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Frequently Asked Questions

What is the minimum contribution amount?

You can open an account with just $25. Each additional contribution can be as little as $25.

Do I have to prove eligibility?

No. However, you should have a record of the doctor's signed diagnosis, a benefits verification letter from the Social Security Administration or other relevant documentation for account verification, as needed.

Do I have to prove that withdrawals are for qualified disability expenses?

Not at the time of the withdrawal. Annually, IAble will report the total amount of your withdrawals to the IRS, and will report account balances monthly to the Social Security Administration. In the event that either entity wants to verify the expenses, it’s recommended that you keep detailed records.

Can I have more than one ABLE account?

No. You're limited to one ABLE account, except in the case of a rollover from another qualified ABLE program. This extends beyond IAble to include accounts in other ABLE programs.

Do I have to live in Iowa to open an IAble account?

No. You may still open an IAble account even if you are not an Iowa resident.

How much can I contribute to my account?

The Federal Annual Contribution limit is $15,000. This means no more than $15,000 can be contributed in a year. However, if you are working and earning income, you may be eligible to contribute more.

I am working and earning income - can I contribute more than the $15,000 limit?

Yes - ABLE account owners who earn income may exceed the annual $15,000 contribution limit. The additional annual contribution amount allowed is equal to the federal poverty level for a one-person household (in your state of residence) or the account owner's gross wages, whichever is less.

Can friends and family make contributions into my account?

Absolutely. Anyone can contribute directly to your account. No matter who contributes, you, the account owner or authorized individual, retain control over the account.

What is a Systematic Exchange?

This automatically moves funds from one investment option to another.

How can friends and family members use Ugift® to contribute to my account?

Ugift® is a feature of your ABLE account that allows friends and family to contribute to your savings in lieu of traditional gifts. It's simple to use - just log in to your account to find your code and share it with friends and family, who can use it at to contribute directly into your account. Learn more by reading our Ugift ABLE FAQ. 

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