529 Rollover Reset Clock
Hello-
Regarding the 15yr rule for rolling 529 funds to a Roth IRA, if a 529 account owner rolls a 529 plan from one 529 account to another 529 account does that reset the 15yr clock?
Thank you!
Hello-
Regarding the 15yr rule for rolling 529 funds to a Roth IRA, if a 529 account owner rolls a 529 plan from one 529 account to another 529 account does that reset the 15yr clock?
Thank you!
Permalink Submitted by Alan - IRA critic on Thu, 2023-09-07 14:07
This is another of many questions that the IRS will have to clarify when they provide full guidance on these transfers. At this point, it is doubtful that this provision will be ready by 1/1/2024 or that the current 529 custodian ever captured the date that the first plan was opened.