Participants who experienced domestic abuse are allowed to withdraw the lesser of $10,000, indexed for inflation, or 50% of the participant’s vested account. Distributions are not subject to the 10% tax on early distributions made under this provision. Participants...
Tax and Penalty Free
Special rules for certain distributions from long-term qualified tuition programs to Roth IRAs
Amends the Internal Revenue Code to allow for tax and penalty free rollovers from 529 accounts to Roth IRAs, under certain conditions. Beneficiaries of 529 college savings accounts would be permitted to rollover up to $35,000 over the course of their lifetime from any...