February 20, 2019

Can I roll over a 529 College Savings Plan into my ABLE United Account?

Yes, you can roll over money from a 529 College Savings Account into a Beneficiary’s (or family member’s*) ABLE United Account without being penalized.

These types of rollovers count toward the $17,000 maximum annual contribution limit.

You can use a 529 College Savings to ABLE United Direct Rollover Form if the movement of funds is coordinated by the 529 College Savings Plan Manager and ABLE United.

You can use a 529 College Savings to ABLE United Indirect Rollover Form if the funds have been withdrawn from the 529 College Savings Plan.

*The family member must be considered a qualified “Member of the Family” as defined by the 529 College Savings Plan, which includes: biological and step-parents, aunts, uncles, siblings, children, first cousins, nieces and nephews; parents, siblings, children, nieces and nephews by marriage; legally adopted children; and half-brothers or half-sisters) of the 529 College Savings Account Beneficiary.