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 much does it cost to open an account?
-
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 can open a CalABLE account for an eligible beneficiary?
- An adult beneficiary with a qualifying disability can open and manage a CalABLE account. If a beneficiary is under the age of 18 or unable to open an account on their own, they must have an Authorized Legal Representative (also known as an ALR) do it for them. An ALR may be anyone who is selected... 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
- Where can I find my account number?
-
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.
- As an ALR, how do I add another CalABLE account?
- Start by logging in to your existing account. In the upper right corner of your screen, or in the navigation on your mobile device, find the icon next to your name that looks like a profile picture. Click on the arrow to enable a drop-down menu. Find the link that says, “Add account.” Click and... Read more
- Can I enroll and manage a CalABLE account with a paper form?
-
The easiest and fastest way to enroll and manage a CalABLE account is online. If you want to use paper forms for enrollment or managing your account, you can find the forms here.
- What are the fees?
- An annual fee of $30 per year is deducted in quarterly installments from each CalABLE account. There are also low fees on the underlying investment options plus a state administrative fee. Some fees are added based on how you use the account: $10 per year for paper statements when you choose to... Read more
- How do I choose my investment options?
- When you open a CalABLE account, you will be asked to pick your investment options. You will be shown all eight options, and you will assign a dollar amount to each option. You can choose multiple options or only one option. Each time you make a contribution, you must enter the dollar amount for... Read more
- What do I need to open an account?
- Make sure you have this information handy: Your email address; Your birthday; Social Security Number or Tax Identification Number; Residency address. If you’re an Authorized Legal Representative, you’ll need the same information as the beneficiary’s, plus your work status. If the beneficiary... Read more
- How do I open an account?
- Once you’ve gone through all the eligibility requirements, it only takes 10 minutes to open an account online. You (or your Authorized Legal Representative) will need to have some basic information handy. Once you’ve been verified, you’ll set up the account details by: Creating a... Read more
