Washington, D.C. ABLE Account Information
- Status: Open for Enrollment
- Program Name: DC ABLE
- Program Manager: Ascensus
- Program Investment Institution: First National Bank of Omaha
- Program Website: dc.savewithable.com
- Annual Contribution Limit: $15,000.00
Washington, D.C. ABLE Account FAQs
Does this program offer enrollment to out of state residents?
Is there a state income tax deduction or credit for contributions made into accounts opened in this state by state residents?
Is there an initial minimum contribution requirement to open an ABLE account? Is there an annual set fee to maintain the account?
Yes. The initial minimum contribution requirement to open an ABLE account is $25.00.
Is there an annual set fee to maintain the account?
Yes; $60.00/year in quarterly installments of $15.00. If you elect electronic delivery notification for statements and confirmations, your Quarterly Account Maintenance fee will be discounted by $3.75.
Is there a required minimum contribution to your account? If so, what is the amount?
Are there fees or restrictions to the number of disbursement you are allowed?
Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?
Yes. There are currently no fees associated with rolling over your ABLE account from one ABLE program to another ABLE program.
Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?
Yes. If you are invested in the Checking Option, you will be charged a monthly service charge of $2.00. The fee is waived if your Account has an average daily balance over $250.00 or if you are enrolled in electronic statement delivery. The FDIC-insured checking option is from Fifth Third Bank.
How many investment options are associated with the program? Do those investment options vary in risk?
There are six options. These investment options range from conservative to aggressive with varying levels of risk, based on the risks of the underlying component investments.
Is there a fee associated with the investment choices? If so, how much?
Depending on the investment choices, the total fees range from 0.34% – 0.37%.