Standard Contribution Limit
There’s a $15,000 yearly limit for standard contributions, this includes any gift contributions made to your account. Remember, there is a $10 contribution minimum.
ABLE to Work Contribution Limit
With ABLE to Work, if a beneficiary is earning wages from employment, they can contribute an amount equal to the beneficiary’s current year gross income up to $12,140 (as of 2019), in addition to the yearly contribution limit of $15,000.
If the beneficiary or their employer is contributing to a defined contribution plan (401K), annuity plan (403(b)), or deferred compensation plan (457(b)) this calendar year, the beneficiary is not eligible to make ABLE to Work contributions.
Lifetime Maximum Value
There is a lifetime maximum value of $400,000 for each ABLE for ALL Savings Plan account.
When your account reaches $400,000, you can still accrue earnings, but you won’t be able to make additional contributions until the balance dips below $400,000.
There’s also a limit of $100,000 before funds start to count against your $2,000 asset limit for SSI.