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
- How often can I make changes to my investment allocations?
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You can only sell off a portfolio to buy a new option twice per calendar year. However, you can start contributing to a new, additional portfolio, as many times as you'd like.
- Are there any restrictions on making a withdrawal?
- Making a withdrawal is easy, however in some cases there are restrictions on how soon you can access the funds in your Oregon ABLE account. Standard contributions made by check, EFT or AIP will be accessible for withdrawal approximately five business days after the deposit. Contributions from third... Read more
- Are contributions made pre-tax or after-tax?
- The money that you contribute to your Oregon ABLE account is made with after-tax dollars, and any of your account earnings can be withdrawn and used to pay for qualified expenses tax-free. Any money added to the account could qualify for a state income tax credit, which means you’ll have even more... Read more
- Are there any rollover fees?
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Yes, there is a $50 rollover fee for transferring funds out of the Oregon ABLE Savings Plan and into a different savings plan.
- Can I claim the state tax credit for contributions to both an Oregon ABLE account and an Oregon College Savings Plan account?
- Yes. Oregon residents that have contributed to both an Oregon ABLE Savings Plan account and an Oregon College Savings Plan account can claim the state tax credit for each plan independently. Therefore, a person is eligible for the state income tax credit for their Oregon College Savings Plan... Read more
