Tag Archives: 529 Rollover
Investors with remaining balances in 529 college-savings plans may roll unused balances into tax-free Roth IRAs for the benefit of named beneficiaries without risk of penalties or income-tax exposure. This provides young people with an opportunity to start saving for their future via an investment vehicle that offers tax-free growth and tax-free withdrawals in retirement. […]
Generous grandparents have even more reasons to establish 529 educational savings plans for their grandchildren in 2024 when new Roth IRA rollover provisions are in effect. Generally, contributions to 529 plans grow tax-deferred and can be withdrawn by beneficiaries tax-free when used to pay for qualifying education expenses, including tuition, books, computers, and room and […]