No

An account owner must be an eligible individual under Section 529A as well as a U.S. Citizen or resident alien with a SSI/TIN number and valid permanent U.S. street address.

To be eligible for an ABLE savings plan, an individual must have been diagnosed with a disability before age 26, and be eligible to receive benefits under Supplemental Security Income (SSI) and/or Social Security Disability Insurance (SSDI). Individuals who are not receiving SSI and/or SSDI may still be eligible if they meet the age requirement and have been diagnosed by a licensed physician and received a letter of certification.

Annual contribution limit is currently $19,000 from all sources. If the beneficiary works, the beneficiary can also contribute part, or all, of their income to their ABLE account. This additional contribution is limited to the poverty-line amount for a one-person household. For 2025, this amount is $15,060. The designated beneficiary is not, however, eligible to make this additional contribution if their employer contributes to a workplace retirement plan on their behalf.

ABLE account beneficiaries can qualify for the Saver's Credit based on contributions they make to their ABLE accounts. Up to $2,000 of these contributions may qualify for this special credit designed to help low- and moderate-income workers.

No additional contributions may be made for the benefit of an account owner when the fair market value of the account exceeds the account balance limit of $505,000. Accounts that have reached the account balance limit may continue to accrue earnings, although future contributions may not be made to such accounts. If however, the market value of such account falls below the account balance limit due to market fluctuations and not as a result of withdrawals from such account(s), additional contributions will be accepted.

The initial and additional contribution minimum is $25.

Select among 7 portfolio options: Aggressive Option, Moderately Aggressive Option, Growth Option, Moderate Option, Moderately Conservative Option, Conservative Option or Money Market Option.

A checking option with Fifth Third Bank, which invests 100% of its assets in an FDIC-insured checking account.

None

$56, assessed at $14 per calendar quarter. The quarterly fee is discounted to $7.75 for account owners who elect to receive statements via electronic delivery. There is a $2 monthly service charge for investments in the Checking Account Option, which is waived for accounts with an average daily balance of more than $250 or that are signed up for electronic delivery.

0.28%; none for the Checking Option

Ranges from 0.02% to 0.05%, depending on the investment option chosen

0.28% - 0.31%, depending on the investment option chosen

None, but a $25 fee applies to all outgoing wires and priority delivery service

None

Iowa individual taxpayers who make a contribution can deduct up to $5,800 for 2025 (adjusted annually for inflation) of their contributions including rollovers from a non-Iowa 529A plan, in determining their adjusted gross income for Iowa income tax purposes.

None

Any earnings on contributions are not subject to Iowa state income tax, which means account assets grow free of current Iowa income tax and are tax-free if withdrawn.

Iowa follows federal tax-free treatment of rollovers, though tax-free rollovers are restricted to once per 12-month period.

The CMS guidance can be found at Implications of the ABLE Act for State Medicaid Programs on the CMS website. Please consult with your state's Medicaid office with any additional questions.

Under Section 529A, following the death of the account owner, any state may file a claim against the account owner or the account itself for the amount of the total medical assistance paid for the account owner under the state's Medicaid plan after the establishment of the account (or any ABLE account from which amounts were rolled or transferred to the current account). The amount paid in satisfaction of such a claim is not a taxable withdrawal from the account. Further, the amount is to be paid only after the payment of all outstanding payments due for the qualified disability expenses of the account owner and is to be reduced by the amount of all premiums paid by or on behalf of the account owner to a Medicaid Buy-In program under that state's Medicaid plan.

Yes, Yes the IAble Plan offers a Checking Account Option with a debit card tied directly to Fifth Third Bank.

Withdrawals will be sent by check or ACH to the account owner at the address on the Account or a third party designated by the account owner.

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Yes

Yes

ia.clientservice@savewithable.com