For more information regarding college savings plans, please visit www.collegesavings.org
When discussing transfers from UTMA or UGMA to a 529 Plan
Transfers from an UTMA or UGMA to a 529 Plan may violate specific state laws. A 529 Plan can only accept cash, thus, any securities in a UTMA/UGMA account would have to be sold. Capital gains could become a taxable reporting event for the minor. You should seek the advice of a qualified professional to determine all of the legal consequences of this type of transfer.
Investment and insurance products offered through RBC Wealth Management are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, or guaranteed by, a bank or any bank affiliate, and are subject to investment risks, including possible loss of the principal amount invested.