Examples of ABLE account in a sentence
To avoid any potential disqualification of an ABLE Account in the Plan, the Plan requires you to certify that the ABLE Account from which a Rollover is being made into the Plan has been closed before the ABLE Account in the Plan is opened.
If the account that receives the transfer is not treated as an ABLE Account, the account will not be eligible for the benefits of ABLE Accounts.
In the case of an Indirect ABLE to ABLE Rollover, the ABLE Account from which amounts were rolled, or taken from, must be closed as of the 60th day after the amount was distributed from the ABLE Account in order for the account that received the Rollover to be treated as an ABLE Account.
I already have a (check those that apply): Power of Attorney (Agent: INSERT NAME) Health Care Proxy (Agent: INSERT NAME) Representative Payee (INSERT NAME) Special Needs Trust (Trustee: INSERT NAME) ABLE Account Other: [NOTE TO DECISION-MAKER: If you intend to end another instrument listed above, you must follow the steps required for that instrument.] I (circle one:) want / DO NOT want (insert name of document here:) to continue.
A Non-Qualified Withdrawal is any withdrawal that does not meet the requirements of being: (1) a Qualified Withdrawal; or (2) a rollover from a STABLE Account to another ABLE Account or out of the Plan.