ABLE account definition

ABLE account or "account" means an account established

ABLE account means an account established within any state having a

ABLE account means an account estab- lished by an eligible individual, owned by the eligible individual and maintained under the qualified ABLE program established by the Oregon 529 Savings Board under ORS 178.380.

Examples of ABLE account in a sentence

• To avoid adverse federal income tax consequences, the funds received by the Account Owner from the rollover must be contributed to the new account, to an Account in the Plan, to an ABLE account within 60 days of withdrawal from the Account.

• If the contribution to the new account, an Account in the Plan, or an ABLE account occurs after the 60-day time frame, the rollover may be considered a Taxable Withdrawal or a Nonqualified Withdrawal, depending on the circumstances.

• Indirect Qualified Rollovers involve the transfer of funds from an Account to the Account Owner, who then contributes the funds to an account in another state’s 529 Plan, to an Account in the Plan for a different Beneficiary, or to an ABLE account for the same or a different beneficiary.

• Direct Qualified Rollovers involve the transfer of funds directly from an Account to an account in another state’s 529 Plan, to an Account in the Plan for a different Beneficiary, to an ABLE account for the same or a different beneficiary, or to a Xxxx XXX.

More Definitions of ABLE account

ABLE account means an individual trust account or savings

ABLE account means an account under a qualified ABLE program under Section 529A of the Code as further defined in Section 529A(e)(6) of the Code.

ABLE account means an account established by an eligible individual, owned by the eli-

ABLE account means an account established within any state having a qualified ABLE program as provided in 26 U.S.C. sec. 529A, as amended;

ABLE account means an account:

ABLE account means an account established under a qualified ABLE program and owned by the designated beneficiary of that account.

ABLE account or "account" means an account established for the purpose of financing certain qualified expenses of eligible individuals as specifically provided for in this Section and authorized by Section 529A of the Internal Revenue Code.