FAQs
Answers at your fingertips
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- About ABLE
- Account Management
- Additional Tax Benefits and Penalties
- ALR
- Banking and Investments
- Contributions and Withdrawals
- Eligibility
- Getting Started with ABLE
- Gifting
- Prepaid Card
- Recurring Contributions
- Rollover
- Successors and Estates
- Tax Credit
- How often can I make changes to my investment allocations?
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You can only sell off a portfolio to buy a new option twice per calendar year. However, you can start contributing to a new, additional portfolio, as many times as you'd like.
- Are there any restrictions on making a withdrawal?
- Making a withdrawal is easy, however in some cases there are restrictions on how soon you can access the funds in your ABLE for ALL account. Standard contributions made by check, EFT or AIP will be accessible for withdrawal approximately five business days after the deposit. Contributions from... Read more
- Are there any rollover fees?
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Yes, there is a $50 rollover fee for transferring funds out of the ABLE for ALL Savings Plan and into a different savings plan.
- How do I connect more than one bank account to an ABLE for ALL account?
- Adding an additional bank account is simple. Once you’re logged in to your ABLE for ALL account dashboard, find the “Accounts” section in your profile and click on “Add a new bank account.” Follow the steps to connect a new bank account associated with either the name of the beneficiary or the... Read more
- Can I open a new ABLE for ALL account if my previous account was closed?
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Yes, simply log in to your closed account using your previously established email and password, then find the “Create new account” link to get started.
- Is there an extra fee for the ABLE Prepaid Card?
- Yes. We know our ABLE savers use their accounts differently from one another. Some are using their accounts to pay for their everyday living expenses. Others are saving up for larger purchases, like a down payment on a home, that will take years of saving to achieve. The ABLE Visa® Prepaid Card fee... Read more
- Do I need a Social Security Number to open an ABLE account?
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Yes. You need to have a Social Security Number (SSN) or an Individual Tax ID Number (ITIN) to open an ABLE account. Learn more about the process of getting a or an , on these official government websites.
- Do my ABLE savings affect eligibility for federal financial aid?
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No. Money saved in an ABLE account does not count as an asset on your Free Application for Federal Student Aid (FAFSA). Plus, saving in an ABLE account may be an effective strategy to help you pay for future education expenses.
- Can organizations manage an ABLE account?
- Yes. ABLE accounts make it possible for organizations (like service providers, professional guardians, or representative payees) to act as an Authorized Legal Representative (ALR) and manage multiple ABLE for ALL accounts. It is up to the person with a disability to decide if they want an... Read more
- How often can I load the ABLE Prepaid Card?
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There is no limit on the number of times you can reload your ABLE Visa® Prepaid Card; however, withdrawals from an ABLE for ALL account to any Prepaid Cards may not exceed $5,000 per day and $20,000 per month.
