{"data":{"id":"us-mn/minn.-stat.-462d.04","jurisdiction":"us-mn","citation":"Minn. Stat. § 462D.04","heading":"ACCOUNT HOLDER RESPONSIBILITIES.","body":"Subdivision 1. Expenses; reporting.\nThe account holder must:\n(1) not use funds in a first-time home buyer savings account to pay expenses of administering the account, except that a service fee may be deducted from the account by the financial institution in which the account is held; and\n(2) submit to the commissioner, in the form and manner required by the commissioner:\n(i) detailed information regarding the first-time home buyer savings account, including a list of transactions for the account during the taxable year and the Form 1099 issued by the financial institution for the account for the taxable year; and\n(ii) upon withdrawal of funds from the account, a detailed account of the eligible costs for which the account funds were expended and a statement of the amount of funds remaining in the account, if any.\nSubd. 2. Transfers.\nAn account holder may withdraw funds, in whole or part, from a first-time home buyer savings account and deposit the funds in another first-time home buyer savings account held by a different financial institution or the same financial institution.","path":["LOCAL GOVERNMENT POLICE POWERS","CHAPTER 462D. FIRST-TIME HOME BUYER SAVINGS ACCOUNT ACT"],"source_url":"https://www.revisor.mn.gov/statutes/cite/462D.04","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:47Z","sha256":"c5856b7440644090ac3b63db545d7abbd7346fbfa482e7bab1905b1db22db902","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-462d.03","next":"us-mn/minn.-stat.-462d.05"},"notice":"GroundRules: Original legal text. Not legal advice."}