Beginning in 2024, unused 529 accounts can be rolled over to a ROTH IRA in the beneficiary’s name. The account must be open for at least 15 years and have no new contributions in the last five years. These rollovers will be limited to the annual ROTH IRA contribution limits, currently $6,500. There is also a lifetime limit of $35,000. These rollovers will be tax and penalty free.
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