Managing Your Plan

• September 22, 2023

  Managing Your Plan

  Can I roll over leftover funds from my child’s 529 Savings Plan into an IRA?

  Starting January 2024, you may choose to transfer (roll over) remaining 529 Savings Plan funds to a beneficiary’s Roth IRA (Individual Retirement Account). The lifetime maximum a parent can transfer is $35,000 per beneficiary, and the account must have been open for 15 years (with rollover funds in the account…

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• January 31, 2019

  Managing Your Plan

  Can a Florida 529 Savings Plan be opened jointly?

  A Florida 529 Savings Plan is owned and managed by a single Account Owner. However, after you enroll, you may name a Survivor who will have a right of survivorship. In addition, for plans purchased after to February 1, 2009, the Survivor will also have certain limited rights of approval…

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• January 31, 2019

  Managing Your Plan

  What happens if I move?

  If you or your student move out of state at some point, your plan will continue as if you never left Florida.…

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• January 31, 2019

  Managing Your Plan

  Can I transfer my Florida 529 Savings Plan to someone else?

  Yes. Florida 529 Savings Plan ownership can be transferred at any time to an individual 18 years of age or older and a U.S. citizen or legal U.S. resident. In addition, funds may be transferred from one Florida 529 Savings Plan to another for a member of the student’s family.…

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• January 31, 2019

  Managing Your Plan

  Can I cancel my Florida 529 Savings Plan or withdraw my funds early?

  Yes. You may cancel your Florida 529 Savings Plan and withdraw funds at any time and for any reason. Please keep in mind, any earnings that are not used for Qualified Higher Education Expenses are subject to federal and, if applicable, state income taxes. In addition, there is a 10%…

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• January 31, 2019

  Managing Your Plan

  What if my student does not go to college?

  You may transfer your Florida 529 Savings Plan to another eligible student (including yourself). Starting January 2024, you may also choose to transfer (roll over) remaining 529 Savings Plan funds to a beneficiary’s Roth IRA (Individual Retirement Account). The lifetime maximum a parent can transfer is $35,000 per beneficiary, and…

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