds may be used for the Beneficiary’s qualified expenses in a qualifying profession. To learn more about how Jumpstart Savings Account funds can be spent to qualify for program benefits, please refer to Qualified Expenses.

NSF $25.00, Delivery Fee $25.00/ annually. Please see the “Fee Schedule” for itemization of all fees.

Yes! The online system will pick up where you left off after you log in to your profile.

No, there is no application fee.  However, there is a minimum contribution of $5.00 at the time of enrollment.

An occupation, profession, or trade for which the designated beneficiary is required to:
(A) Complete an apprenticeship program registered and certified with the United States Department of Labor, as provided in 29 U.S.C. § 50;
(B) Complete an apprenticeship program required by any provision of this code or a legislative rule promulgated pursuant to this code;
(C) Earn a license or certification from an Advanced Career Education (ACE) career center; or
(D) Earn an associate degree or certification from a community and technical college or from a school or program, authorized by the West Virginia Council for Community or Technical College Education or a similar agency in another state, to award associates degrees or technical certifications;
(E) Earn a license or certification from a career and technical education or vocational training program at a public secondary school; or
(F) Obtain one of the following licenses or certifications from a state or federal entity:

• Contractor license
• Plumbing license
• Crane operator license
• HVAC license
• Electrician's license
• Landscape architect's license
• Home inspector's license

(G) Obtain a culinary certification issued by the American Culinary Federation or the "ServSafe for Managers" certification issued by the National Restaurant Association as qualifying professions.
(H) Complete any other apprenticeship or educational program consistent with the purposes of this article, as approved by the board.

As part of our enhanced security features, new accounts may be placed on hold pending additional documentation that confirms the account owner’s identity. You will receive a confirmation email once your identity has been verified.

Acceptable forms of documentation:

• Valid driver’s license, passport, or government-issued identification card
• Social Security card or ITIN card
• Utility bill, lease, or deed dated within 90 days
• Bank statement dated within 90 days

To ensure the security of your account please upload documents through your online portal, or mail to our address

No. All enrollments are done online through the online portal which is available 24/7.

You may be eligible for the following:

• Ignite Incentive
• Access to a Prepaid Debit MasterCard
• Your money invested through the West Virginia Board of Treasury Investments (BTI) in its WV Money Market Pool
• Gifting via check, ACH, PayPal/Venmo
• Income Tax Deduction of up to $25,000 per tax year
• Qualified Distributions may be deductible on state taxes
• Employers may be eligible for tax credit of up to $5,000 per taxable year per employee match

To receive the $100 Ignite Incentive, your account’s Designated Beneficiary must be:

• A West Virginia resident and
• Under the age of 18 or have enrolled in qualified apprenticeship or training program within 180 days of opening the account. Qualified training program include:
• Apprenticeship programs registered and certified with the United States Department of Labor (as provided in 29 U.S.C. §50)
• Apprenticeship programs required by West Virginia law or rule
• Associate degree or certification programs from a community and technical college; or
• License or certification programs from an Advance Career Education (ACE) career center.

It could take up to 45 days for the Ignite Incentive to reflect on your account.

We accept recurring and one-time ACH payments, checks, and PayPal/Venmo payments.

Checks can be mailed to:
West Virginia Jumpstart Savings
P.O. Box 44099
Jacksonville, FL 32231

We do not accept:

• Traveler’s/Cashier’s checks
• Cash
• Money Orders
• Credit Cards (only through PayPal/Venmo)

Anyone can contribute to a West Virginia Jumpstart Savings account.

There is a $5.00 minimum payment requirement.

There is no contribution maximum. However, there is a maximum payment of $100,000 per transaction online.

No, we cannot waive fees

Yes, you can recontribute to your account.  However, a 1099-INT will still be reported for all distributions.

No, there is no timeframe for contributions.

Please allow an additional 3 business days for your request to process.

There is no maximum balance limit for a Jumpstart Savings Account.

Request a distribution through your online portal. An Account Owner may request a distribution to the beneficiary so long as the beneficiary is over the age of 18.  

Please allow an additional 3 business days for your request to process.

