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*Issue Number:*    N-2024-23

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Notice 2024-23 [ [link removed] ] provides relief from the 12-month limitation for taxpayers making rollovers to certain 529 plans. The Maryland Prepaid College Trust, which is a qualified tuition plan under section 529 has experienced numerous system issues in recent years. Many taxpayers moved their money out of MPCT because of the issues. In July, MPCT determined it owed taxpayers additional money, and section 529 only allows one tax-free rollover per 12-month period (generally).

Notice 2024-23 will be in IRB: 2024-7, dated Monday 02/12/2024.

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