can i transfer a 529 plan to another child
Transferring funds from one 529 plan to another is a straightforward process. A 529 plan is a great way to save for your child's future education expenses. One benefit of this type of college savings account is that it offers flexibility in terms of what you can do with the money.For instance, if your child decides not to go to college or doesn't use all of her plan money, you can transfer the 529 account to another child or beneficiary. Funds from the old 529 plan must be deposited into the new account within 60 days to avoid a tax penalty. 2  If your child uses the transferred 529 plan funds for any purpose other than qualified education expenses, you might be subject to a tax penalty.