FAQs
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- ALR
- Benefits
- Contributions
- Eligibility
- Fees
- General
- Gifting
- How it Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Info
- How do I withdraw money?
- You can make withdrawals of at least $10 at any time online. A transfer can take between 2-7 business days to complete, depending on how the money is allocated. Withdrawals from the Cash Option take 2-3 business days. It takes 5-7 business days to transfer funds between your ABLE account’s... Read more
- Does the Authorized Legal Representative (ALR) own the account with the beneficiary?
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Nope. No matter who opens the account, the eligible beneficiary owns all of the funds.
- What if I want to close my account?
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Simply give us a call and we’ll help you out. Reach us at 1-844-999-2253, 6am-5pm PT. We’ll be sad to see you go.
- Can I open and/or manage more than one ABLE account?
- A person with a disability can own only one ABLE account. You can serve as an Authorized Legal Representative and manage multiple ABLE accounts (for different beneficiaries) from the same account login. Each ABLE account can be connected to one or more bank accounts. Since we also manage the Oregon... Read more
- 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
- 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.
- Do I have to file separate taxes for each ABLE account?
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Each beneficiary account is treated separately. Every account is subject to a separate $18,000 annual contribution limit (or more if the beneficiary has earned wages for that year), and each ABLE account will receive separate tax documents.
- 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.
- How do I add another ABLE account?
- You can own only one ABLE account at a time. However, you can manage multiple ABLE accounts. (For example: a parent who needs an ABLE account for himself and another one for his daughter.) You can add a new account in two ways. Logged out, from the sign-up page: Go to the Oregon ABLE home page to... Read more
- How do I manage different bank accounts with multiple beneficiaries?
- You have plenty of options when it comes to managing banks and/or beneficiaries. If you’re an Authorized Legal Representative (ALR) of more than one account, you can use the same banking information on multiple ABLE accounts as long as you own or are the ALR on those ABLE accounts. Otherwise, each... Read more
