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In April 2024, the National Association of State Treasurers’ ABLE Savings Plans Network (ASPN) and ABLE today hosted a webinar focused on Social Security Benefits and ABLE accounts, specifically representative payees and reporting to the SSA. Below is a recording of the webinar, or it can be found at www.abletoday.org/ssa.
Below is additional information related to SSA benefits and ABLE accounts:
In general, most SSA reporting requirements for ABLE accounts are basic and minimal. If an ABLE enrollee receives Supplemental Security Income (“SSI”) benefits, SSA asks that they report the opening and closing dates of their ABLE account to SSA. They should also tell SSA if their ABLE account balance ever exceeds $100,000. In a few instances (discussed further in the webinar), a particular ABLE withdrawal or deposit should also be reported to SSA but those situations are not common for most ABLE account holders.
If ABLE enrollees have questions about reporting ABLE account information to SSA, they should contact their local SSA field office.
ABLE-related SSA information can also be found at the following links:
In April 2024, the National Association of State Treasurers’ ABLE Savings Plans Network (ASPN) and ABLE today hosted a webinar focused on Social Security Benefits and ABLE accounts, specifically representative payees and reporting to the SSA. Below is a recording of the webinar, or it can be found at www.abletoday.org/ssa.
Below is additional information related to SSA benefits and ABLE accounts:
In general, most SSA reporting requirements for ABLE accounts are basic and minimal. If an ABLE enrollee receives Supplemental Security Income (“SSI”) benefits, SSA asks that they report the opening and closing dates of their ABLE account to SSA. They should also tell SSA if their ABLE account balance ever exceeds $100,000. In a few instances (discussed further in the webinar), a particular ABLE withdrawal or deposit should also be reported to SSA but those situations are not common for most ABLE account holders.
If ABLE enrollees have questions about reporting ABLE account information to SSA, they should contact their local SSA field office.
ABLE-related SSA information can also be found at the following links:
Information for Members of the Public:
Instruction Manuals for SSI Professionals, SSA Employees, and Representative Payees: