How do I make withdrawals from my account? How long do they take?

It’s easy to make withdrawals from your Oregon ABLE Savings Plan account online. You can withdraw as little as $5 each time and transfer that money into any bank account linked to your Oregon ABLE account. If you have more than one investment, you can decide which investment you’d like to pull money from. You can also make this request using our Withdrawal Form (PDF).

Note, withdrawals from the Cash Option generally take 2-3 business days, while transfers from ABLE to your bank account and check requests take from 5-7 business days. If you request a check, a $2.50 fee will be deducted from the check amount.

Any money withdrawn from your account should be used for qualified expenses. Earnings on non-qualified withdrawals are subject to federal and state income taxes and may be subject to a 10% federal penalty tax.

If you request a withdrawal of your full account balance, your account will remain open and active, but the balance will be $0 until you make a contribution. To close the account for good, please contact us.

ABLE Visa® Prepaid Card Withdrawals

For existing ABLE Visa® Prepaid Card customers, funding scheduled before 4 pm PT on a business day will be available on the card the next business day. For new Prepaid Card customers, funding times may vary while the account is being set up. It may take up to 5 business days for the full amount of requested funds to be available on the card.