When must the funds in the Coverdell Education Savings Account (CESA) be depleted?
Any assets remaining in a Coverdell Education Savings Account (CESA) must be withdrawn within 30 days of the designated beneficiary’s 30th birthday. If the designated beneficiary dies before reaching age 30, the remaining assets must be withdrawn within 30 days of the date of death or transferred to a designated death beneficiary within the family who is under age 30.
Related Questions
- How do I move Education IRA funds from another financial organization into my First Bank Coverdell Education Savings Account (CESA)?
- Can I move funds from a Traditional IRA or Roth IRA into my Coverdell Education Savings Account (CESA)?
- When must the funds in the Coverdell Education Savings Account (CESA) be depleted?
