Iowa Educational Savings Plans Trust

Can I move money from another 529 plan to College Savings Iowa?

Yes. You may perform a tax-free rollover of a 529 account for the same student as often as once every 12 months.

You can move money in 1 of 2 ways:

  • Direct rollover. Your current 529 plan custodian transfers money directly to College Savings Iowa.
  • Indirect rollover. You request a check from the current 529 plan custodian and reinvest it in College Savings Iowa within 60 days.

For a direct rollover, check with your current custodian to verify that it will accept the request for a rollover and to determine if any penalties will apply to the transaction.

When you request a direct rollover using either the Participant Agreement (for new accounts) or the Incoming Rollover Form (for existing accounts), you must provide us with a statement from the plan custodian showing the principal and earnings amounts in the 529 account at the time of distribution.

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