Yes, you can transfer a Coverdell ESA to a sibling. Federal law under IRC Section 530 allows tax-free and penalty-free transfers of Coverdell Education Savings Account funds to a qualified family member — and siblings are on that list. The catch is the receiving sibling must be under age 30 and the transfer must follow strict IRS rules, or the family faces income tax on earnings plus a 10% penalty.
About 4.8 million families hold some form of education savings account in the United States, yet many parents have no idea they can shift unused Coverdell money between children. One wrong move — a missed deadline, a botched rollover, or a forgotten form — triggers taxes that wipe out years of tax-free growth.
Here’s what you’ll learn in this article:
- 📜 The exact federal statute that allows sibling transfers and who qualifies as a “family member”
- 💰 The difference between a trustee-to-trustee transfer and a 60-day rollover — and why picking the wrong one costs you money
- ⚠️ The Age 30 cliff that forces a taxable “deemed distribution” if you miss the window
- 🔄 When it makes more sense to roll a Coverdell into a 529 plan instead of transferring to a sibling
- 🛡️ The top mistakes families make with Coverdell transfers — and how to avoid every single one
What a Coverdell ESA Actually Does
A Coverdell Education Savings Account is a tax-advantaged savings account designed to pay for a child’s education expenses. The account was created in 1998 under the Taxpayer Relief Act and was originally called the “Education IRA.” It was renamed in 2002 after Senator Paul Coverdell.
The money inside a Coverdell ESA grows tax-free, and withdrawals are also tax-free as long as the funds pay for qualified education expenses. Those expenses cover a wide range — tuition, books, supplies, equipment, and even room and board for higher education. Unlike a 529 plan, a Coverdell ESA also covers K–12 private school tuition and related costs like tutoring and uniforms.
The annual contribution limit is $2,000 per beneficiary — not per account. That means if a parent and a grandparent each have a Coverdell for the same child, the combined contributions from all accounts cannot exceed $2,000 in a single year. Any amount above that limit triggers a 6% excise tax each year the excess remains in the account.
Contributors must also meet income limits. A single filer with modified adjusted gross income (MAGI) below $95,000 can contribute the full $2,000. Joint filers need MAGI below $190,000 for the full amount. Contributions phase out between $95,000–$110,000 for single filers and $190,000–$220,000 for joint filers.
The Federal Law That Makes Sibling Transfers Legal
IRC Section 530 is the federal statute that governs every Coverdell ESA. It spells out who can receive a tax-free transfer and under what conditions. The law uses the term qualified family member to define the group of people eligible to receive transferred Coverdell funds.
A brother or sister — including a stepbrother or stepsister — is listed as a qualified family member under the statute. This means a parent can move leftover Coverdell money from one child’s account to another child’s account with zero tax consequences, as long as the receiving sibling is under age 30.
The full list of qualified family members is broader than most people realize:
| Qualified Family Member | Relationship to Beneficiary |
|---|---|
| Spouse | Married partner of the beneficiary |
| Child, stepchild, adopted child, foster child, or descendant | Direct descendants |
| Brother, sister, stepbrother, stepsister | Siblings and step-siblings |
| Father, mother, stepfather, stepmother | Parents and step-parents |
| Aunt or uncle | Parent’s siblings |
| Niece or nephew | Sibling’s children |
| Son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, sister-in-law | In-laws |
| Spouse of any individual listed above | Extended in-law connections |
| First cousin | Child of an aunt or uncle |
The key requirement is that the receiving family member must be under age 30 at the time of the transfer. The only exception is for beneficiaries with special needs, who are exempt from the age restriction entirely.
Transfer vs. Rollover: Two Ways to Move Coverdell Money
There are two legal methods to move Coverdell ESA funds to a sibling. Each method has different rules, different risks, and different limits. Picking the wrong method — or mixing up the deadlines — can turn a tax-free move into a taxable event.
The Trustee-to-Trustee Transfer
A trustee-to-trustee transfer moves the money directly from one financial institution to another. The account owner (called the “responsible individual”) never touches the cash. The funds go straight from the old Coverdell ESA custodian to the new one.
This is the safest option. There is no limit on how many trustee-to-trustee transfers you can make for a designated beneficiary. You can do five transfers in a single month if needed. The IRS does require reporting on Form 1099-Q, but the transfer itself is not taxable.
