Convert 529 Plan To Roth Ira 2024 Pdf

Convert 529 Plan To Roth Ira 2024 Pdf. Beginning in 2024, a new feature makes a 529 plan an even more flexible and powerful tool. A $1.7 trillion government funding package has a provision that lets savers roll money from 529 plans to roth individual retirement accounts free of income tax or tax penalties.

🎓 new this year, a change in the rules for 529 education savings plans allows excess money not used for a beneficiary’s education to be rolled over to a roth individual retirement. Starting in 2024 — thanks to “ secure 2.0,” a slew of measures affecting retirement savers — families can roll unused money from 529 plans over to roth.