A Beneficiary is the person of your choosing who is entitled (by the Account Owner) to the benefits of the savings. They must be a U.S. citizen or alien resident with a SSN or valid taxpayer identification number. But there can only be ONE Beneficiary per account. There are no restrictions on the numbers of accounts for a specific Beneficiary. There are no age restrictions on the Beneficiary. The Account Owner does not need to be related to the Beneficiary. You can even name yourself as the Beneficiary.