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I opened a 529 years ago for my child's college. At that time I listed myself as the beneficiary because it was easy and a 529 beneficiary can be readily changed.

Now, with the incoming change to allow a 529 to IRA rollover, I'd like to start contributing to my child's IRA early, but I think I will need to change the 529's beneficiary to do so.

Does the account just need to have been open for 15 years? Or does the account need to have listed the specific person as the beneficiary for 15 years prior to IRA rollover?

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  • I'm almost certain that there's still no guidance on this yet. Congress laid the foundation but the details haven't been ironed out.
    – Stan H
    Commented Feb 10, 2023 at 17:48
  • Consider gift tax consequences as well, since you'll be gifting the balance.
    – littleadv
    Commented Feb 10, 2023 at 17:51

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