Can I transfer or roll over money from another 529 plan or UGMA/UTMA account?
You can rollover or transfer assets from another Qualified Tuition Program, Coverdell Education Savings Account, or Qualified U.S. Savings Bond redemptions into your Alabama Higher Education 529 Fund account without incurring federal income taxes (assuming certain requirements are met). You will need to complete a Transfer/Rollover Form and provide additional documentation on the assets, including earnings information. UGMA/UTMA assets also may be contributed to an Alabama Higher Education 529 Fund account if permitted under the applicable UGMA/UTMA. Please consult your tax advisor before transferring such funds. UGMA/UTMA accounts are subject to special rules, including a restriction on the ability to change the beneficiary of these accounts. An investor should consider the investment objectives, risks, charges and expenses associated with the Program before investing. All of this information, including risk factors and possible tax consequences, is contained in the Program Disclosure
You can roll over or transfer assets from another Qualified Tuition Program, Coverdell Education Savings Account, or Qualified U.S. Savings Bond redemptions into your Alabama Higher Education 529 Fund account without incurring federal income taxes (assuming certain requirements are met). You will need to complete a Transfer/Rollover Form and provide additional documentation on the assets, including earnings information. UGMA/UTMA assets may also be contributed to an Alabama Higher Education 529 Fund account if permitted under the applicable UGMA/UTMA. Please consult your tax advisor before transferring such funds. UGMA/UTMA accounts are subject to special rules, including a restriction on the ability to change the beneficiary of these accounts. 1 Estimates based on 2006-2007 inflation-adjusted tuition, fees, room and board, as reported in The College Board’s “Trends in College Pricing,” 2006. 2 Alabama residents also have another tax-advantaged investment opportunity for college: The P
