Home / FAQ / Frequently Asked Questions - Rollovers and Transfers Can I roll over funds from another 529 plan into the Minnesota College Savings Plan? Can I transfer assets in a Coverdell Education Savings Account to the Minnesota College Savings Plan? Can assets from an UGMA/UTMA account be transferred to the Minnesota College Savings Plan? Can I roll over funds from another 529 plan into the Minnesota College Savings Plan? You are permitted to transfer funds from another 529 college savings plan to an account in the Minnesota College Savings Plan 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. Can I transfer assets in a Coverdell Education Savings Account to the Minnesota College Savings Plan? 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 the Minnesota College Savings Plan? 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.

WE'RE HERE TO HELP Have a question you don't see listed? Need clarification? Call us toll-free at 1-877-338-4646 We're available 7:00 am to 7:00 pm Central Time, Monday - Friday. Don't forget you can set up an Automatic Contribution Plan (PDF, 50KB) or use Payroll Deduction (PDF, 46KB) 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. Tell a Friend Let a friend know about the Minnesota College Savings Plan. Calculate Your Savings Need Compare College Savings Options Questions? Call 1-877-338-4646

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The tax information contained on the Minnesota College Savings 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.

Consider the investment objectives, risks, charges and expenses before investing in the Minnesota College Savings Plan. Please call toll-free 1(877) 338-4646 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.

TIAA-CREF Individual & Institutional Services, LLC, distributes Minnesota College Savings Plan. The State of Minnesota, 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 except for TIAA-CREF Life Insurance Company’s guarantee to Minnesota College Savings Plan under the funding agreement for the Guaranteed Option. Account value will fluctuate based upon a number of factors, including general market conditions.

The Minnesota College Savings Plan Web site contains links to other Web sites. Neither Minnesota College Savings Plan nor TIAA-CREF Tuition Financing, Inc. 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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© 2009 TIAA-CREF Tuition Financing, Inc. TIAA-CREF Individual & Institutional Services, LLC, distributes Minnesota College Savings Plan. 2009 TIAA-CREF Tuition Financing Inc.