This is a few years away yet, but I want to make sure I understand how it will work. Because we are expats, the 529s for our kids are owned by my brother. He doesn't contribute to them, he just holds them in his name and I manage them.
When we start withdrawing from them, will he need to report this on his taxes? I understand the investment company sends out tax slips, and we won't owe anything, but it has to be reported? I don't want to create a headache for him when he's doing us a favor.
It is likely that our kids will attend UK universities. Will these unis then send info to the IRS if we use 529 money?
