Transfer money from or to my 529 account

Find out how to transfer money from or to a 529 account.

What to know before transferring money

  • Withdrawing money for nonqualified expenses is allowed by the IRS but the earnings will be subject to federal income tax and a 10% federal penalty tax. There may also be state or local income tax, as well as interest or dividends tax.
  • You can transfer money between Fidelity accounts and your linked bank account.
  • After taking a withdrawal from your 529, you will be sent IRS form 1099-Q.
  • Learn more about withdrawals and paying for qualified expenses in our 529 plan FAQs.

How to transfer money to a Roth IRA

  • To request a transfer to a Roth IRA, please review and complete the withdrawal form
  • To request a transfer to a Fidelity Roth IRA from a 529 not managed by Fidelity, please contact the 529 provider. The check will be made payable to Fidelity Investments and include the Roth IRA account number (the Roth IRA should be established before the transfer).

It is your responsibility to maintain adequate records and documentation on your accounts to ensure you comply with the 529-to-Roth IRA transfer requirements set forth in the Internal Revenue Code. As of the date of this summary, the IRS has not issued guidance on the 529-to-Roth IRA transfer provision in the Act but is anticipated to do so in the future. Based on forthcoming IRS guidance, it may be necessary to change or modify some of the 529-to-Roth IRA transfer requirements. Please consult a qualified financial or tax professional regarding your specific circumstances before making any investment decision. You may have a gain or loss when you transfer your 529 assets.

How to transfer money online from a linked bank account or Fidelity account:

  • To transfer money from or to a bank account, add electronic funds transfer (EFT) to your 529 account. In most cases, you can link your bank account onlineLog In Required and start using it on the same day.
    • Log into your account and select where the money will be transferred from (sending account) or to (receiving account); an existing Fidelity account, linked bank account, or a new bank account (to be added).
    • Once you have chosen the account, or added a new bank account, enter the dollar amount you wish to transfer, then click "Continue"
    • Review your transfer details. If they are accurate, click "Submit"
  • You can start your transfer by clicking the button at the top of this page or here: Take a 529 withdrawalLog In Required.
  • If you own multiple investment portfolios in your account, the amount of your withdrawal will be taken proportionally from each. To take a withdrawal from one portfolio when there are multiple, please call or use this form, Withdrawals – 529 College Savings Plan (PDF).

529 What to expect

529 Withdrawals

  • Your withdrawal will take 2–4 business days from the time of your withdrawal request until the money is available in the account you are transferring to because the investments must be sold and the trade must settle. Then the funds are transferred.

529 Deposits

  • Deposits from a Fidelity account or linked bank account will be contributed according to your current investment selections. Contributions made from outside bank accounts may take 2-6 business days before funds are available for withdrawal.

529 to Roth IRA transfers

  • Transfers from a 529 to a Fidelity Roth IRA will be contributed account to your current investment selections. If transferring to an external Roth IRA, a check will be mailed payable and mailed to the payee listed on the withdrawal form.

Other options: Send money directly to a school or to someone else from your 529

  • Complete the 529 Standing Payment InstructionsLog In Required online form to set up check payments to a school or Electronic Funds Transfer (EFT) payments to the beneficiary. Please note: You must provide the necessary payment instructions. .
  • Once your instructions are set up, you can send payments electronically on and in the Fidelity Mobile App. You'll find your 529 recipients in the Other recipients section when making a transfer. You can also call to make a payment at 800-544-1914.
  • How to pay a school directly through BillPay:
    • Log in to your account and access BillPay by clicking "Accounts and Trade" and then "BillPay" o(if applicable): Enroll your 529 account in BillPay.
    • Choose your 529 account from the drop-down menu and click "Add a Payee"
    • Next, click "Add a Company" and type in the name of the college or university you wish to pay Note: If your college or university does not prefill, choose "Add a company manually" and complete the required fields. You must provide the instructions.
    • Now that you have added your school or university as a standing payee, return to the Payment Center and enter the dollar amount of your payment and the date you wish the payment to be delivered by and click "Review payments"
    • Review the details of your payment and, if they are accurate, click "Submit payments". Note: in most cases a physical check will be mailed to the payee, school or university. It can take 7-10 business days for the check to be received.
  • It can take 7–10 business days for the check to be received using either of these payment methods.


Call Us

Contact us at 800-544-1914