I have a UTMA/UGMA account. Can I roll over the funds into my child's PA 529 account?
You can roll over funds from an existing UTMA/UGMA account into an existing PA 529 account, but it is important to note that the PA 529 account will then have the additional restrictions applicable to the UTMA/UGMA account. Another alternative is to open a second PA 529 account exclusively for the UTMA/UGMA rollover. By keeping UTMA/UGMA and other contributions in separate accounts, the restrictions on UTMA/UGMA would not apply to funds in the non-UTMA/UGMA 529 account. You should review the appropriate disclosure statement as it relates to UTMA/UGMA accounts before making this transaction.
- Who may contribute to a PA 529 account?
- How much can I contribute to the account?
- How do I send in money?
- How can I make regular, automatic contributions? (Payroll deduction & AIP)
- How do I roll over another 529 account into my PA 529 account?
- I have a UTMA/UGMA account. Can I roll over the funds into my child's PA 529 account?
- How often can I roll over my account?
- I have a 529 account in another state. What are the tax implications if I roll it over to a PA 529 account?
- Can I convert my Savings Bonds into tax-free college savings?
- How do I roll a Savings Bond into my PA 529 account as a tax-deferred event?
- How do I roll over a Coverdell ESA to a PA 529 account?