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 for at least 5 years). Any rollover is also subject to current Roth IRA contribution limits.
For specific information about your tax situation, please consult an investment adviser or certified public accountant.
