ABLEAmerica®
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Open
Open an ABLEAmerica account
Application
Use this application to open an ABLEAmerica account.
Complete the ABLEAmerica Account Application.ABLEAmerica brochure
Use this brochure to show clients how ABLEAmerica accounts can help individuals maintain their independence and save for the future.
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For guidelines on eligibility, contribution limits, fee information and more, visit Opening ABLEAmerica accounts.
Transfers and rollovers
Transfer or roll over funds from another ABLE or 529 savings plan
Use this form, with an application, to request a transfer or rollover into an ABLEAmerica account. Contact the resigning institution for their requirements to transfer the assets to Capital Group.
Complete the ABLEAmerica Rollover/Transfer Request.
Common questions
For 2024, the maximum contribution limit is $18,000 per account owner. Account owners who earn income can contribute more than the annual limit. Contributions above the annual maximum are limited to those made from the account owner’s bank account. They can make an additional contribution equal to the lesser of:
- The account owner’s compensation for the taxable year
- The Federal Poverty Level for a one-person household (the level varies by location)
Contributions can be made until the total value of the account reaches $550,000. If the total value of the account falls below $550,000 for any reason, additional contributions can be made.
Note: For individuals with disabilities who are receiving Supplemental Security Income (SSI), the ABLE Act establishes some limitations:
- The act exempts the first $100,000 in ABLE accounts from the SSI individual resource limit of $2,000. When the account exceeds $100,000, the Social Security Administration (SSA) suspends the account owner’s SSI cash benefit. The cash benefit remains suspended until the account value falls below $100,000.
- The SSA considers distributions for housing expenses that weren’t spent in the same calendar month an asset of the disabled individual. In some instances, the SSA may reduce or suspend the disabled individual’s SSI benefits.
An ABLEAmerica account can be linked with either of the following:
- Other accounts owned by the account owner and a member of their immediate family (spouse — or equivalent, if recognized under local law, children under the age of 21 and disabled adult dependents covered by ABLE accounts)
- Accounts owned by the account owner’s parents and minor siblings under the age of 21
Refer to Share classes and breakpoints for additional information on reducing the sales charge. Details on aggregating accounts can be found in the fund prospectuses. -
Update
Update client’s personal information
Update client’s name
If an account has an authorized representative, they must submit a letter of instruction with either a copy of the name change document or a signature validation stamp.
If an account does not have an authorized representative, the account owner can submit this form with supporting documentation. See the form for requirements.
Complete the Name Change Request.
Update client’s contact information
Requests can be made by phone or in writing to update the client’s address, phone number or email address.
If your client has experienced a major life event, visit Life events for checklists to assist with account updates they may need to consider.
Add/update client bank accounts
Link a bank account to buy or sell shares
The requirements vary depending on how the ABLEAmerica and bank accounts are registered.
Account registration changes
Update the account registration
Contact us to discuss the requirements for adding, changing or removing an account owner, successor owner or authorized representative.
Common questions
Yes, contact us for requirements.
Duplicate statements or tax forms can be requested by contacting us.
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Transact
Contributions
Make a one-time contribution via Automated Clearing House
If the bank information is already on file, requests can be made by phone. If the bank information is not on file, contact us for requirements.
Contact us.Make a one-time contribution via check
Checks should be made payable to ABLEAmerica and should include the account number and investment instructions. Mail the check to the service center near you.
Find a service center.
Set up automatic investments
If the bank information is already on file, requests can be made by phone. If the bank information is not on file, contact us for requirements.
For additional details about contribution minimums and maximums, deadlines and more, visit ABLEAmerica contributions.
Transfers and rollovers
Transfer or roll over funds from another ABLE or 529 savings plan
Use this form to request a transfer or rollover into an ABLEAmerica account. Contact the resigning institution for their requirements to transfer the assets to Capital Group.
Complete the ABLEAmerica Rollover/Transfer Request.
Transfer or roll funds out of a Capital Group account
The receiving custodian/trustee’s transfer or rollover request can be submitted if it is signed by both the account owner or authorized representative and the accepting financial institution. A signature guarantee may be required.
Alternatively, use this form. A signature guarantee is required.
Complete the ABLEAmerica Distribution Request.
