topic Can I withdraw money from one son's 529 plan to cover expenses for another son in a masters program if his 529 plan is closed out? in Education

Can I withdraw money from one son's 529 plan to cover expenses for another son in a masters program if his 529 plan is closed out?

csroach — Thu, 06 Jun 2019 13:46:27 GMT

Can I do this without changing the beneficiary of the funded account?

Hal_Al — Thu, 06 Jun 2019 13:46:29 GMT

No. But what you can do is make a direct transfer of funds from one son's account to another's (or start a new account for him) and then draw the money out. See https://budgeting.thenest.com/transfer-529-plan-money-another-child-25989.html

csroach — Thu, 06 Jun 2019 13:46:31 GMT

Thank you. I needed that confirmation.