The 60-Day Rollover
A rollover works differently. The custodian sends the funds to the beneficiary (or the responsible individual), and that person then deposits the money into a new Coverdell ESA within 60 days. Miss that 60-day window, and the IRS treats the entire distribution as taxable income.
There is a hard limit of one rollover per Coverdell ESA per 12-month period. The 12-month clock starts the day after the distribution is received. This rule does not apply to trustee-to-trustee transfers.
| Feature | Trustee-to-Trustee Transfer | 60-Day Rollover |
|---|---|---|
| Money touches your hands | No — goes directly between custodians | Yes — you receive a check or deposit |
| Frequency limit | Unlimited | One per ESA every 12 months |
| Deadline | None | Must complete within 60 days |
| Risk of accidental taxation | Very low | High if you miss the deadline |
| IRS reporting | Form 1099-Q issued | Form 1099-Q issued |
| Best for | Routine sibling transfers | Situations where you need temporary access |
Step-by-Step: How to Transfer a Coverdell ESA to a Sibling
The actual process of transferring a Coverdell ESA to a sibling involves several steps. Each step matters because missing even one can delay the transfer or trigger an unexpected tax bill.
Step 1: Open a Coverdell ESA for the Receiving Sibling. The sibling who will receive the funds needs their own Coverdell ESA. This account must be opened before the transfer can happen. The sibling must be under age 18 to have a new ESA opened with regular contributions, but transfer contributions can be received until age 30.
Step 2: Contact the Current Custodian. Call or visit the financial institution that holds the existing Coverdell ESA. Ask for their transfer request form or distribution request form. Each custodian has its own paperwork, but the process is similar across banks, brokerages, and credit unions.
Step 3: Specify the Transfer Type. Make sure you select trustee-to-trustee transfer on the form. This is critical. If you accidentally check the box for a cash distribution, the custodian will send you the money instead of sending it to the new account. That starts the 60-day rollover clock.
Step 4: Provide the New Account Details. You’ll need the receiving sibling’s Coverdell ESA account number, the name and address of the receiving financial institution, and the receiving institution’s routing number if applicable. Double-check every digit.
Step 5: Track the Forms. The sending custodian will issue Form 1099-Q for the distribution. The receiving custodian will issue Form 5498-ESA to confirm the deposit. Keep both forms for your tax records. A mismatch between these forms can trigger an IRS inquiry.
Three Scenarios That Show How Sibling Transfers Work
Scenario 1: Older Child Graduates, Younger Sibling Starts School
Maria contributed $2,000 per year to a Coverdell ESA for her daughter, Sophia, starting when Sophia was 8. Sophia earned a full scholarship to college and didn’t need the Coverdell funds. Maria’s younger son, Leo, is 14 and starting high school at a private academy.
Maria contacts her custodian and requests a trustee-to-trustee transfer from Sophia’s Coverdell ESA to a new Coverdell ESA in Leo’s name. The entire balance — contributions and earnings — moves tax-free. Leo can now use the funds for his private school tuition, books, and required equipment.
| Maria’s Action | Tax Result |
|---|---|
| Requests trustee-to-trustee transfer to Leo’s ESA | $0 tax, $0 penalty |
| Leo uses funds for private school tuition | Tax-free qualified distribution |
| Leo uses funds for a new laptop required by the school | Tax-free qualified distribution |
| Leo uses funds for a family vacation | Earnings taxed + 10% penalty |
Scenario 2: Child Approaches Age 30 With Leftover Funds
David opened a Coverdell ESA for his son, Jake, who is now 29. Jake has $8,500 left in the account. David’s younger daughter, Emma, is 22 and in graduate school.
David must act fast. Under federal law, the remaining Coverdell ESA funds must be distributed within 30 days after Jake turns 30. If David does nothing, the IRS treats the full $8,500 as a deemed distribution to Jake. The earnings portion becomes taxable, and Jake owes a 10% additional tax on those earnings.
David transfers the $8,500 from Jake’s Coverdell ESA to a new Coverdell ESA for Emma before Jake’s 30th birthday. Emma is under 30, so she qualifies. The transfer is tax-free. Emma can use the funds for her graduate tuition and related expenses.
| David’s Action | Tax Result |
|---|---|
| Transfers to Emma’s ESA before Jake turns 30 | $0 tax, $0 penalty |
| Does nothing — Jake turns 30 | Deemed distribution: earnings taxed + 10% penalty |
| Jake takes a cash withdrawal at age 29 for non-education use | Earnings taxed + 10% penalty |
Scenario 3: Step-Sibling Transfer After Remarriage
Karen remarried after her divorce. She has a daughter, Ava (age 16), with a Coverdell ESA. Karen’s new husband, Tom, has a son, Noah (age 12), from his first marriage.
