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:
- 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.
- The plan offers quality investment options including Vanguard, T. Rowe Price, Fidelity, and PIMCO.
Three Easy Steps to Completing a Rollover:
- 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.
- If you don’t have a CollegeCounts 529 Fund account, open one online or download an Enrollment Kit.
- Complete the Rollover Form.
- Obtain a Medallion Signature Guarantee on the form.
- Attach a copy of the latest statement from your out-of-state 529 plan.
- Mail the form to CollegeCounts, and let us handle the rest.