Arkansas Code
Chapter 84 - Tax-Deferred Tuition Savings Program
§ 6-84-107. Accounts

(a)
(1) An account owner or contributor may establish an account by making an initial contribution to the Arkansas Tax-Deferred Tuition Savings Program, signing an application form approved by the Section 529 Plan Review Committee and naming the account owner and the designated beneficiary.
(2) If the contributor is not the account owner, the account owner shall also sign the application form.
(3) Any person may make contributions to an account after the account is opened.
(4)
(A) An Arkansas employer of an employee with an account established under this chapter may make a matching contribution to the account of the employee offered as an employee fringe benefit.
(B) The maximum contribution amount allowed under subdivision (a)(4)(A) of this section is five hundred dollars ($500) per contributing employee per year.

(b) Contributions to an account shall be made only in cash.
(c) Total contributions to all accounts shall not exceed those reasonably necessary to provide for the qualified higher education expenses of the beneficiary, and the committee shall establish maximum contribution limits applicable to program accounts.
(d) Separate records and accounting shall be required by the program for each account, and reports shall be made no less frequently than annually to the account owner.
(e)
(1) The program shall be permitted to collect application, account, or administrative fees to defray the costs of the program.
(2) The application, account, or administrative fees must be approved by the committee.