Beneficiaries of qualified tuition programs under Section 529 of the Internal Revenue Code (“529 accounts”) will have a new opportunity starting January 1, 2024.  Under SECURE Act 2.0 (the “Act”), 529 account beneficiaries will be able to rollover funds from the 529 account into a Roth IRA without incurring tax or penalties providing certain requirements are met.

Broker-dealers and registered representatives (“advisors”) will want to know about this rule so as to advise families and students about the funding and related planning considerations for 529 accounts.

Continue reading “A New Opportunity for 529 Account Beneficiaries – Tax-Fee Rollovers to Roth IRAs”