New Hampshire

Program Name: NH ABLE PLan (click to open an account) Phone: 1-888-609-3263 from 8am-5pm ET
Status: Open for Enrollment
State Program Manager: Ascensus College Savings Recordkeeping Services, LLC
State Account Limit: $596,925
Accepts Out Of State Residents: No
Annual Contribution Limit: $18,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.)
ABLE To Work Act Contribution: An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to his or her ABLE Account. The additional amount that may be contributed is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is the less. This is up to $14,580 for residents of New Hampshire.
Program Banking Institution: Fifth Third Bank
Number Investment Options: 7
Program Investment Institution(s): The Investment Options include 6 Target Risk Options with Underlying Investments managed by BlackRock, Schwab, Vanguard, Capital Group-American Funds, and Sallie Mae Bank. Fifth Third Bank provides the 7th Investment Option, a Checking Account Option, that invests 100% of its assets in an FDIC-insured checking account.
Debit Card Or Prepaid Card: Yes
Withdrawal Hold Rules: Yes.   Contributions to the Target Risk Options will be held for 5 or 6 business days before becoming available for withdrawal and contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal.
Medicaid Estate Recovery Status: To the extent provided in subsection 26 U.S.C. §529A(f) upon the death of the Account Owner, the State of New Hampshire shall have a claim for payment from the Account Owner in an amount equal to the total medical assistance paid for the Account Owner after the establishment of the account. Any remaining funds in the Account Owner’s Account shall be distributed as provided in the Plan Disclosure Booklet, including without limitation to a Successor Account Owner, or distributed to the Account Owner’s estate if no other designation is made.
State Income Tax Deduction: No. There is no state income tax for residents of New Hampshire.
FDIC Insured: Yes. The Checking Account Investment Option invests 100% of its assets in a checking account held at Fifth Third Bank, which offers FDIC insurance up to $250,000, subject to certain restrictions. The ABLE Account cannot be opened at a Fifth Third Bank branch. Visit the Plan’s website to open the ABLE Account.
Account Disclosure Document(s):

Please See Plan Disclosure Document


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?
    Yes. $1.
  • Is there an annual set fee to maintain the account? If so, how much?
    Yes. Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter).
  • 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?
    Yes. $5.00 per month
  • Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?
    Yes. $0.
  • Fee Range
    • Annual Maintenance Fee:
      Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter).
    • Check Fee:
      $0
    • Debit Card Fee:
      Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account.
    • Investment Option Fee Range:

      Please See Plan Disclosure Documents

    • Statement Fee:
      Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter).
    • ABLE Account Transfer Fee:
      There is no fee for rolling over an account, however, based on when the account is terminated, the account owner may be assessed a portion of the maintenance fee.
    • Withdrawal Transaction Fee:
      $0
  • Are there other characteristics unique to your program?

    New Hampshire is a member of the National ABLE Alliance, a bi-partisan consortium of states and the District of Columbia. New Hampshire savers and investors can choose among 7 Investment Options, including a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The New Hampshire ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to a New Hampshire ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

    Where can I find the ABLE Plan’s investment performance information?

    Please See Plan Disclosure Document

NH ABLE PLan (click to open an account) Phone: 1-888-609-3263 from 8am-5pm ET