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Move Unused College Savings to a Roth IRA Retirement Account

A new law allows some unused funds from long-term college savings plans (529 accounts) to be transferred to a Roth IRA retirement account. This provides more flexibility in managing future savings, combining education and retirement goals.
Key points
You can transfer money from a college savings account (529) to a Roth IRA retirement account.
This only applies to 529 accounts you've had for at least 10 years.
Money contributed in the last 5 years cannot be transferred.
The amount you can transfer each year is limited to the annual Roth IRA contribution limit.
These changes take effect starting January 1, 2023.
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Additional Information
Print number: 117_S_4400
Sponsor: Sen. Burr, Richard [R-NC]
Process start date: 2022-06-14
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

College Savings Recovery Act.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4400.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-06-14.

What are the main provisions?

Key points include:

  • You can transfer money from a college savings account (529) to a Roth IRA retirement account.
  • This only applies to 529 accounts you've had for at least 10 years.
  • Money contributed in the last 5 years cannot be transferred.
  • The amount you can transfer each year is limited to the annual Roth IRA contribution limit.
  • These changes take effect starting January 1, 2023.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Burr, Richard [R-NC].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Education