Delaware

Program Name: DEPENDABLE
Status: Open for Enrollment
State Program Manager: Ascensus
State Account Limit: $350,000
Accepts Out Of State Residents: Yes
Annual Contribution Limit: $15,000
ABLE To Work Act Contribution: $12,140
Number Investment Options: 6
Program Investment Institution(s): BlackRock, Schwab, and Vanguard; “Except to the extent of Federal Deposit Insurance Corporation (FDIC) insurance provided for the Debit/Checking Option, ABLE accounts will be subject to investment risks, including loss of the principal amount invested. ”
Debit Card Or Prepaid Card: No
Withdrawal Hold Rules: Yes
Medicaid Payback Waived: No.
State Income Tax Deduction: No.
FDIC Insured: Yes
Account Disclosure Document(s):

Delaware ABLE Disclosure Statement


Program at a Glance

  • Is there an initial minimum contribution requirement to open an ABLE account? If so, how much?
    Yes. $25.
  • Is there a required minimum contribution to your account? If so, what is the amount?
    No.
  • Is there an annual set fee to maintain the account? If so, how much?
    Yes. The current account maintenance fee is $45 annually payable at $11.25 quarterly. With paper statements, the annual fee is $60, payable at $15 quarterly.
  • Are there fees or restrictions to the number of disbursement you are allowed? If so, what are they?
    No.
  • Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?
    No.
  • Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?
    Yes.
  • Fee Range
    • Annual Maintenance Fee:
      Each Account is charged an account maintenance fee of $15 each quarter. This fee can be discounted by $3.75 if you select email delivery for statements and confirmations. The fee can be discounted by another $1.25 if the Account Owner or Authorized Individual is a resident of Delaware.
    • Check Fee:
      $0; check book fee of $6
    • Investment Option Fee Range:
      $3.40 to $3.70 on $1,000 investment per year.
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