Can I roll over a 529 College Savings Plan into my ABLE account?

Yes, you can roll over money from a 529 College Savings Plan into an ABLE account without penalties. The person with a disability (or a family member*) needs to be listed as the beneficiary of the 529 account. You can roll over money from any 529 account into Oregon ABLE.

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

If the person with a disability was listed as the beneficiary of both the 529 and ABLE account, the most that can be rolled over in a calendar year is $18,000. If other money has already been contributed to the ABLE account that year, then they can only roll over whatever amount is left before they hit the $18,000 annual contribution limit.

*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.