Rolling excess 529 plan funds into Roth IRA accounts (PFP Section)

SECURE 2.0 allows 529 plans to be rolled into Roth IRAs beginning in January 2024. To learn more about the specifics of what is allowed, Bob Keebler, CPA/PFS, interviews education expert, Ross Riskin, CPA/PFS, in this episode of the PFP Section podcast. Ross responds to the following questions.

• What are the primary tax benefits of 529 plans?
• What are the most important things to know about the new provision in SECURE 2.0?
• Where do we need to seek further clarification and what potential traps do we need to watch out for when rolling 529 plans into Roth IRAs?
• What should CPAs recommend to their clients now?

RELATED RESOURCES 

Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

• Find decision charts updated for 2023 in the Proactive Planning Toolkit. 
• Use the Guide to Education Planning to support your clients. 

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients.

Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. 

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. Feedback and comments welcomed at podcast@aicpa-cima.com