Kentucky Education Savings Plan Trust

Frequently Asked Questions - Rollovers and Transfers

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Can I roll over funds from another 529 plan into KESPT ?
You are permitted to transfer funds from another 529 college savings plan to an account in KESPT for the same beneficiary once within a 12-month period without incurring federal income tax. The 529 college savings plan from which you are transferring funds may be subject to differences in features, costs and surrender charges You should consult with your tax advisor or the other 529 college savings plan. State and local taxes may apply. To do a rollover, use the Rollover Form (PDF, 51KB).

Can I transfer assets in a Coverdell Education Savings Account to KESPT?
Yes, but you should discuss this with your financial advisor to determine if there are any tax or other consequences. To do a transfer, use the Rollover Form (PDF, 56KB).

Can assets from an UGMA/UTMA account be transferred to KESPT?
Yes, though transferring UGMA/UTMA assets into a 529 plan account may result in a tax liability. You should discuss this with your financial advisor.

Read more FAQs.
 

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Have a question you don't see listed? Need clarification?

Call us toll-free at
1-877-KY TRUST
(1-877-598-7878)

We're available 8:00 am - 8:00 pm Eastern Time, Monday - Friday.


Don't forget you can set up an Automatic Contribution Plan (PDF, 157KB) or use Payroll Deduction (PDF, 45KB) for your contributions (if offered by your employer).

PDF files require the free Adobe Acrobat Reader. Get it here.

Access our glossary for the meanings of terms used throughout this site.

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The tax information contained on the Kentucky Education Savings Plan Trust (the Plan) Web site is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed in the Web site. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

The Plan is administered by the Kentucky Higher Education Assistance Authority. TIAA-CREF Tuition Financing, Inc. (TFI) serves as Program Manager. TFI's affiliate, TIAA-CREF Individual & Institutional Services, LLC, is the distributor.

The investment approaches described are not recommendations and do not take into consideration personal goals or preferences. After evaluating information you consider important in making an investment choice, the ultimate decision is up to you. It is a good idea to revisit your investment strategy periodically as your goals, personal financial situation, and market conditions change.

Consider the investment objectives, risks, charges and expenses before investing in the Plan. Please call toll-free 1-877-KY TRUST (1-877-598-7878) for a Disclosure Booklet containing this information. Read it carefully.

Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.

The State of Kentucky, its agencies, TIAA-CREF Tuition Financing, Inc., Teachers Insurance and Annuity Association of America and its affiliates do not insure any account or guarantee its principal or investment return. Account value will fluctuate based upon a number of factors, including general market conditions.

The Plan Web site is for informational purposes only, and does not constitute an offer to sell or solicitation of an offer to buy any security that may be referenced on the site. Such offer or solicitation can be made only through the Disclosure Booklet.

The Plan Web site contains links to other Web sites. Neither the Plan Trust nor TFI and its affiliates are responsible for the content of those other Web sites. The accuracy of information on those sites cannot be confirmed.

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© 2007 TIAA-CREF Tuition Financing Inc.