Is it possible to transfer funds from a custodial account to the NC 529 Plan?
Yes. If you are the custodian of an account established under the Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA), you may transfer cash proceeds from that account to the NC 529 Plan. However, the Beneficiary of the new NC 529 Account must be the same as the beneficiary of the custodial account, because under the rules of the original account, the beneficiary cannot be changed and will become the holder of the account at the age of majority. Your new savings Account also will be subject to the UGMA/UTMA custodial account terms and conditions and applicable state law.
