Section 9004 - Changes of Designated Beneficiary, Program-to-Program Transfers, and Rollovers(a) Changes of Designated Beneficiary, Program-to-Program Transfers, and Rollovers. Account Owners or Authorized Legal Representatives may (1) change the Designated Beneficiary of the Account during the current Designated Beneficiary's lifetime, (2) direct a Program-to-Program Transfer, and (3) direct a Rollover as described in IRC section 529A and the Tax Regulations. Changes of Designated Beneficiary to non-Siblings, Program-to-Program Transfers to non-Siblings and Rollovers to non-Siblings are not permitted under the Plan. Individuals may also roll over funds from an existing IRC section 529 account in accordance with IRC section 529 and the Tax Regulations.(b) Change of Designated Beneficiary Effective Upon Death. In addition to a lifetime change of Designated Beneficiary as specified in Section 9004(a), a change of Designated Beneficiary may also take effect upon the death of the current Designated Beneficiary as described in IRC section 529A and the Tax Regulations. In this case, the successor Designated Beneficiary must still be named during the lifetime of the current Designated Beneficiary.Cal. Code Regs. Tit. 10, § 9004
Note: Authority cited: Section 4882, Welfare and Institutions Code. Reference: Section 4877, Welfare and Institutions Code; Section 529A, Internal Revenue Code; Pub. L. 113-295, div. B, title I, §103; and Sections 1.529A-0 through 1.529A-8 also issued under 26 United States Code 529A(g), 26 Code of Federal Regulations Section Pt. 1, App. 1.
Note: Authority cited: Section 4882, Welfare and Institutions Code. Reference: Section 4877, Welfare and Institutions Code; and Section 529 A, Internal Revenue Code.
1. New section filed 2-21-2017 as a deemed emergency pursuant to Welfare and Institutions Code section 4882(b); operative 2-21-2017 (Register 2017, No. 8). A Certificate of Compliance must be transmitted to OAL by 8-21-2017 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 8-21-2017 as a deemed emergency pursuant to Welfare and Institutions Code section 4882(b); operative 8-21-2017 (Register 2017, No. 34). A Certificate of Compliance must be transmitted to OAL by 11-20-2017 or emergency language will be repealed by operation of law on the following day.
3. Certificate of Compliance as to 8-21-2017 order transmitted to OAL 8-24-2017 and filed 10-5-2017 (Register 2017, No. 40).
4. Amendment of section heading, repealer and new section and amendment of NOTE filed 11-26-2024; operative 1/1/2025 (Register 2024, No. 48).