FAQs
Answers at your fingertips
You can scroll through the FAQs or click on a category below to scroll to that section of the page.
- Benefits
- Contributions
- Eligibility
- General
- Gifting
- How it Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Benefits
- What if I close my account?
- We'll be sad to see you go, but simply give us a call and we can help you close the account. Reach us Monday through Friday, at 1-844-600-2253, 9am-5pm PT. If an ABLE account has a $0 balance for 12 months or more it may be closed. Once an account is closed, a new account can be created by... Read more
- Can someone else access my account?
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To keep the account safe, don’t share your password or let someone else have access to your account, unless they are the Authorized Legal Representative. If you want to add, change, or remove the Authorized Legal Representative for the account, we have forms to help you with the process:
Add Authorized Legal Representative Form
- Are contributions considered to be an asset?
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The money in the account generally isn’t considered to be an asset for state and federal benefit purposes. However, for Supplemental Security Income (SSI) benefits only, you can only have up to $100,000 in the account before the funds start to count against the $2,000 asset limit.
- How do contributions and withdrawals work?
- Each time you make a contribution or a withdrawal, the money will be allocated to help you reach your original target allocation. Let’s say your target allocation is 70% invested and 30% in cash. If you contribute $100 to start off the account, $70 will be invested. Over time, that investment could... Read more
- Do I have to file separate taxes for each ABLE account?
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If you’re an Authorized Legal Representative of more than one beneficiary, keep in mind that each beneficiary’s ABLE account is treated separately and will receive separate tax documents. Please consult your tax advisor for information about whether you need to file taxes for an ABLE account.
- If I manage multiple ABLE accounts, can I transfer funds from one ABLE account to another?
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No. You can’t transfer funds from one ABLE account to another ABLE account.
- Can I use the same login information if I have multiple ABLE accounts?
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Yes. If you’re an Authorized Legal Representative of more than one beneficiary (or yourself and a beneficiary), you will have one username (email) and password to log in to all the ABLE accounts you manage.
- How do I add another ABLE account?
- If you’re an Authorized Legal Representative of more than one beneficiary, you can open an account for a new beneficiary from your account in a few steps. Once you’re signed into your ABLE account, look for the “Add account” link in the upper right corner of the screen, or in the menu on mobile.... Read more
- Can I open and/or manage more than one ABLE account?
- Each beneficiary can have only one ABLE account open at a time. However, if you are an Authorized Legal Representative of one or more beneficiaries, you can manage multiple accounts. If you’re an Authorized Legal Representative of more than one beneficiary, you can open an account for a new... Read more
- Can I make direct deposits into an ABLE account?
- Users can contribute to their accounts using fast, secure direct deposits from either the Social Security Administration or their paycheck. Complete the setup process in three simple steps: Log in to your ABLE account and click on “Direct Deposit” on the Total Balance tile. Or, once logged in, go... Read more