Can I Transfer Amounts or Change Beneficiaries?

Amounts can be transferred to other qualified state tuition programs and beneficiaries can be changed.

Amounts in a qualified state tuition program can be transferred tax free to the qualified state tuition program of another beneficiary. The transfer must be completed within 60 days of the distribution and the other beneficiary must be a family member (as defined later) of the beneficiary from whose program the transfer is made.

The beneficiary of a qualified state tuition program can be changed. However, the new beneficiary must be the existing beneficiary's spouse or one of the family members listed below.

Family members. If the beneficiary does not use amounts in the program, they can be transferred tax free to the beneficiary's spouse or any of the following other members of the beneficiary's family.

1. Son or daughter or descendant of son or daughter.
2. Stepson or stepdaughter.
3. Brother, sister, stepbrother or stepsister.
4. Father or mother or ancestor of either.
5. Stepfather or stepmother.
6. Son or daughter of a brother or sister.
7. Brother or sister of father or mother.
8. The spouse of any individual listed above.

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