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
- Can I connect more than one bank account to a Hawai'i ABLE account?
- Yes, you can connect more than one bank account to your Hawai'i ABLE account, as well as multiple types of bank accounts. You can have both savings and checking accounts linked to your account at one time, but you will need to go through the process of connecting each account individually. The... Read more
- How do I connect more than one bank account to a Hawai'i ABLE account?
- Adding an additional bank account is simple. Once you’re logged in to your Hawai'i ABLE account dashboard, find the “Accounts” section in your profile and click on “Add a new bank account.” Follow the steps to connect a new bank account associated with either the name of the beneficiary or the... Read more
- How do I manage different bank accounts with multiple beneficiaries?
- If you’re an Authorized Legal Representative (ALR) of more than one ABLE account, you can use the same banking information for multiple accounts, as long as you own or are the ALR on those ABLE accounts. Otherwise, each beneficiary can use one or more bank accounts in their own name, or the name of... Read more
- Can I open or manage more than one Hawai'i ABLE account?
- A person with a disability may only be the beneficiary of a single ABLE account. However, an individual may manage multiple ABLE accounts for different beneficiaries (i.e. an ABLE account for yourself and your child). If you serve as an Authorized Legal Representative (ALR) you can manage multiple... Read more
- How do I add another ABLE account?
- If you would like to manage multiple Hawai'i ABLE accounts for different beneficiaries (i.e. an ABLE account for yourself and your child), you can add a new account in two ways. Logged out, from the sign-up page: Go to the Hawai’i ABLE Savings Program website to sign up for a new ABLE account.... Read more
- Where can I find my Hawai'i ABLE account number?
- To find your account number, log in to your Hawai'i ABLE account, click on the beneficiary (if you have more than one), go to “Settings” on the upper right side of the page, select “Account Information,” then click show next to “Account Number.” Other information specific to the beneficiary and... Read more
- How do I change my address?
- You can update the address of either a beneficiary or an Authorized Legal Representative through your online dashboard under the Settings menu. Generally, an address change to a Hawai'i ABLE account will not affect the operation of your account. However, all check withdrawals requested with the... Read more
- Who is Vestwell?
- Upward Oregon, part of the Oregon State Treasury, administers and oversees the Hawai'i ABLE Savings Plan. Vestwell State Savings, LLC, is the plan manager for the ABLE for ALL Savings Plan — which powers the Hawai’i ABLE program — and provides the online platform for the ABLE account. Vestwell... Read more
- Do I have to pay taxes on my account?
- No. If the money in your ABLE account is used to pay for qualified expenses, it won’t be counted as income for your state or federal taxes. The definition of a qualified expense for ABLE is broad, inclusive of anything that impacts the person with a disability’s health, independence and quality of... Read more
- How is an ABLE account different from a Special Needs Trust or a Pooled Trust?
- An ABLE account won’t replace a Special Needs Trust or Pooled Trust. There are some key differences that are meant to give people with disabilities and their families more options. With an ABLE account: There are fewer expenses than setting up a trust. The beneficiary owns the funds and can... Read more
