Move Funds

Move funds between existing accounts

You can move funds between your existing 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. The account owner should be the same on both accounts. Example: moving funds from your Prepaid529 account into your Invest529 account.

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

What you’ll need:

Reminder: If you're moving the full amount of your account, you must stop any scheduled contributions (e.g., bill pay, payroll deductions, ACH) to this account.

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 account via an investment option change (Invest529/CollegeWealth) or a rollover (Prepaid529).

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’ll need:

Reminder: If you’re moving the full amount of your account, you must stop any scheduled contributions (e.g., bill pay, payroll deductions, ACH) to this account.

Move funds to/from another qualified tuition program

You can move funds between another state’s 529 plan (qualified tuition program or QTP) and your Invest529 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 from another state’s 529 plan 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 529 plan administrator regarding any special instructions or forms needed.

What you’ll need:

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’ll need:

If you are moving funds to another qualified tuition program, please contact that plan’s administrator for more information.

Reminder: A Form 1099-Q will be sent to the account owner for the current tax year. Make sure your current address is updated on your Invest529 or Prepaid529 account. Address updates can be completed online or by contacting Customer Service.

Transfer funds to a new Account Owner

You can transfer some of your funds in your existing account to another existing account owner or to your student’s sibling or other qualifying family member (as defined in IRC Section 529). There is no limit on the number of transfers.

What you’ll need:

Moving funds between Invest529 accounts with different owners can occur when:

• both account owners have the same portfolio for the same student or
• one account owner wants to move some funds from their Invest529 account to another Invest529 account owned by a different person

Note: This type of movement cannot be completed online and signatures the of both account owners are required. Please contact Customer Service to obtain the necessary form.

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

Roll over funds to a Roth IRA

Starting January 2, 2024, you can roll over unused funds from your Invest529 or Prepaid529 account into your student’s Roth IRA, subject to certain requirements.

Account owners are responsible for determining the balance and eligibility of their Invest529 or Prepaid529 account. You can access your account balance and history by signing into your online account.

There are some rules regarding 529 to Roth IRA rollovers:

• The rollover must go into an existing Roth IRA account owned by the beneficiary (student) currently listed on the Invest529 or Prepaid529 Account.
• The 529 account must have been opened for at least 15 years (including any years spent with another qualified tuition program.)
• The eligible amount cannot be more than the balance of the 529 account as of five years prior to the rollover date.
• Rollovers from one or more 529 account(s) to a Roth IRA for the same beneficiary may not exceed $35,000 in total.
• Rollovers cannot exceed annual contribution limits. For 2024, the Roth IRA contribution limit is $7,000 ($8,000 if over 50 years old), which includes any other contributions the individual may have made during the year.
• A rollover to a Roth IRA is not counted towards the annual 529 rollover limit.

What you will need: