FAQs
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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
- 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
- Are there age restrictions to open an ABLE account?
- To open an ABLE account, you must be an adult with a qualifying disability or blindness that developed before the age of 26. Your current age doesn’t impact your eligibility to open an account. Please note, with the passage of new federal legislation, the age of onset for disability will be raised... Read more
- What role does Oregon State Treasury play in the Oregon ABLE Savings Plan?
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The Oregon ABLE Savings Plan is administered by the Oregon Treasury Savings Network which is a division of the Oregon State Treasury. The Oregon 529 Savings Board provides oversight for Oregon ABLE and is chaired by the Oregon State Treasurer with four appointed members of the public.
- Are investments in my Oregon ABLE account guaranteed not to lose money or are they insured?
- No. As with any investment, there is some risk involved. While Oregon ABLE Savings Plan accounts provide investment options to match a variety of risk tolerances, there is no guarantee that your portfolio will generate earnings. Before opening an account, you should carefully read and understand... Read more
- How do I connect more than one bank account to an Oregon ABLE account?
- Adding an additional bank account is simple. Once you’re logged in to your Oregon ABLE account dashboard, find the “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 name of the beneficiary or the... Read more
- How do I make contributions to my account?
- It’s easy to contribute to your Oregon ABLE Savings Plan account. You can make online contributions at any time and set up recurring monthly transfers for as little as $5 each time when you connect your bank account. You can also set up payroll direct deposits through your employer. If you prefer... Read more
- How do I manage existing automatic contributions?
- If you need to edit or remove your account’s automatic contributions, simply sign into your account, click the “Transfers” link at the top of the page, and then select “Manage.” You can delete and re-enter a new desired contribution amount and edit the frequency or day of the month the contribution... Read more
