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• What is IRS Form 1099-QA?

  If you make a withdrawal from your account, you will receive the IRS Form 1099-QA, which is a tax form that details all of the withdrawals you made throughout the tax year from your account. This statement reports withdrawals from the ABLE account in the prior calendar year. You only receive a...

• What is IRS Form 5498-QA?

  If you make a contribution to your account, you will receive IRS Form 5498-QA, which is a tax form that details all of the contributions you made throughout the tax year to your account. This form reports ABLE account contributions, rollovers and direct program-to-program transfers in the prior...

• What is the ABLE Act?

  Millions of people with disabilities rely on public benefits and federal programs such as Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), Medicaid, and others for their basic living needs, but even those benefits can be limiting. Those receiving much needed...

• What is the difference between the Palmetto ABLE Savings Program and STABLE Account?

• What kind of benefits do I get?

  One of the main benefits of having a STABLE account is being able to save for qualified expenses and invest for the future in a tax-advantaged account.  Your Supplemental Security Income (SSI) will not be affected as long as the account balance stays below $100,000. Other federally means-tested...

• What type of bank accounts can I add?

  You can connect a checking or savings account.

• What type of disabilities qualify for an account?

  Any disability that qualifies for Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI) or blindness that developed before the age of 26 is eligible for a STABLE account. Some of the conditions recognized by the Social Security Administration that could qualify based on...

• When is IRS form 1099-QA available?

  The plan administrator must send the 1099-QA by January 31, so you should receive the form no later than early February following the close of the tax year. You will receive it via mail or electronic delivery based on communications preferences. 

• When is IRS form 5498-QA available?

  The plan administrator must send the 5498-QA by March 15, so you should receive the form no later than late March following the close of the tax year. You will receive it via mail or electronic delivery based on communications preferences.

• Where can I change my password or set up multi-factor authentication?

  Once you log in, select “Security Center” from the dropdown menu next to your profile icon in the upper right corner of the screen. You can also go to your profile and select the “Open Security Center” button next to Login settings. From here, you can make any changes to your account that have to...