4 Easy Ways to Make Withdrawals from an IL ABLE Account
Funds in an IL ABLE Account can be used to pay for Qualified Disability Expenses, which are any expenses that help to improve the health, independence, or quality of life of the Account Owner. Here are four ways to make a withdrawal request to pay for a Qualified Disability Expense.
- Request a withdrawal: A withdrawal can be issued by check to the Account Owner, Authorized Individual, or third party. Make a withdrawal request by:
- by calling the Plan, or
- by logging into the Account online, or
- by mailing in a completed Withdrawal Request Form.
2. By electronic funds transfer (ETF): For Accounts that have established online access, ETF withdrawal requests can be made by logging into the Account online or by calling Customer Service.
3. By debit card or check: For Accounts that are invested in the Checking Account Option, withdrawals can be made using the debit card or by writing a check. Learn more about the Checking Account Option.
4. Systematic Withdrawal Program: If an Account Owner has recurring expenses, setting up a systematic withdrawal using the Account Financial Features Form may be useful.
Whichever method is selected, it is always recommended that Account Owners or Authorized Individuals save receipts and statements of withdrawal transactions.
For more about how to make withdrawals.
Explore IL ABLE Resources
Learn what an IL ABLE disability savings Account is, who is eligible, how to open an Account, and how it can help you save for qualified disability-related expenses while protecting important benefits.
- Learn About ABLE Accounts
- Read the ABLE Plan Disclosure Booklet
- Compare ABLE Investment Options
- Open an ABLE Account
- Request an IL ABLE Presentation by emailing Rosemary Laudani at rlaudani@illinoistreasurer.gov.
For assistance, call 888-609-8683 Monday through Friday from 8 am to 5 pm CT, or email il.clientservice@savewithable.com. Support is available in multiple languages and for callers who are deaf or hard of hearing.