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
- Does the card fee come out of the money on the card or from what's in the ABLE account?
- Fees for your ABLE Visa® Prepaid Card are deducted from the card’s available balance and not your ABLE account. If the card balance is insufficient to cover the monthly fee, the True Link system will charge the fee at the regular time and True Link will recoup the fee when the next deposit is made... Read more
- Will a credit check be performed when I apply for the card?
- No, a credit check is not required to open an ABLE Visa® Card. However, the federal government does require True Link to verify the identity of each cardholder who opens a Card Account. When a Card account is opened, True Link will ask for the following information to attempt to verify the... Read more
- How do I set up SSA direct deposits?
- 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 to “Transfers > Direct Deposit.” Enter your information and retrieve your direct deposit details that can be provided to the SSA —... Read more
- What if I already receive direct deposit payments from the SSA in a different account?
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To switch the account you receive your direct deposits in, you will need to update your settings with the SSA. You can update your deposit settings in your Social Security account here.
- Who do I contact for help with SSA direct deposits?
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If you need help updating your ABLE account settings or finding your account number, contact us here.
For help updating your direct deposit information with the SSA, you can reach out to their team here.
- Can employment earnings be deposited into my account through payroll direct deposit?
- Yes! Complete the setup process in three simple steps: Log in to your ABLE account and click on “Direct Deposit” on the Total Balance tile Enter your information and retrieve your direct deposit details — including a unique routing and account numbers Provide your account details to your... Read more
- What is IRS Form 1099-QA?
- If you make a withdrawal from your account, you will receive the IRS Form 1099-QA, which is a tax form that details all of the withdrawals you made throughout the tax year from your account. This statement reports withdrawals from the ABLE account in the prior calendar year. You only receive a... Read more
- When is IRS Form 1099-QA available?
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The plan administrator must send the 1099-QA by January 31, so you should receive the form no later than early February following the close of the tax year. You will receive it via mail or electronic delivery based on communications preferences.
- What is IRS Form 5498-QA?
- If you make a contribution to your account, you will receive IRS Form 5498-QA, which is a tax form that details all of the contributions you made throughout the tax year to your account. This form reports ABLE account contributions, rollovers and direct program-to-program transfers in the prior... Read more
- When is IRS Form 5498-QA available?
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The plan administrator must send the 5498-QA by March 15, so you should receive the form no later than late March following the close of the tax year. You will receive it via mail or electronic delivery based on communications preferences.
