MAJOR Changes To 529 Plans (Rollover To Your Child's Roth IRA Explained Step By Step)

Breaking down the new 529 rules that allow you to rollover money from your child's 529 plan to their Roth IRA

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[Susan-bbox]

My 529 plan's website says, "Withdraw any unused funds up to the amount of the scholarship or grant without the 10% federal penalty, although income taxes on any earnings may apply." My child got $30K in scholarships but that was 2013-2016. And there is more than 30K left in the account. I was hoping we could get money out without 10% penalty but don't know if that would work as IRS publication not clear.

[ellisrichardson]

I am 19- if my dad puts in 7k a year for 5 years am I still able to contribute 7k of my earned income in addition to his contribution?

[Susan-bbox]

So once the money is in the Roth IRA,
is it immediately accessible?