Tax – Montana and the District of Columbia Open Qualified ABLE Programs

Recently, Montana and the District of Columbia opened qualified ABLE programs, bringing the total number of jurisdictions with ABLE programs to 26. Both plans are open to all eligible individuals nationwide. They have six investment options and a checking account with a debit card. There is a $40 annual account maintenance fee, an annual $15 fee for printing and delivery of statements, and asset-based fees that range from 0.34% to 0.38% for investment options. The minimum initial deposit is $25. More information about state implementation of the ABLE Act can be found here. General information about ABLE programs can be found in the National Policy Matters: ABLE Accounts for People with Disabilities here.

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