• Qualified
• Non-qualified

• Bad Address – A request for a stop/reissue will be submitted immediately
• Address is correct – you must wait 30 days for a stop/reissue

• ACH (received in 3-5 business days)
• Verified bank accounts
• Prepaid Card (received in 3-5 business days)
• Check (received in 7-10 business days)

A withdrawal may be held for the following circumstances:

• Your withdrawal includes funds from a contribution made within the last 10 calendar days;
• You have made a change to your mailing address and email address within the last 15 calendar days; and/or
• The account has been changed to a new Account Owner within the last 15 calendar days.

You will receive a 1099-INT if you earned at least $10 in interest.

• If you have selected U.S Mail as your delivery preference, you will receive your tax document via USPS and you will also have an online copy of it. Found under Documents – My Documents tab on your online portal.
• If electronic deliver is selected as your delivery preference, you will be able to view your tax document on your online portal under Documents – My Documents.

It will be mailed out/ released by January 31st

No, but you should keep receipts and documentation for tax recordkeeping purposes or in an event of an audit.

A Jumpstart Savings Account is different from a regular business account because of the West Virginia personal income tax advantages that may be claimed only for contributions to and qualified distributions from your Jumpstart Savings Account.

Taken together, these tax benefits are intended to allow participants to contribute to a Jumpstart Savings Account tax-free on the state level (subject to the $25,000 annual cap on contributions eligible for the decreasing WV personal income tax modification, with five-year carry forward), enjoy account interest earnings that are tax-free on the state level, then later use the account funds and earnings on qualified expenses of the account Beneficiary (which the Account Owner can name as himself/herself) that are tax-free on the federal level based on pre-existing federal deductions. Qualified distributions that are not federally deductible can be claimed as a decreasing modification to WV taxable personal income, up to $25,000 per year.

Jumpstart can serve you even if you have a business account, because you can only access certain West Virginia personal income tax advantages through contributions to and qualified distributions from a Jumpstart Savings Account.
You may wish to utilize a business checking account alongside a Jumpstart Savings Account and place longer term savings for qualified expenses in the Jumpstart Account, where the savings can earn more interest than they would in a checking account. Many individuals and business owners have a checking account that is separate from a savings account for this very reason. Additionally, you may wish to simply use the Jumpstart Savings Account as your business savings account if you keep a business account in your name only. The tax benefits of a Jumpstart Savings Account are capped at $25,000 per year for contributions and $25,000 per year for qualified distributions; however, there is no limit on the amount of money you can place in a Jumpstart Savings Account or the number of transactions you may complete with the Account.

There is nothing in the Jumpstart Savings Act preventing you from moving money between your business account and Jumpstart Savings Account. In fact, placing money from your business account into your Jumpstart Savings Account should make you eligible to claim the WV personal income tax deduction of up to $25,000 per tax year (with 5 year carry forward) for Jumpstart contributions. However, it is important to remember that taking money out of the Jumpstart Account and not using the money for the Account Beneficiary’s qualified expenses, whether you move it to your business account or spend it, will make the money a “nonqualified distribution” which is taxable personal income for WV tax purposes.

Jumpstart only offers tax advantages against West Virginia personal income taxes. Individuals practicing their trade as part of a business will need to consider if the business is structured in such a way that they will personally incur expenses carrying on the business and personally pay income tax on the business’s earnings.
An LLC, S Corp, partnership, or sole proprietorship generally works as a pass-through entity for personal income tax purposes. This means that owners pay personal income taxes on all or a portion of the business’s earnings. A Jumpstart Savings Account could be beneficial for owners of one of these businesses, if the owners are personally incurring qualified expenses and paying personal income tax on all or a percentage of the business’s earnings. It is crucial to consult a tax professional to determine whether Jumpstart is right for you and how it would function in your specific tax situation.
On the other hand, a C Corp is its own separate tax entity, and it pays income tax at the corporate tax rate. Corporation shareholders receive income in the form of dividends and pay taxes on this income at the dividend rate. Expenses of a corporation cannot be used to claim West Virginia personal income tax benefits available to Jumpstart Savings Program participants.

