FAQs
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- 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
- How can I connect a bank account?
- To connect a bank account to your Hawai'i ABLE account, first log in to your online dashboard, then go to the “Settings” tab and click on the “Add a new bank” button. Follow the steps to link a new bank account by connecting via Plaid or manually adding an account. If you manually add a bank... Read more
- Are there any contribution limits?
- Yes. There's a minimum $25 contribution to open an Hawai'i ABLE account, and then any subsequent transactions — including contributions, withdrawals, bank transfers, and gifts — need to be at least $5 each. Individual online contributions are capped at the annual ABLE contribution limit for the... Read more
- How do I set up automatic contributions?
- It’s easy to set up automatic monthly contributions from your bank account (or multiple accounts) into your Hawai'i ABLE account. You can securely link your account in the online portal and make adjustments to your contributions as needed. Plus, you can contribute as little as $5 each time. Follow... Read more
- How do I choose an investment option?
- When setting up your Hawai'i ABLE Savings Plan account, you can save money in a cash option, investment option, or both. The choice is up to you. If you decide to invest all or some of the money, there are three investment options to choose from: ABLE Conservative, ABLE Moderate, and ABLE... Read more
- Do I have to live in Hawai'i to open a Hawai'i ABLE account?
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Yes, you must be a Hawai'i resident to open a Hawai'i ABLE Savings Plan account. If you aren’t a Hawai'i resident, you might consider opening an account with ABLE for All, a national savings plan run by the state of Oregon that has many of the same features.
- Do I need a Social Security Number to open an ABLE account?
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Yes. You need to have a Social Security Number (SSN) or an Individual Tax ID Number (ITIN) to open an ABLE account. Learn more about the process of getting a or an , on these official government websites.
- Can I connect more than one bank account or type of account?
- Yes, you can connect more than one bank account and multiple types of bank accounts. While both checking and savings account types can be linked to your Hawai'i ABLE account at the same time, please note, the set-up process requires individually connecting each account. The Authorized Legal... Read more
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