FAQs
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- Benefits
- Contributions
- Eligibility
- General
- Gifting
- How it Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Benefits
- Can I enroll and manage an ABLE account with a paper form?
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The easiest and fastest way to enroll for and manage an ABLE account is online. If you want to use paper forms for enrollment or managing your account, you can find the forms here.
- Can I connect more than one bank account to an ABLE account?
- Yes, you can connect more than one bank account as well as multiple types of bank accounts. Each account and type will need to be connected individually, but you can have both savings and checking accounts linked to your account at one time. The Account Owner/Custodian or Beneficiary must own the... Read more
- How do I add multiple bank accounts?
- Once you're logged into your ABLE account, find your “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 beneficiary of the ABLE account or the Authorized Legal Representative's name. Keep in mind that... Read more
- What type of bank accounts can I add?
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You can connect a checking or savings account.
- How do I manage different bank accounts with multiple beneficiaries?
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If you are managing ABLE accounts for more than one beneficiary, you can use the same banking information on multiple accounts. The bank account has to be added to each plan account individually.
- Can I open and/or manage more than one ABLE account?
- Yes, you can have an ABLE account for yourself and/or open and manage multiple ABLE accounts for beneficiaries as their Authorized Legal Representative. Remember that each ABLE account can be connected to one or more bank accounts. Remember that each beneficiary can have only one ABLE account at a... Read more
- How do I add another ABLE account?
- You can do this two ways: Logged out, from the sign-up page Sign up for a new ABLE account. During the first step of registration there will be a link to sign in. Log in and follow the steps to create an ABLE account for either yourself or your beneficiary. Logged in, from the dashboard of your... Read more
- Do I use the same login information if I have multiple ABLE accounts?
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Yes, you have only one username (email) and password to log in to all the ABLE accounts you manage for either yourself or your beneficiaries.
- 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.
- Do I get additional tax benefits if I contribute to multiple ABLE accounts?
- No, tax benefits for ABLE accounts and 529 plan accounts are aggregated for tax purposes by contributor, not by ABLE account or 529 plan. Anyone who contributes to one or more ABLE accounts or 529 plans with beneficiaries under the age of 21 can receive tax benefits up to the maximum allowable... Read more
