Mississippi Administrative Code
Title 38 - Treasurer
Part 3 - Mississippi Prepaid Affordable College Tuition Program (Horizon Contracts)
Chapter 14 - Rollovers
Rule 38-3-14.1 - General

Universal Citation: MS Code of Rules 38-3-14.1

Current through September 24, 2024

Qualified Rollover Distributions are not subject to taxation or penalty. Rollover Distributions include both:

A. Transfers between a QTP operated by one state and a QTP operated by another state; or,

B. Transfers between separate QTP's operated by the same state.

These changes can be made as a non-taxable event without penalty or additional tax if there is a change of Beneficiary and the new Beneficiary is a "member of the family" of the previous Beneficiary. Account Owners may also rollover from one QTP to another for the same Beneficiary once every twelve (12) months without incurring state or federal income tax, any penalty or the additional tax, so long as the transfer occurs within sixty (60) days of the original withdrawal.

Miss. Code Ann. § 37-155-9 (Rev. 2003).

Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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