Noah qualifies as Ava’s stepsister/stepbrother under the qualified family member rules. Karen can transfer funds from Ava’s Coverdell ESA to a new Coverdell ESA for Noah. The relationship between Ava and Noah as step-siblings is enough to meet the IRS definition — no adoption or legal guardianship is required.
| Karen’s Action | Tax Result |
|---|---|
| Transfers from Ava’s ESA to step-sibling Noah’s ESA | $0 tax, $0 penalty |
| Noah uses funds for K–12 tuition | Tax-free qualified distribution |
| Tom tries to transfer Noah’s ESA to his nephew (not Ava’s family member) | The nephew must be Noah’s qualified family member — and a first cousin qualifies |
The Age 30 Cliff: When the IRS Forces Your Hand
The Age 30 rule is the single biggest trap in Coverdell ESA planning. Under IRC Section 530, all funds in a Coverdell ESA must be fully distributed within 30 days after the beneficiary’s 30th birthday. There are no extensions, no grace periods, and no exceptions — unless the beneficiary has special needs.
If funds remain in the account past that 30-day mark, the IRS issues a deemed distribution. The financial institution reports the full balance as distributed on Form 1099-Q, even if no money actually left the account. The earnings portion becomes taxable income to the beneficiary, and a 10% additional tax applies on top of that.
The beneficiary must then file Form 5329 to report and pay the 10% penalty. Many people forget this form exists. The IRS does not send a reminder. If you skip Form 5329, the IRS will eventually catch the discrepancy between the 1099-Q and your tax return.
The Special Needs Exception
Congress built one escape hatch into the Age 30 rule. If the designated beneficiary qualifies as a “special needs” individual, the age 30 restriction is waived completely. Contributions can continue past age 18, and the account does not need to be distributed at age 30.
The IRS has not published a formal definition of “special needs” for Coverdell purposes. Congressional intent, as noted in the legislative history, includes individuals who need extra time to complete their education because of a physical, mental, or emotional condition — including learning disabilities.
Income Limits and Contribution Rules That Affect Transfers
A transfer itself does not count as a contribution. This distinction matters because the $2,000 annual contribution limit applies only to fresh money going into a Coverdell ESA. Funds moved via trustee-to-trustee transfer or 60-day rollover do not reduce the receiving sibling’s $2,000 contribution room for that year.
The income limits, on the other hand, apply to whoever is contributing new money. If a parent’s MAGI exceeds the threshold under Section 530(c), their allowed contribution drops. At $110,000 MAGI for single filers or $220,000 for joint filers, the contribution amount hits zero.
Here’s how the income phase-out works:
| Filing Status | Full Contribution Range | Phase-Out Range | No Contribution Allowed |
|---|---|---|---|
| Single | MAGI below $95,000 | $95,000–$110,000 | Above $110,000 |
| Married Filing Jointly | MAGI below $190,000 | $190,000–$220,000 | Above $220,000 |
A common workaround for high-income families is to have a lower-income family member — such as a grandparent, aunt, or even the child themselves — make the contribution. The income limit applies to the contributor, not the account owner or the beneficiary.
The 6% Excise Tax on Excess Contributions
If total contributions to a child’s Coverdell ESA exceed $2,000 in any year, the excess triggers a 6% excise tax under 26 USC § 4973. This penalty is imposed on the beneficiary, not the contributor. It hits every year the excess stays in the account.
The only way to avoid the 6% tax is to withdraw the excess contribution — along with any earnings on that excess — by May 31 of the year after the contribution was made. No extensions apply. If you miss the May 31 deadline, the excess remains subject to the 6% penalty for each additional year it sits in the account.
