Can I move money from another 529 plan to Upromise College Fund?
Yes. You may perform a tax-free rollover of a 529 account for the same beneficiary as often as once every 12 months. You may move money by direct rollover (money is transferred directly from your current 529 plan manager to Upromise College Fund) or by indirect rollover (you request a check for the amount from the current 529 plan manager and reinvest it in Upromise College Fund within 60 days). Check with your current program manager to verify that it will accept our request for a rollover and to determine if any penalties will apply to the transaction. When you request a direct rollover for new accounts, you must submit both the Enrollment Form and the Incoming Rollover Form. When you request a direct rollover for existing accounts, you only need to submit the Incoming Rollover Form. You must also provide us with a statement from the program manager showing the basis and earnings amounts in the 529 account at the time of the withdrawal.
