II 

117TH CONGRESS 

2D SESSION S. 4400 

To amend the Internal Revenue Code of 1986 to allow for special rollovers 

to Roth IRAs from long-term qualified tuition programs. 

IN THE SENATE OF THE UNITED STATES 

JUNE 14, 2022 

Mr. BURR (for himself and Mr. CASEY) introduced the following bill; which 

was read twice and referred to the Committee on Finance 

A BILL 

To amend the Internal Revenue Code of 1986 to allow for 

special rollovers to Roth IRAs from long-term qualified 

tuition programs. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘College Savings Recov5 ery Act.’’ 

6 SEC. 2. SPECIAL ROLLOVER TO ROTH IRA FROM LONG7 TERM QUALIFIED TUITION PROGRAM. 

8 (a) IN GENERAL.—Paragraph (3) of section 529(c) 

9 of the Internal Revenue Code of 1986 is amended by add10 ing at the end the following new subparagraph: 


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1 ‘‘(E) SPECIAL ROLLOVER TO ROTH IRA

2 FROM LONG-TERM QUALIFIED TUITION PRO3 GRAM.—For purposes of this section— 

4 ‘‘(i) IN GENERAL.—In the case of a 

5 distribution from a qualified tuition pro6 gram which has been maintained by an ac7 count owner in one or more qualified tui8 tion programs for the 10-year period end9 ing on the date of such distribution— 

10 ‘‘(I) subparagraph (A) shall not 

11 apply to any portion of such distribu12 tion which is paid in a direct trustee13 to-trustee transfer to a Roth IRA 

14 maintained for the benefit of such ac15 count owner or the designated bene16 ficiary under such qualified tuition 

17 program, and 

18 ‘‘(II) such portion shall be treat19 ed as a rollover contribution for pur20 poses of section 408A(e). 

21 ‘‘(ii) LIMITATION.—Clause (i) shall 

22 only apply to so much of any distribution 

23 as does not exceed the lesser of— 

24 ‘‘(I) the amount applicable to the 

25 account owner or the designated beneVerDate Sep 11 2014 15:58 Jun 15, 2022 Jkt 029200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S4400.IS S4400

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1 ficiary, as the case may be, under sec2 tion 408A(c)(2) for the taxable year 

3 (reduced by the amount of aggregate 

4 contributions made during the taxable 

5 year before the date of such distribu6 tion to all individual retirement plans 

7 maintained for the benefit of the ac8 count owner or designated beneficiary, 

9 as the case may be), or 

10 ‘‘(II) the aggregate amount con11 tributed to the program (and earnings 

12 attributable thereto) before the 5-year 

13 period ending on the date of the dis14 tribution. 

15 ‘‘(iii) ACCOUNT OWNER.—For pur16 poses of this subparagraph, the term ‘ac17 count owner’ means the individual who es18 tablished the qualified tuition program ac19 count under applicable State law.’’. 

20 (b) QUALIFIED ROLLOVER CONTRIBUTION.—Para21 graph (1) of section 408A(e) of such Code is amended— 

22 (1) by striking the period at the end of sub23 paragraph (B) and inserting ‘‘, and’’, 

24 (2) by inserting after subparagraph (B) the fol25 lowing new subparagraph: 


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1 ‘‘(C) from a qualified tuition program to 

2 the extent provided in section 529(c)(3)(E).’’, 

3 and 

4 (3) by adding at the end the following new sen5 tence: ‘‘Under regulations established by the Sec6 retary, the earnings and contributions of any quali7 fied tuition program from which a qualified rollover 

8 contribution is made under subparagraph (C) shall 

9 be treated in the same manner as the earnings and 

10 contributions of a Roth IRA from which a qualified 

11 rollover contribution is made under subparagraph 

12 (A).’’. 

13 (c) REPORTING.—Section 529(d) of such Code is 

14 amended— 

15 (1) by striking ‘‘Each officer’’ and inserting the 

16 following: 

17 ‘‘(1) IN GENERAL.—Each officer’’, 

18 (2) by striking ‘‘by this subsection’’ and insert19 ing ‘‘by this paragraph’’, and 

20 (3) by adding at the end the following new 

21 paragraph: 

22 ‘‘(2) ROLLOVER DISTRIBUTIONS.—In the case 

23 of any distribution described in subsection (c)(3)(A), 

24 the officer or employee having control of the quali25 fied tuition program (or their designee) shall provide 


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1 a report to the trustee of the Roth IRA to which the 

2 distribution is made. Such report shall be filed at 

3 such time and in such manner as the Secretary may 

4 require and shall include information with respect to 

5 the contributions, distributions, and earnings of the 

6 qualified tuition program as of the date of the dis7 tribution described in subsection (c)(3)(A), together 

8 with such other matters as the Secretary may re9 quire.’’. 

10 (d) EFFECTIVE DATE.—The amendments made by 

11 this section shall apply with respect to distributions after 

12 December 31, 2022. 

Æ 


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