Maximum Contribution To 529 Plan 2024. As of january 1, 2024, when you discover you have extra money in your child’s 529 plan, there is a fourth option to select from. Legislation was passed giving 529 account owners the ability to roll over unused funds from a 529 college savings plan into a roth ira for the same.

Currently, a 529 plan withdrawal for anything other than qualified education expenses may be subject to income tax and a 10% penalty. Maximum aggregate plan contribution limits range from $235,000 to $529,000 (depending on the state), but such limits generally do not apply across states.