<p>First of all check the provisions for your 529 plan since they can have their own rules. In general, just about anyone can contribute to the plan. However, you might want to check out who benefits more with the contibution since some plans have state tax benefits that you might get if your son gave you the money and you contributed it to the account, rather than he directly does so. </p>
<p>However, also understand, and he has to understand the implications of contributing to a 529 that someone else owns even though he is the beneficiary. He can lose the right to that money since the owner of the account can change the beneficiary at any time. I don’t know how the plan would work if anything should happen to you either, if he isn’t specifically named to take over the plan. These are all issues you and he need to discuss and understand. </p>
<p>Some years ago, a friend of mine found out the hard way that the 529 beneficiary can easily be changed. It never occurred to her that her ex would spend the money on classes for himself or others that was put away for their kids. He did. So it is very important that your son and you understand how this works and the risks, advantages of the plan you have. It may be better to have him give you the money to contribute for tax purposes, but then for him to open his own plan and have the contribution amount transferred over Again there are rules that individual plans have that have to be observed. Those need to be carefully studied and understood.</p>