It may or may not be a problem you would like to have, but for the first time, we have a potential solution for you. As always, there are rules, so not all situations will work. That said, there is a new option to roll over unused 529 money to a Roth IRA. A few of the stipulations include:
- The beneficiary of the 529 account and the Roth IRA owner must be the same person.
- The 529 account must be open for at least 15 years before you can transfer money.
- The lifetime limit for the transfer of funds from the 529 to Roth IRA is $35,000.
For more information, please review our 529 to Roth IRA Transfer process flow. It is a great way to see if you are eligible in the matter of 2 – 3 minutes.
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