Exploring the details and limitations of transferring excess funds from a 529 college savings plan to a Roth IRA after the Secure 2.0 Act, with a maximum lifetime rollover of $35,000 per beneficiary and various restrictions. Insights on complexities of Roth IRA rollovers, 529 accounts, rollover limits, income constraints, and state tax implications. Navigating the step-by-step process of requesting distributions from a 529 plan for Roth IRA rollovers, direct payments to the IRA custodian, and IRS reporting requirements. Understanding 529 account eligibility and compliance, seeking professional guidance for updates, and clarifying roles of UBS Financial Services Inc.
