Regulations Published for Implementation of ABLE Act

The Internal Revenue Service published proposed regulations concerning the implementation of the Stephen Beck, Jr., Achieving a Better Life Experience Act (ABLE Act) of 2014.  The proposed regulations are titled Guidance Under Section 529A: Qualified ABLE Programs and were published on June 22, 2015.  The regulations address an explanation of provisions, the qualifications of an ABLE program, the standard for disability determination, limits on contributions to the account, and various other issues.  Public comments are due by September 21, 2015.  A public hearing to address these regulations is scheduled for October 14, 2015.  For the full version of the regulations, click here.