Can I rollover money from another 529 plan to New Yorks 529 College Savings Program Direct Plan?
Yes. Generally, you can rollover your assets for the same beneficiary from an account in one state plan to an account in another state plan without federal tax consequences if the rollover does not occur within 12 months from the date of a previous transfer to any 529 plan for that beneficiary. However, there may be state income tax consequences (and in some cases state-imposed penalties) resulting from such a rollover. You can also rollover money from education savings accounts, Uniform Gifts/Transfers to Minors (UGMA/UTMA) accounts, and U.S. savings bonds to your Program account. Documentation of principal and earnings from these investments is required.
