Can a 529 Plan Reimburse Myself for Last Year’s Expenses?

While there have been proposals and suggestions regarding matching 529 plan distributions with expenses in the same tax year or by March 31 of the following year, no official ruling has been made. IRS publications and tax forms do not provide explicit guidance on reimbursement withdrawal deadlines. As a result, we recommend aiming to reimburse yourself for qualified education expenses within the same year or before March 31 of the following year. If you cannot meet these deadlines, it remains uncertain whether reimbursement is still possible. We advise you to consult us to navigate this matter and make informed decisions based on your specific circumstances.