Coverdell ESA vs. 529 Plan: When to Roll Over Instead
Sometimes transferring a Coverdell to a sibling is not the best option. Rolling the funds into a 529 qualified tuition program might make more financial sense depending on the family’s situation. Federal law allows Coverdell-to-529 rollovers, but it does not allow 529-to-Coverdell rollovers — it’s a one-way street.
| Feature | Coverdell ESA | 529 Plan |
|---|---|---|
| Annual contribution limit | $2,000 per beneficiary | $300,000+ (varies by state) |
| Income limits for contributors | Yes — MAGI phase-out | No income limits |
| Qualified expenses | K–12 and higher education | K–12 tuition (up to $10K/year) and higher education |
| Investment options | Broad — stocks, bonds, mutual funds, ETFs | Limited to state-selected portfolios |
| Age restriction | Contributions stop at 18; funds must be used by 30 | No age limit |
| State tax deduction | No | Many states offer deductions or credits |
| Rollover to Roth IRA | Not allowed | Allowed (under SECURE 2.0 Act rules) |
A 529 plan is the better choice when the family has high income (above the Coverdell MAGI limits), when the child is close to age 30, or when the family wants to take advantage of state tax deductions for contributions. Some states allow the rollover contribution from a Coverdell to a 529 to qualify for the state deduction.
A Coverdell ESA is the better choice when the family wants more investment flexibility or when the child needs funds for K–12 expenses beyond just tuition — such as tutoring, supplies, or special needs services. The Coverdell’s broader qualified expense list covers items that a 529 plan cannot.
Rolling a Coverdell to a 529: How It Works
The process is similar to a sibling transfer. The responsible individual requests either a trustee-to-trustee transfer or a 60-day rollover from the Coverdell ESA to the 529 plan. The 529 plan provider will need documentation from the Coverdell custodian showing the account’s cost basis (original contributions) and earnings.
The rollover is tax-free as long as the 529 beneficiary is either the same person as the Coverdell beneficiary or a qualified family member. This means you can roll a Coverdell ESA into a 529 for a sibling in one move, bypassing the Coverdell age restrictions entirely.
Tax Consequences of Getting It Wrong
Getting a Coverdell ESA transfer wrong can cost a family thousands in unnecessary taxes and penalties. The IRS does not offer a “do-over” for most Coverdell mistakes. Understanding the specific penalties helps families avoid them.
Non-Qualified Distribution Penalty
If funds leave a Coverdell ESA and are not used for qualified education expenses — and are not properly rolled over or transferred — the earnings portion of the distribution is taxable as ordinary income. On top of that, a 10% additional tax applies under Section 530(d)(4). The original contributions (the cost basis) are not taxed because they were made with after-tax dollars.
For example, if a Coverdell ESA has $10,000 in it — $6,000 in contributions and $4,000 in earnings — and the full $10,000 is distributed for non-qualified purposes, the beneficiary owes income tax on the $4,000 in earnings plus a $400 penalty (10% of $4,000).
Missed 60-Day Rollover Window
If you take a distribution intending to roll it over but fail to deposit it into a new Coverdell ESA or 529 plan within 60 days, the IRS treats it as a non-qualified distribution. The earnings are taxable and the 10% penalty applies. There is no hardship exception for Coverdell rollovers, unlike some IRA rules.
Gift Tax Considerations
Contributions to a Coverdell ESA are treated as gifts to the beneficiary under federal gift tax rules. The $2,000 annual contribution limit is well below the annual gift tax exclusion ($18,000 per recipient in 2025), so gift tax is rarely an issue for Coverdell contributions. Transfers between family members’ Coverdell ESAs are not treated as additional gifts.
Pros and Cons of Transferring a Coverdell ESA to a Sibling
| Pros | Cons |
|---|---|
| Tax-free transfer — no income tax or penalty when done correctly | $2,000 annual contribution limit stays in place for new contributions to the receiving sibling’s account |
| Preserves tax-free growth — earnings continue to grow without being taxed | Age 30 deadline applies to the receiving sibling too, restarting the clock but not eliminating it |
| Broad qualified expenses — the receiving sibling can use funds for K–12 and higher education costs | Income limits still apply if the family wants to add new contributions to the sibling’s account |
| No limit on trustee-to-trustee transfers — you can move funds as many times as needed | Custodian paperwork varies by institution and some charge transfer fees |
| Avoids the deemed distribution at age 30 by moving funds to a younger family member | Limited to qualified family members — friends, neighbors, and unrelated individuals do not qualify |
| Step-siblings qualify — blended families can take full advantage of this rule | Cannot transfer to a 529 and back — once funds move to a 529, they cannot return to a Coverdell |
Mistakes to Avoid When Transferring a Coverdell ESA
Missing the 60-Day Rollover Deadline
The most expensive mistake families make is taking a cash distribution and failing to deposit it into a new Coverdell ESA within 60 days. Once day 61 arrives, the IRS treats the distribution as non-qualified. The earnings become taxable, and the 10% penalty kicks in automatically.
