Posts in Rollovers
Can I roll over my Oregon College Savings Plan account into an Oregon ABLE Savings Plan?

Yep! A specific ABLE provision was included in the tax bill signed into law at the end of 2017. Money from an Oregon College Savings Plan account can now be rolled over into a beneficiary’s (or eligible family member’s) ABLE account without being penalized. There is a $15,000 rollover limit (minus the ABLE contributions already made during the current year).

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

RolloversRachel Diesel
How can I roll over the funds in my Oregon College Savings Plan account into another 529 College Savings Plan?

You can choose to roll over part or all of the funds in your Oregon College Savings Plan account into another 529 plan by filling out a rollover form from your new 529 College Savings Plan. Keep in mind that if you roll over your entire account balance, your Oregon College Savings Plan account will still remain open until you decide to close it.

You can make one rollover in a 12-month period without being taxed. And note, there is a $25 rollover fee for rollovers outside of Oregon’s plan.

RolloversRachel Diesel
How can I roll over funds from another 529 College Savings Plan into my Oregon College Savings Plan account?

It’s easy. Just download and complete our Rollover Form (PDF). Remember, you can transfer funds from another 529 College Savings Plan into an Oregon College Savings Plan account without incurring any federal income tax if you do so within a 12-month period and if the funds are for the same beneficiary or a family member. Also, worth noting, the plan from which you are transferring funds may have different features and fees, so it’s best to consult your tax advisor and your other 529 College Savings Plan manager before you initiate your rollover.

RolloversRachel Diesel