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Move Funds

Move Funds into or out of your Virginia529 Account.

Specific rules apply when moving funds, so be sure to review the Invest529 or Prepaid529 Program Descriptions and the information below before you get started.

I want to:

Move funds between Virginia529 accounts

You can move funds between your Virginia529 accounts (Invest529/Prepaid529/CollegeWealth) via rollover or an investment option change.

Only one rollover per beneficiary (student) is allowed during a rolling 12-month period. Example: moving funds from your Prepaid529 account into your Invest529 account.

Only two investment option changes per student are allowed per calender year. Example: changing portfolios on your account.

What you will need:

  • Move Funds Request

    Fund your Virginia529 account with proceeds from another 529 plan or transfer funds to or from other Virginia529 accounts.

If you'd like to move funds between Invest529 accounts and the account owners are different people, please see the Transfer Funds section for more information. If you'd like to move funds between an Invest529 account and another 529 program, please see the CollegeAmerica and Qualified Tuition Program sections.

Move funds to/from CollegeAmerica

You can move funds between a CollegeAmerica account and your Virginia529 account via an investment option change (Invest529/CollegeWealth) or a rollover (for Prepaid529 accounts).

Only two investment option changes per beneficiary (student) are allowed per calendar year. Only one rollover per student is allowed during a rolling 12-month period.

What you will need:

  • Move Funds Request

    Fund your Virginia529 account with proceeds from another 529 plan or transfer funds to or from other Virginia529 accounts.

  • Required Items

    • Copy of your CollegeAmerica statement

CollegeAmerica is available only through financial professionals and underlying investments are managed by the Capital Group, home of American Funds.

Move funds to/from a qualified tuition program other than Virginia529

You can move funds between another state's 529 plan (qualified tuition program or QTP) and your Virginia529 account via a rollover.

Only one rollover per beneficiary (student) is allowed during a rolling 12-month period and account owners on both accounts must be the same.

If you are moving funds to Virginia529 from another state's QTP and do not already have an active Invest529 account, you'll need to open a new account before you get started. You should also check with your current QTP administrator regarding any special instructions or forms needed.

What you will need:

  • Move Funds Request

    Fund your Virginia529 account with proceeds from another 529 plan or transfer funds to or from other Virginia529 accounts.

  • Required Items

    • Copy of your current QTP account statement (required)
    • Separate instruction/forms from current QTP (if necessary)
    • Signature guarantee (if necessary)
  • Application - Invest529

    Open a new Invest529 account (if necessary).

Funds can also be rolled over from a Coverdell Education Savings account or Qualified U.S. Savings Bonds. For Coverdell accounts, you must liquidate the account and deposit the funds into an Invest529 account.

What you will need:

  • Coverdell/U.S. Savings Bond Transfer

    Fund your Virginia529 account with proceeds from a Coverdell Education Savings Account(EDUCATION IRA) or Series EE or U.S. Savings Bond.

If you are moving funds out of Virginia529 to another qualified tuition program, please contact that state's plan administrator for more information.

Transfer funds to a new Account Owner

You can transfer some of your funds in your Virginia529 account to another Virginia529 account owner or student who is a member of the family of the current student (as defined in IRC Section 529). There is no limit on the number of transfers.

What you will need:

  • Move Funds Request

    Fund your Virginia529 account with proceeds from another 529 plan or transfer funds to or from other Virginia529 accounts.

Note: Moving funds between Invest529 accounts with different owners can occur when both account owners have the same portfolio for the same student, or if one account owner wants to move some funds from their Invest529 account to another Invest529 account owned by a different person. However, this particular fund movement cannot be completed online as a different form and the signatures of both account owners are required. Please contact Virginia529 to obtain the form.

If you would like to change the ownership of your account to another individual or entity, submit the Account Owner Change Form.

Ready to move your funds?

The easiest way to do this is online.

Move Funds FAQs

Yes, you may move funds from another qualified tuition program into a Virginia529 account by completing a Move Funds Request. If you do not already have an Invest529 account, you must open an Invest529 account before completing the request.

Funds may also be rolled over from Coverdell Education Savings accounts or Qualified U.S. Savings Bonds. See the Invest529 Program Description for more information.

Yes, you must liquidate the EE or I U.S. Savings Bonds and/or Education Savings Account and complete the Coverdell/US Savings Bond Transfer Form. Keep in mind, Virginia529 is not responsible for redeeming the EE or U.S. Savings Bonds or coordinating the Coverdell Account transfer with the originating financial institution. You must also provide Virginia529 with the basis and earnings for your redemption of qualified Series EE or I U.S. Savings Bonds or the transfer of a Coverdell Education Savings Account at the time these proceeds are deposited to your Virginia529 account. If the information is not received within 60 days, the entire amount will be recorded as earnings.

It typically takes approximately three (3) business days to process requests submitted online to move funds between Virginia529 accounts (if mailing paper forms, the processing time may be longer). For rollovers involving another qualified tuition program (QTP), please allow up to 30 days for processing after all required documentation is received. Account owners should check with the other QTP’s administrator regarding their processing times.

An account owner may initiate an investment option change twice per calendar year per student. If there is a change in student, an investment option change can also be made at the same time.

See all FAQs

Key Terms

A change to all or part of an Account Owner's Virginia529 Account holdings to another investment option within Virginia529 (Investment Option Change). IRS regulations permit an investment option change twice per calendar year by an Account Owner for all Virginia529 Accounts held for a specific Student. Also known as an Investment Direction Change.

A tax-free reinvestment of funds from one Qualified Tuition Program to another. Once funds are distributed there is a 60-day time frame in which funds must be deposited into the new Qualified Tuition Program. IRS regulations allow only one Rollover for the same Student during a rolling 12-month period. NOTE: Requests to move funds among Invest529 or CollegeAmerica are considered Investment Direction Changes, not Rollovers. 

A tax-free movement of funds between Virginia529 accounts where the Account Owner/Beneficiary (student) combination is different on the receiving account.