Each parent can contribute up to $15,000 a year ($30,000 per couple) towards their child’s plan as of 2018 to qualify for the annual federal gift tax exclusion.
If you would like to contribute more, you can superfund the next 5 years to accelerate up to $75,000 per parent ($150,000 per couple) using the option of one-time deposit.
However, we recommend you to initiate a monthly plan and contribute to your child’s account regularly and consistently to avoid investing at an unfavorable time.