Rollover

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Rollover 2016-11-08T10:44:08+00:00
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Rollover an out-of-state 529 plan

Rolling an out-of-state 529 plan into CollegeCounts is an easy process that can provide significant benefits. As you look into the potential for a rollover, be sure to review the considerations and benefits with your tax and financial advisors.

Great Benefits for Rolling Over to the CollegeCounts 529 Fund:

  1. The State of Alabama offers an income tax deduction of up to $5,000 ($10,000 if married filing jointly) for contributions to CollegeCounts. The full amount of a rollover into the CollegeCounts 529 Fund can be included as part of this state income tax deduction.
  2. The plan offers quality investment options including Vanguard, T. Rowe Price, Fidelity, and PIMCO.

Three Easy Steps to Completing a Rollover:

  1. Review your existing out-of-state 529 with your tax and financial advisors. Consider any surrender charges or penalties the out-of-state 529 plan may impose.
  2. If you don’t have a CollegeCounts 529 Fund account, open one online or download an Enrollment Kit.
  3. Complete the Rollover Form.
    1. Obtain a Medallion Signature Guarantee on the form.
    2. Attach a copy of the latest statement from your out-of-state 529 plan.
    3. Mail the form to CollegeCounts, and let us handle the rest.
Rollover Form