Can I roll over a 529 College Savings Plan into my Oregon ABLE account?
Yes. Changes in the law now allow for money from a 529 College Savings Plan to be rolled over into an ABLE account for that beneficiary, or an eligible family member*, without being penalized. Please note, there is a $19,000 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.
*The family member must be considered one of the following: biological and stepparents, aunts, uncles, siblings, children, first cousins, nieces and nephews, parents, siblings, children, nieces and nephews by marriage, legally-adopted children, and half-brothers or half-sisters of the 529 College Savings account beneficiary.
