Frequently asked questions
Scroll down to see answers to things we get asked a lot. If you're looking for something specific, enter or choose a keyword below.
- ALR
- Benefits
- Eligibility
- Fees
- General
- Gifting
- How it works
- Linking bank accounts
- Opening an account
- Prepaid card
- Qualified expenses
- Successors and Estates
- Tax benefits
- How do I prove my eligibility?
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You will be asked a series of questions when opening your account. If your eligibility depends on a medical diagnosis, you will not need to produce a copy of your diagnosis to open an account, but you must have the diagnosis available and provide it upon request.
- Do I have to be a resident of California to open a CalABLE account?
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No. Residents from any state may open a CalABLE account.
- How much does it cost to open an account?
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There is no fee to open an account. However, you’ll need to make an initial deposit of at least $25 to get started and a $1 minimum for any contribution after that. Additionally, there are some minimal fees that apply to all accounts.
- Who controls the funds in a CalABLE account?
- The Eligible Individual is considered to be the account owner. However, anyone who is selected by the eligible individual with legal capacity, who has Power of Attorney, is a conservator or legal guardian, a spouse, parent, sibling, grandparent, or a representative payee (individual or... Read more
- What happens if the beneficiary is no longer eligible for an account?
- If a beneficiary no longer meets eligibility requirements, they (or their account manager) should sign in to the account’s settings and update their eligibility. Their account will remain open, and they can continue to use the account. However, withdrawals made at a time the beneficiary is no... Read more
- Can a Social Security Representative Payee open an account for a beneficiary?
- If you’re an eligible beneficiary with a Representative Payee, you can open an account for yourself. If you have legal capacity, you may select a Representative Payee to open and manage an account for you. Otherwise, to have a Representative Payee open and manage an account for you, they must... Read more
- What is a CalABLE account?
- A CalABLE account is an investment account available to eligible individuals with disabilities. CalABLE accounts are made possible by the federal Achieving a Better Life Experience (“ABLE”) Act. These accounts allow individuals living with disabilities to save and invest money without losing... Read more
- Are CalABLE accounts like my bank checking or savings account?
- CalABLE accounts have some similar features, but they are not checking or savings accounts. CalABLE accounts are a special form of investment account. You will be saving or investing your money in different options provided. While you can still withdraw and spend your money as-needed, CalABLE... Read more
- What is ABLE to Work?
- The ABLE to Work Act, effective January 1, 2018, revised the Internal Revenue Code applicable to ABLE accounts to permit eligible employed beneficiaries to save more in their ABLE accounts. Over and above the standard Annual Contribution Limit ($18,000 for 2024), a working beneficiary is allowed to... Read more
- Where can I find my account number?
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You can find and edit all the information about a CalABLE account on the settings page — including contact info, condition, customization, money allocation, and yearly goal.
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