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The IRS has extended the deadline for 2019 IRA, HSA and ESA contributions to July 15, 2020.

Coverdell ESA (Education Savings Account)

A flexible, tax-advantaged way to save for education expenses – K-12, as well as college, graduate school, vocational school, etc. You can contribute up to $2,000 per year for each student's schooling by establishing a Coverdell Savings Account through State Farm®.

A Closer Look

  • Deposits grow tax-free until distributed
  • Earnings are tax-free as long as they are used for eligible expenses – including supplies, room and board and uniforms, as well as tuition
  • Can be used to pay for primary or high school expenses, as well as higher education
  • Anyone can contribute up to $2,000 per child each year

Funding Options through State Farm Bank®

You can save in an FDIC-insured State Farm Bank Certificate of Deposit (CD). Contact State Farm Bank at 1-877-SF4-Bank (877-734-2265). If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

State Farm Bank – FDIC-insured CDs

For educational purposes only.

Neither State Farm® nor its agents provide tax or legal advice.

State Farm Bank, F.S.B., Bloomington, Illinois offers deposit and loan products. Other insurance, securities or investment products are offered by affiliate companies.

State Farm Bank ("Bank") is a Member FDIC and Equal Housing Lender. NMLS ID 139716. The other products offered by affiliate companies of State Farm Bank are not FDIC insured, not a State Farm Bank obligation or guaranteed by State Farm Bank, and may be subject to investment risk, including possible loss of principal invested. The Bank encourages any interested individual(s) to submit an application for any product(s) offered by the Bank. We also encourage you to obtain information regarding the Bank's underwriting standards for each type or credit or service offered by visiting statefarm.com® or by contacting the Bank at 877-SF4-BANK (877-734-2265). If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services. To apply for a Bank product, you may also see your participating State Farm agent.

State Farm (including State Farm Mutual Automobile Insurance Company and its subsidiaries and affiliates) is not responsible for, and does not endorse or approve, either implicitly or explicitly, the content of any third party sites hyperlinked from this page. State Farm has no discretion to alter, update, or control the content on the hyperlinked, third party site. Access to third party sites is at the user's own risk, is being provided for informational purposes only and is not a solicitation to buy or sell any of the products which may be referenced on such third party sites.