A new law allows for the conversion of up to $35,000 from 529 plans to Roth IRAs, addressing concerns over overfunding. The beneficiary of the 529 must also be the account holder of the Roth IRA, and there are specific rules, including a 15-year account requirement and annual contribution limits. Notably, while the child must have earned income, typical income limits for Roth contributions do not apply to this conversion.