Doing More Than One Rollover in 12 Months
The one-rollover-per-year rule catches families who try to move Coverdell funds multiple times. If you already did a rollover from a specific Coverdell ESA in the past 12 months, the second rollover from that same account is treated as a taxable distribution. Trustee-to-trustee transfers are not subject to this limit — use them instead.
Forgetting the Age 30 Deadline
The beneficiary’s 30th birthday starts a 30-day countdown. After those 30 days, any remaining funds become a deemed distribution. Many families forget because the Coverdell was opened decades earlier. Mark the date on your calendar years in advance and plan the transfer or rollover well before the deadline hits.
Not Checking the Receiving Sibling’s Age
The receiving sibling must be under 30. Transferring funds to a sibling who is already 30 or older violates the age restriction under Section 530 and can result in the distribution being treated as non-qualified.
Ignoring Form 5329
If a Coverdell distribution triggers the 10% additional tax, the beneficiary must file Form 5329 with their tax return. Many people assume the regular Form 1040 handles everything. It does not. Failing to file Form 5329 can lead to an IRS notice, additional interest charges, and potential accuracy penalties.
Exceeding the $2,000 Contribution Limit After a Transfer
A transfer does not count toward the $2,000 annual contribution limit. But if a parent also contributes fresh money to the receiving sibling’s new Coverdell ESA in the same year — and the total of all new contributions from all sources exceeds $2,000 — the 6% excise tax applies to the excess amount.
Do’s and Don’ts for Coverdell ESA Sibling Transfers
| Do | Don’t |
|---|---|
| Use a trustee-to-trustee transfer whenever possible — it’s safer and has no frequency limit | Don’t take a cash distribution unless you are certain you can redeposit within 60 days |
| Open the sibling’s Coverdell ESA first before initiating any transfer | Don’t assume step-siblings are excluded — they qualify under federal law |
| Keep copies of Form 1099-Q and Form 5498-ESA for your tax records | Don’t ignore Form 5329 if a penalty applies — the IRS will not remind you |
| Check the receiving sibling’s age to confirm they are under 30 | Don’t exceed one rollover per ESA in a 12-month period — trustee transfers have no such limit |
| Consider rolling into a 529 if the sibling is close to 30 or the family wants higher contribution limits | Don’t roll 529 funds back into a Coverdell — federal law blocks this move |
| Consult a tax advisor before making large transfers, especially in blended families | Don’t forget about income limits if you plan to make additional contributions to the new account |
| Act before the beneficiary’s 30th birthday to avoid a deemed distribution | Don’t assume the transfer counts as a new contribution — it does not reduce the $2,000 annual room |
How IRS Forms Work in a Coverdell Transfer
Every Coverdell ESA transfer generates IRS paperwork, even when the transfer is completely tax-free. Understanding which forms to expect — and which forms you need to file — prevents surprises at tax time.
Form 1099-Q is issued by the sending financial institution. It reports the distribution amount, the earnings portion, and the basis (original contributions). You will receive this form by January 31 of the year following the transfer. Even though the transfer is not taxable, the form is still required by the IRS.
Form 5498-ESA is issued by the receiving financial institution. It confirms that a rollover or transfer contribution was deposited into the new Coverdell ESA. This form is mailed after the tax-filing deadline, usually by April 30. It serves as proof that the funds landed in a qualified account.
Form 5329 is filed by the beneficiary only if a penalty applies. This includes the 10% additional tax on non-qualified distributions or the 6% excise tax on excess contributions. Attach Form 5329 to the beneficiary’s Form 1040 for the applicable tax year.
| Form | Who Issues It | What It Reports | When You Receive It |
|---|---|---|---|
| Form 1099-Q | Sending custodian | Distribution amount, earnings, and basis | By January 31 of the following year |
| Form 5498-ESA | Receiving custodian | Rollover/transfer contribution received | By April 30 of the following year |
| Form 5329 | Filed by the beneficiary | 10% additional tax or 6% excise tax | Attached to Form 1040 at tax filing |
State-Level Rules That Can Change the Equation
Federal law governs the core rules of Coverdell ESA transfers, but state tax treatment varies. Most states follow the federal treatment and do not tax a properly executed Coverdell transfer. A few states, however, have unique rules that families should know.
