Annual 529 Contribution Limit 2024

Annual 529 Contribution Limit 2024. Individuals may contribute as much as $75,000 to a 529 plan in 2020. Beneficiaries are allowed to roll over up to $35,000 over their lifetime into a roth ira in their name (not the original 529 account holder’s name).

Responding to this problem, lawmakers included a provision in the secure 2.0 act that can help free a limited amount of funds held in a 529 plan account. In 2024, you can contribute up to $18,000 per beneficiary per year before you’d need to file irs form 709.