Set up an appointment with a personal banker or financial advisor to guide your research about the 529 College Savings Plan. Select the option to cash out the ESA account. Inquire with that institution about the proper forms required to make the transfer of funds from a Coverdell ESA.
Contact the financial institution that holds the Coverdell ESA first, to confirm the value and second, to cash out the account. Inform them that the funds are to be deposited into a 529 College Savings Plan.
Complete the necessary forms to cash out the ESA account. Receive the cashed out Coverdell ESA check.
Gather the most recent Coverdell ESA account statement and the cost basis and earnings for the account. Send along with the check and the required rollover forms to the 529 College Savings Plan financial institution.
Confirm the completion of a successful transaction.