You can write a letter within 60 days of refund explaining why there was a refund and they will add to the 529-Plan. Reason for refund could be reduction in fees, cancellation of class(es), excess amount paid etc.
(thanks to @Anand Kumar Sankaran for the info)
Under the new SECURE 2.0 Act passed recently, your excess contributions to 529-Plan can be transferred to Roth IRA for your beneficiaries of 529-Plan. Below is a summary of the rules effective 2024:
• The money must be moved directly from 529 plan to Roth IRA
• The Roth IRA receiving the funds must be in the name of the beneficiary of the 529 plan
• 529 contributions and earnings go into Roth IRA in like- kind
• Beneficiary must have “compensation” - children's earning years
• The 529 plan must have been maintained for 15 years or longer
529-Plan, saving for college, taxes