The Jumpstart Savings Program is not structured to discourage individuals from claiming federal tax deductions for their business expenses; in fact, you cannot claim a WV personal income tax deduction for Jumpstart Savings Account distributions that you are able to deduct on your federal tax return.
The Jumpstart Savings Program is set to allow Account Owners to pair the WV personal income tax deduction for Jumpstart Contributions with existing federal deductions for ordinary and necessary business expenses, business start-up costs, and capital business improvements. When there is no federal deduction available for a qualified expense, there is a separate state deduction for qualified distributions.
Taken together, these tax benefits are intended to allow participants to contribute to a Jumpstart Savings Account tax-free on the state level (subject to the $25,000 annual cap on the reducing personal income tax modification, with five-year carry forward), enjoy account interest earnings that are tax-free on the state level, then later use the account funds and earnings on qualified expenses that are tax-free on the federal level based on pre-existing federal deductions. Qualified distributions that are not federally deductible can be claimed as a deduction against WV personal income tax, up to $25,000 per year.

• Save on your taxes as you put money away
  Any West Virginia taxpayer, including the Account Owner himself or herself, may claim a West Virginia personal income tax deduction of up to $25,000 per tax year for the money he or she puts into a Jumpstart Savings Account. Learn more.
• Save on state taxes as you withdraw money to spend
  Qualified distributions that are not federally deductible or reimbursed by an employer can be deducted from the Account Owner’s West Virginia taxable personal income up to $25,000 per tax year. Learn more.

Log in to your online portal and complete a full withdrawal.  Select the full withdrawal (close account) option.

No, accounts will not expire.

No, but you can request a withdrawal from your Jumpstart account and then transfer the funds to another institution indirectly. For example, you could withdraw the funds to your personal bank account and then initiate a transfer from there to your new financial institution.

Yes. You can set up automatic recurring payments through your online access. 

No. This is not an available contribution method. However, your employer can submit a Gift Contribution form with a check and mail to:
West Virginia Jumpstart Savings
P.O. Box 44099
Jacksonville, FL 32231

To make an address change, please log in to your account in the online portal and request the change from the Profile tab.

You will need to complete a Change of Beneficiary or Change of Account owner form and upload under Documents – Upload Documents on your online portal.

You will need to complete an Account Maintenance form and upload under Documents – Upload Documents on your online portal.

You will need to complete a Change of Account Owner/ Beneficiary form and submit legal documentation such as Driver’s License or Government ID.

You will need to complete a Change of Account Owner/ Beneficiary form and submit a copy of the SSN card

It is easy! Just look for the account login button in the top right-hand corner of the home page. If you haven’t created an online account yet, you will need to register for online access. Begin at https://access.wvjumpstart.gov

An Authorized Agent can be added or deleted by completing an Account Maintenance Form.

The Authorized Agent can only ask questions but does not have authorization to make changes or request money.

You can submit a Gift Contribution form with a check and mail to:
West Virginia Jumpstart Savings
P.O. Box 44099
Jacksonville, FL 32231

You can go to the following website to check the performance of your investment.
https://wvbti.gov/Home/Investments/Rates

The account is invested in the WV Money Market Pool through WV Board of Treasury Investments

Multi-factor authentication verifies an individual’s identity by sending a one-time code to the account owner’s selected authentication method. You can choose to have the code sent by email or text. You will be sent a code to allow you to log in to your account, update information, and perform certain transactions.

Yes! You can add your bank information through your online account under the Profile tab.  

As part of our enhanced security features, new accounts may be placed on hold pending additional documentation that confirms the account owner’s identity. You will receive a confirmation email once your identity has been verified.

Acceptable forms of documentation:

• Valid driver’s license, passport, or government-issued identification card
• Social Security card or ITIN card

Utility bill dated within 90 days, bank statement dated within 90 days, lease, or deed

After account verification we may reset the invalid login attempts for the account owner. 

If you no longer have access to your multi-factor authentication option (email or text), please complete the ID Verification Form

For your security we can only speak about account-specific information with the account owner or an individual you have designated as an Authorized Agent. Note: Beneficiaries and Successors cannot transact or speak on behalf of the owner.