Account Rollovers are allowed.

Internal Revenue Service (IRS) rules allow funds to be rolled over from one 529 plan to another 529 plan once every 12 months for the same beneficiary. Rollover fund amounts to another state may be added to the origin state’s tax income for that year.

An owner can rollover funds between 529 plans any time for a different beneficiary as long as that beneficiary is a member of the previous beneficiary’s family. Utah’s plan limits this to 2 times per year.

Funds must be transferred to a different 529 plan within 60 calendar days from a withdrawal to be considered a qualified rollover, according to IRS rules; ie. you can’t keep the money for 3 months outside of the account, then put it in the other account.

These considerations also apply to any rollover from or to a Coverdell Education Savings Account (ESA).

Unlike other states, Utah’s my529 will report a transfer to the Utah State Tax Commission for likely taxation if a Utah taxpayer transfers money from a my529 account whose beneficiary was younger than age 19 when designated on the account to an account whose beneficiary was age 19 or older when designated on the account.