Some states offer tax deductions or credits for 529 plan contributions but not for Coverdell ESA contributions. This creates a financial incentive to roll Coverdell funds into a 529 rather than transferring to another Coverdell. In states like Indiana, Utah, and Vermont, the rollover contribution to a 529 may qualify for the state deduction.
States also differ on how they treat the earnings portion of non-qualified Coverdell distributions. While federal law imposes the 10% additional tax, some states add their own penalty on top of that. Families in high-tax states like California or New York could face a combined federal-and-state tax hit that eats up a significant portion of the account’s growth.
There is no state that prohibits a Coverdell ESA sibling transfer. The federal rules under IRC Section 530 preempt any state attempt to block or restrict these transfers. But the tax treatment of a botched transfer varies enough to make professional advice worth the cost in many cases.
When a Coverdell-to-Sibling Transfer Doesn’t Make Sense
Not every family benefits from a sibling transfer. There are situations where keeping the money in the original account — or moving it to a different type of account — is the smarter financial move.
If the original beneficiary still has upcoming education expenses, draining their Coverdell to fund a sibling’s account could leave them short. A better approach might be to split the funds, transferring part of the balance to the sibling and keeping the rest for the original beneficiary’s future expenses.
If the receiving sibling is close to age 30, transferring Coverdell funds just delays the problem. The Age 30 clock starts ticking again for the new beneficiary. A rollover to a 529 plan eliminates the age restriction entirely, since 529 plans have no age limit for beneficiaries.
If the family’s income exceeds the MAGI limits and they want to continue contributing to the account, the Coverdell’s $2,000 cap and income restrictions make the 529 plan a more practical vehicle. The transfer itself is not affected by income limits, but future contributions to the sibling’s Coverdell would be blocked for high-income contributors.
FAQs
Can I transfer a Coverdell ESA to my child’s half-sibling?
Yes. A half-sibling qualifies as a brother or sister under IRC Section 530’s family member rules. The transfer is tax-free if the half-sibling is under age 30.
Does a Coverdell transfer to a sibling count toward the $2,000 annual limit?
No. Transfer and rollover contributions are separate from the $2,000 annual contribution limit. The sibling can still receive up to $2,000 in new contributions that same year.
Can I transfer a Coverdell ESA to a sibling who is over 18?
Yes. Transfer contributions can be received until age 30, even though new contributions stop at age 18. The receiving sibling must be under 30 at the time of transfer.
Is there a penalty for transferring a Coverdell ESA to a sibling?
No. A properly executed trustee-to-trustee transfer or 60-day rollover to a qualified family member is tax-free and penalty-free under federal law.
Can I transfer a Coverdell ESA to my sibling’s child (niece or nephew)?
Yes. A niece or nephew is a qualified family member. The child must be under 30 and have their own Coverdell ESA to receive the transfer.
Can I move Coverdell funds to a sibling’s 529 plan instead?
Yes. Federal law allows rollovers from a Coverdell ESA to a 529 plan for the same beneficiary or a qualified family member, including a sibling.
What happens if I miss the 60-day rollover window?
The distribution becomes taxable. The earnings portion is subject to income tax plus a 10% additional tax. File Form 5329 with your return to report the penalty.
Can a grandparent initiate a Coverdell ESA transfer to a sibling?
No — only the responsible individual (the person named on the account with authority to direct it) can authorize a transfer or rollover from the Coverdell ESA.
Do I need to report a tax-free Coverdell transfer on my tax return?
Yes. You will receive Form 1099-Q from the sending institution. Report it on your return, but the properly completed transfer will show zero taxable income.
Can I transfer a Coverdell ESA to a sibling at a different bank?
Yes. Trustee-to-trustee transfers can move between different financial institutions. Provide the receiving bank’s details to the sending custodian to complete the transfer.
Related reading
- Can Coverdell Be Converted To Roth IRA? (w/Examples) + FAQs
- How To Withdraw Money From A Coverdell Account (w/Examples) + FAQs
- Can You Have A 529 And Coverdell? (w/Examples) + FAQs
- Can Coverdell Be Transferred To 529? (w/Examples) + FAQs
- When Does A Coverdell Expire? (w/Examples) + FAQs
- Can Coverdell Be Used For Student Loans? (w/Examples) + FAQs