FAQs
Answers at your fingertips
You can scroll through the FAQs, search, or click a category button to filter them.
- 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 can I request gift contributions to my account?
- Requesting gift contributions from family and friends is a great way to help you reach your savings goals and it couldn’t be easier. Just sign into your account to find your gifting page information and share your unique gifting URL. You’ll be able to customize your page and select where you would... Read more
- How do I open an Oregon ABLE account?
- The easiest way to create an Oregon ABLE Savings Plan account is to do so through our secure online portal. You’ll need about 15 minutes and $25 to get started. You (or your Authorized Legal Representative) will need to provide some basic information, including your full name, contact information,... Read more
- What is an Authorized Legal Representative?
- An Authorized Legal Representative (ALR) is legally authorized under state and federal law to make decisions for the ABLE beneficiary. An ALR is whoever has been selected by the eligible beneficiary with legal capacity OR has Power of Attorney, is a conservator or legal guardian, spouse, parent,... Read more
- What information is needed to sign up for an Oregon ABLE account?
- To open an Oregon ABLE Savings Plan account, you'll need to provide some basic information as the account holder, including: Full name Contact information Date of birth Social Security number or tax ID To finish setting up your account, you will be asked to: Connect a bank account Choose... Read more
- What happens if I withdraw money for a non-eligible expense?
- You do not need to have your expenses approved in advance. Eligible expenses include anything that improves or maintains the health, independence, or quality of life of the person with a disability. The federal government acknowledges that each of us has different needs and an idea of what a good... Read more
- If I move from Oregon, can I keep my Oregon ABLE account?
- Yes. You can keep your money invested in your account and you can keep contributing to it, too. But, since you will no longer be a state resident, you cannot benefit from the Oregon state income tax credit unless you continue to pay Oregon state income taxes. You also have the option to roll over... Read more
- Is there a minimum amount to open an account?
- There is a $25 minimum deposit to open an Oregon ABLE account. After that, you can add as little as $5 at a time. You can save money in a cash option, invest, or both. The choice is up to you. If you decide to make an investment, at least 10% of your total funds need to be invested in one of the... Read more
- Who can open an Oregon ABLE account?
- Any adult with a qualifying disability that developed before the age of 26 and resides in the state of Oregon can open and manage an Oregon ABLE account. Oregon ABLE accounts were designed to be managed by the person with a disability. Please note, with the passage of new federal legislation, the... Read more
- What happens if the beneficiary is no longer eligible for an account?
- We recognize that sometimes conditions are considered to be a disability by Social Security, and sometimes they are not. When you no longer qualify for an ABLE account, you should log in to your account dashboard and update your eligibility status from the settings menu. Note: If the beneficiary... Read more
- Is there an Oregon state income tax credit?
- Yes. All Oregon residents are eligible to receive a refundable state income tax credit up to $360 for joint filers and up to $180 for single filers on contributions made to an Oregon ABLE Savings Plan account. The tax credit is periodically adjusted for inflation, so please check back on our... Read more
