Convert 529 Plan To Roth Ira 2024 Usa

Convert 529 Plan To Roth Ira 2024 Usa. The rollover provision took effect beginning in 2024. For 2024, the limit is $7,000 for individuals younger than 50.

Of course, you can change the beneficiary of the 529 plan and then roll over the money. Starting in 2024, you can roll unused 529 assets—up to a lifetime limit of $35,000—into the account beneficiary’s roth ira, without incurring the usual 10% penalty for nonqualified.