Can I roll over a 529 College Savings Plan into my ABLE account?

Yes, in 2018, Congress passed the ABLE Financial Planning Act, which allows you to roll over money from a 529 College Savings account into a beneficiary’s (or family member’s*) ABLE account without being penalized.

There is a $16,000 rollover limit (less the current tax-year ABLE contributions).

You can use the appropriate 529 College Savings to ABLE Rollover Form.

*The family member must be considered a qualified “Member of the Family” as defined by the 529 College Savings Plan, which includes: biological and stepparents, aunts, uncles, siblings, children, first cousins, nieces and nephews; parents, siblings, children, nieces and nephews by marriage; legally adopted children; and half-brothers or half-sisters, of the 529 College Savings account beneficiary.