SS&C Blog

BLOGS. April 5, 2024

529-to-Roth IRA Rollovers Available Now – What You Should Know

One feature of Secure Act 2.0, which was signed into law in late 2022, is a provision allowing for tax-free rollovers from Section 529 college savings accounts to Roth IRAs. Starting in 2024, 529 plan account owners or beneficiaries can roll over 529 funds into a beneficiary-owned Roth IRA tax-free and penalty-free, subject to certain limitations. This also counts toward 2023 Roth contributions made in 2024.