Social Security Administration Releases Updated Guidance on ABLE

May 29, 2019

On April 30, 2019, the Social Security Administration (SSA) published two changes to its Program Operations Manual System (POMS) regarding the ABLE Act and ABLE accounts.

POMS is based upon the law and is an operational policy reference used by SSA internal staff to conduct SSA business.

Highlights include:

  • Subsection B.2. provides the updated amount for the IRS gift tax exclusion for 2019.
  • Subsection C clarifies third-party contributions and the definition of gift as it relates to ABLE. It clarifies that “completed gift” refers to the IRS definition for gift-tax rules and not the definition of a gift in SI 00830.520: https://secure.ssa.gov/apps10/poms.nsf/lnx/0500830520.