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

We'd be sorry to see you go! 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.

RolloversGuest User
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.

RolloversGuest User
What happens when someone sends a gift to my account?

When a gift contribution is finished processing, you’ll receive an email letting you know that someone has contributed to your account. You’ll also be able to see the gift contribution in your online activity feed if you sign into your account. For security purposes, any gift contributions that are made through your online Gifting Page won’t be available for withdrawal for 10 business days.

GiftingGuest User
Can a family member or friend open a new account for a beneficiary as a gift?

Absolutely! Any family member or friend can open an Oregon College Savings Plan account for a beneficiary  as long as they’re a U.S. citizen or resident and have a valid Social Security number. They will also need the beneficiary’s Social Security number, date of birth, basic contact information, and an initial $25 contribution to open the account.

As the account owner, they can choose how they would like their gifted money to be invested and may also benefit from federal estate tax benefits. Anyone who contributes to an OCSP account is also eligible for an annual state income tax credit up to $340.

GiftingGuest User
How will my gift contribution be invested?

Any gift contribution to an Oregon College Savings Plan account is invested based on the preferences and choices of the account owner. The only way you can have control over how your gift contribution will be invested is if you open an account for the beneficiary yourself. Thankfully, that couldn’t be easier with the Oregon College Savings Plan. All you need is a few minutes and $25 to get started!

GiftingGuest User
How do I make gift contributions?

Our plan manager, Vestwell State Savings, LLC, dba Sumday Administration, makes it easy to make gift contributions to an Oregon College Savings Plan account. You can open an account for the beneficiary or, if they already have an account set up, you can contribute directly to their personal Gifting Page. And you can always make offline contributions with our Gift Form (PDF).

You can also connect any BottleDrop account to an Oregon College Savings Plan account. As you recycle your cans and bottles, those deposits go directly to the savings account of your choosing.

Note, gift contributions can be made online for as little as $5 or as much as $15,000 per transaction, but any amount beyond that requires filling out the Gift Form (PDF).

GiftingGuest User