Common use of Rollover and Transfer Contributions Clause in Contracts

Rollover and Transfer Contributions. ▇▇▇▇▇▇▇▇▇ ESAs may be rolled over to another ▇▇▇▇▇▇▇▇▇ ESA for the same Designated Beneficiary, or to another ▇▇▇▇▇▇▇▇▇ ESA for another Designated Beneficiary who is an eligible Family Member so long as the new Designated Beneficiary is under the age of 30. • Trustee-to-Trustee transfers are allowed between ▇▇▇▇▇▇▇▇▇ ESAs that are registered in the name of a single Designated Beneficiary. Trustee-to-Trustee transfers are also allowed between ▇▇▇▇▇▇▇▇▇ ESAs of a Designated Beneficiary and a Family Member of the Designated Beneficiary. • The amount of any rollover or transfer must be deposited into the receiving ▇▇▇▇▇▇▇▇▇ ESA within 60 calendar days after the amount is withdrawn from the distributing ▇▇▇▇▇▇▇▇▇ ESA. • Only one rollover between ▇▇▇▇▇▇▇▇▇ ESAs is allowed during a 12-month (365 day) period. • Rather than rolling over or transferring the assets of a ▇▇▇▇▇▇▇▇▇ ESA to another ▇▇▇▇▇▇▇▇▇ ESA, the Designated Beneficiary of a ▇▇▇▇▇▇▇▇▇ ESA may be changed (or redesignated as) to another Designated Beneficiary who has not attained age 30 and who is a Family Member. 1. What are Qualified Education Expenses? 2. What are Qualified Higher Education Expenses? Qualified Higher Education Expenses also include room and board if the Designated Beneficiary is at least a half-time student at an eligible educational institution. A student will be considered to be enrolled at least half-time if the student is enrolled for at least half the full-time academic workload for the course of study the student is pursuing as determined under the standards of the institution where the student is enrolled.

Rollover and Transfer Contributions. ▇▇▇▇▇▇▇▇▇ ESAs may be rolled over to another ▇▇▇▇▇▇▇▇▇ ESA for the same Designated Beneficiary, or to another ▇▇▇▇▇▇▇▇▇ ESA for another Designated Beneficiary who is an eligible Family Member so long as the new Designated Beneficiary is under the age of 30. • Trustee-to-Trustee transfers are allowed between ▇▇▇▇▇▇▇▇▇ ESAs that are registered in the name of a single Designated Beneficiary. Trustee-to-to- Trustee transfers are also allowed between ▇▇▇▇▇▇▇▇▇ ESAs of a Designated Beneficiary and a Family Member of the Designated Beneficiary. • The amount of any rollover or transfer must be deposited into the receiving ▇▇▇▇▇▇▇▇▇ ESA within 60 calendar days after the amount is withdrawn from the distributing ▇▇▇▇▇▇▇▇▇ ESA. • Only one rollover between ▇▇▇▇▇▇▇▇▇ ESAs is allowed during a 12-month (365 day) period. • Rather than rolling over or transferring the assets of a ▇▇▇▇▇▇▇▇▇ ESA to another ▇▇▇▇▇▇▇▇▇ ESA, the Designated Beneficiary of a ▇▇▇▇▇▇▇▇▇ ESA may be changed (or redesignated as) to another Designated Beneficiary who has not attained age 30 and who is a Family Member.. Qualified Education Expenses 1. What are Qualified Education Expenses? 2. What are Qualified Higher Education Expenses? Qualified Higher Education Expenses also include room and board if the Designated Beneficiary is at least a half-half- time student at an eligible educational institution. A student will be considered to be enrolled at least half-time if the student is enrolled for at least half the full-time academic workload for the course of study the student is pursuing as determined under the standards of the institution where the student is enrolled.