Distributions
Take a one-time distribution
One-time distributions can be requested by phone unless a signature guarantee is required. If a signature guarantee is required, complete the ABLEAmerica Distribution Request.
Set up automatic distributions
If the bank information is already on file or the distributions are being sent by check, requests can be made by phone. If the bank information is not on file and the distributions will not be sent by check, contact us for requirements.
For guidelines on distribution options, how distributions affect your client’s tax reporting and more, visit ABLEAmerica distributions.
Exchanges and rebalances
Request a one-time or automatic exchange or rebalance
One-time or automatic exchanges or rebalances can be requested by phone. These are considered strategy changes, and ABLEAmerica accounts are limited to 2 strategy changes per calendar year.
For additional information about strategy changes, tax implications and exceptions, visit ABLEAmerica strategy changes.
Common questions
For 2024, the maximum contribution limit is $18,000 per account owner. Account owners who earn income can contribute more than the annual limit. Contributions above the annual maximum are limited to those made from the account owner’s bank account. They can make an additional contribution equal to the lesser of:
- The account owner’s compensation for the taxable year
- The Federal Poverty Level for a one-person household (the level varies by location)
Contributions can be made until the total value of the account reaches $550,000. If the total value of the account falls below $550,000 for any reason, additional contributions can be made.
Note: For individuals with disabilities who are receiving Supplemental Security Income (SSI), the ABLE Act establishes some limitations:
- The act exempts the first $100,000 in ABLE accounts from the SSI individual resource limit of $2,000. When the account exceeds $100,000, the Social Security Administration (SSA) suspends the account owner’s SSI cash benefit. The cash benefit remains suspended until the account value falls below $100,000.
- The SSA considers distributions for housing expenses that weren’t spent in the same calendar month an asset of the disabled individual. In some instances, the SSA may reduce or suspend the disabled individual’s SSI benefits.
Yes, the funds in the account may be exchanged or rebalanced only twice per calendar year. These transactions are referred to as strategy changes. Visit ABLEAmerica strategy changes for additional information.
No, rollovers between ABLEAmerica accounts for the same account owner are limited to one every 12-month period.
Note: Since account owners are allowed to maintain only one ABLE account nationwide, the owner must close their previous ABLE account after they have rolled over its assets to the new ABLE account.
Qualified expenses are expenses incurred by an account owner that relate to maintaining or improving their health, independence or quality of life.
Generally, these expenses include, but are not limited to:
- Education
- Housing
- Transportation
- Employment training and support
- Assistive technology and personal support services
- Health
- Prevention and wellness
- Financial management and administrative services
- Legal fees
- Expenses for oversight and monitoring
- Funeral and burial expenses
- Other expenses that the Internal Revenue Service (IRS) identifies
The ABLEAmerica authorized representative or account owner is responsible for confirming an expense is considered qualified. For more information about expenses the IRS considers to be qualified, review IRS Publication 907, Tax Highlights for Persons With Disabilities.
If distributions are used for purposes other than qualified disability expenses, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax.
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Contact us
Have questions or need additional support?
Contact us 8:00 a.m. to 7:00 p.m. ET, Monday through Friday.
For financial professionals only. Not for use with the public.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
Use of this website is intended for U.S. residents only.
The guidelines and procedures provided in the Account Resource Center may not apply to networked accounts or accounts not directly held by American Funds. The guidelines and procedures provided also apply only to those retirement accounts or Coverdell ESAs invested in American Funds with Capital Bank and Trust Company (CB&T) as custodian. The guidelines and procedures provided in the Account Resource Center do not apply to plans held in our retirement plan solutions — PlanPremier, PlanPremier-TPA or RecordkeeperDirect. Information on the Account Resource Center may change periodically, and previously printed information may not be current. Please refer to capitalgroup.com for the most current information available.
Financial professionals should always contact their back office to determine if there are any restrictions on the use of American Funds products, tools, services, websites and literature.
ABLEAmerica is distributed by Capital Client Group, Inc., and sold through unaffiliated intermediaries.
Depending on your state of residence, there may be an in-state plan that provides state tax and other state benefits not available through ABLEAmerica. Before investing in any state’s 529 plan, investors should consult a tax advisor.
This material does not constitute legal or tax advice. Investors should consult with their legal or tax advisors.