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
- Can I make regular repeat contributions?
- Anyone who contributes to someone’s Oregon ABLE gifting page can set up recurring contributions—for birthdays, holidays, or just because—and save their information in a convenient gifting profile to streamline future gifting. How to set up recurring gifts: Create a gifting profile while... Read more
- How can I make changes to my gifting page?
- You can easily find your unique URL to share, customize your goal, update your allocation choices, and view gifting activity online at any time. Log in to your Oregon ABLE account Select “Manage” in the bottom left corner of the gifting tile on your dashboard If you would like to turn off your... Read more
- What is a non-qualified withdrawal?
- A non-qualified withdrawal is any withdrawal that is not considered a qualified expense, a taxable withdrawal, or a rollover. Apart from these exceptions, the earnings portion (not the amount you contributed) of a non-qualified withdrawal typically is subject to federal income tax and an additional... Read more
- How do I set up Weather Boosters?
- The first of our new Savings Boosters to launch is the Weather Savings Booster. When you opt in, you can make an automatic contribution to your Oregon ABLE Savings Plan every time there's greater than a 50% chance of rain, hail, sleet, or snow predicted in your location according to... Read more
- How do I set up direct deposits?
- You can contribute to your Oregon ABLE account using fast, secure direct deposits from either the Social Security Administration or your paycheck. Complete the setup process in three simple steps: Log in to your Oregon ABLE account and click on “Payroll direct deposit” on the Total Balance... Read more
- Are there tax penalties on withdrawals for non-qualified expenses?
- Yes. If you make a withdrawal from your account for a non-qualified expense, the earnings tied to that distribution will be considered taxable income. A withdrawal used for a non-qualified expense could affect your eligibility for benefits such as Supplemental Security Income (SSI) or... Read more
- How do I claim my tax credit?
- Oregon residents that have contributed to an Oregon ABLE account are eligible to claim the state income tax credit, even if their income is below the IRS minimum to file taxes. You can claim the credit while filing your taxes using online tax software, or via a paper form. There are many free... Read more
- How do I file my taxes for free?
- All Oregon residents preparing their own tax returns can file electronically at no cost using one of Oregon’s free file options. For the most up-to-date information on free software products and preparation assistance for filing your taxes, please visit the Oregon Department of Revenue website.... Read more
- Is there a benefit to filing a tax return, even if I have low, or no, income?
- Yes. Credits may earn you a tax refund! The Oregon state income tax credit is refundable, so even if your income is below the IRS minimum requirement to file taxes, you can still claim the state tax credit, but you must file your taxes to receive the refund. This also applies to other tax credits.... Read more
- How do I set up automatic contributions?
- It’s easy to set up automatic monthly contributions from your bank account (or multiple accounts) into your Oregon ABLE account. You can securely link your account in the online portal and make adjustments to your contributions as needed. Plus, you can contribute as little as $5 each time. Follow... Read more
