Here's what I did in 2024, transferring from Vanguard to Fidelity. I imagine it would be similar for other providers.I want to change the beneficiary of a 529 plan and move it to a new provider.
Should I just create a 529 in the new provider and roll it over, or should I change the beneficiary on the current provider and then roll it over?
I recently rolled over a 529 plan from Vanguard (Nevada) to Fidelity (New Hampshire).
Step 1: access the Vanguard 529 plan online to confirm account owner's name, the beneficiary's name & SSN, and the account number. You want to know exactly what they are so they match up when you create a new plan - it'll help avoid problems during the rollover.
Step 2: open a 529 account at Fidelity (or wherever)
- Make sure you enter the owner's name and beneficiary's name & SSN accurately.
- Make your fund selections for any new money contributions. When the rollover money comes in, that's how it'll be invested - at least with Fidelity I didn't separately indicate how rollover money specifically would be invested as opposed to other contributions. So decide how you want your 529 account allocated beforehand.
Step 3: request a rollover. Depending on the 529 plan, you may be able to do this online, or you may have to fill out a form and mail it in. Fill it out accurately and double check it.
At Fidelity, I had to fill out a rollover form and mail it in (https://www.fidelity.com/bin-public/060 ... ctions.pdf). The bottom of the form has space for a Medallion Signature Guarantee, which is sometimes needed by the outgoing firm (Vanguard in this context). But I called Vanguard and they said they didn't need an MSG. Indeed, I didn't get one and my rollover went through.
It took about a week for the rollover request to be received and acknowledged (by Fidelity), and another week for the funds to be sent from Vanguard to Fidelity and invested.
Statistics: Posted by sycamore — Fri Jan 30, 2026 12:58 pm — Replies 1 — Views 39