80 FR 77404 - Advance Notification Regarding Reporting by State ABLE Programs Under Section 529A of the Internal Revenue Code

SOCIAL SECURITY ADMINISTRATION

Federal Register Volume 80, Issue 239 (December 14, 2015)

Page Range		77404-77404
FR Document		2015-31351

This notice provides advance notification to State Achieving a Better Life Experience (ABLE) programs of the general types of information we anticipate requiring that the State programs include in their monthly electronic reports of ABLE account balances and distributions. We are also requesting information from the public and State ABLE programs about these general types of information and whether these electronic reports should include any other information.

Federal Register, Volume 80 Issue 239 (Monday, December 14, 2015)

[Federal Register Volume 80, Number 239 (Monday, December 14, 2015)]
[Notices]
[Page 77404]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-31351]


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SOCIAL SECURITY ADMINISTRATION

[Docket No. SSA-2015-0059]


Advance Notification Regarding Reporting by State ABLE Programs 
Under Section 529A of the Internal Revenue Code

AGENCY: Social Security Administration.

ACTION: Notice; request for comments.

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SUMMARY: This notice provides advance notification to State Achieving a 
Better Life Experience (ABLE) programs of the general types of 
information we anticipate requiring that the State programs include in 
their monthly electronic reports of ABLE account balances and 
distributions. We are also requesting information from the public and 
State ABLE programs about these general types of information and 
whether these electronic reports should include any other information.

DATES: Comments must be received by January 13, 2016.

ADDRESSES: You may submit comments by any one of three methods--
Internet, fax, or mail. Do not submit the same comments multiple times 
or by more than one method. No matter which method you choose, please 
state that your comments refer to Docket No. [SSA-2015-0059] so that we 
may associate your comments with the correct document.
    Caution: You should be careful to include in your comments only 
information that you wish to make publicly available We strongly urge 
you not to include in your comments any personal information, such as 
Social Security numbers or medical information.
    1. Internet: We strongly recommend that you submit your comments 
via the Internet. Please visit the Federal eRulemaking portal at http://www.regulations.gov. Use the Search function to find docket number 
[SSA-2015-0059]. The system will issue you a tracking number to confirm 
your submission. You will not be able to view your comment immediately 
because we must post each comment manually. It may take up to a week 
for your comment to be viewable.
    2. Fax: Fax comments to (410) 966-2830.
    3. Mail: Address your comments to the Office of Regulations and 
Reports Clearance, Social Security Administration, 3100 West High Rise 
Building, 6401 Security Boulevard, Baltimore, Maryland 21235-6401.
    Comments are available for public viewing on the Federal 
eRulemaking portal at http://www.regulations.gov or in person, during 
regular business hours, by arranging with the contact person identified 
below.

FOR FURTHER INFORMATION CONTACT: Eric Skidmore, Office of Income 
Security Programs, Social Security Administration, 6401 Security 
Boulevard, Baltimore, MD 21235, (410) 597-1833. For information on 
eligibility or filing for benefits, call our national toll-free number, 
1-800-772-1213 or TTY 1-800-325-0778, or visit our Internet site, 
Social Security Online at http://www.socialsecurity.gov.

SUPPLEMENTARY INFORMATION: 
    Background: The Stephen Beck, Jr., Achieving a Better Life 
Experience Act of 2014 (ABLE Act) was enacted on December 19, 2014, as 
part of the Tax Increase Prevention Act of 2014 (Public Law 113-295). 
The ABLE Act permits a State, or an agency or instrumentality of a 
State, to establish and maintain a new type of savings program, called 
an ABLE program. Under an ABLE program, contributions can be made to a 
tax-advantaged ABLE account that is established for the purpose of 
providing secure funding for disability-related expenses on behalf of 
the account's designated beneficiary that will supplement but not 
supplant benefits provided through other sources. The designated 
beneficiary of an ABLE account, who is also the owner of the account, 
must have been disabled or blind prior to his or her attaining age 26. 
The ABLE Act further provides that the Social Security Administration 
will exclude the first $100,000 in an ABLE account--for any period when 
the designated beneficiary maintains, makes contributions to, or 
receives distributions from his or her ABLE account--for purposes of 
the Supplemental Security Income (SSI) program. We shall also exclude 
distributions for qualified non-housing-related disability expenses for 
purposes of the SSI program.
    Section 529A(d)(4) of the Internal Revenue Code provides that 
``States shall submit electronically on a monthly basis to the 
Commissioner of Social Security, in the manner specified by the 
Commissioner, statements on relevant distributions and account balances 
from all ABLE accounts.'' Before accepting these electronic reports, we 
will enter into a data exchange agreement with each State. This 
agreement will specify the content, format, and the security and 
privacy requirements for these reports. However, we recognize that 
general guidance in advance of entering into these agreements may be 
helpful to the States as they design their ABLE programs, and we do not 
want uncertainty concerning these reports to delay the States' 
implementing their programs. Therefore, we are issuing this advance 
notice to inform State ABLE programs of the general types of 
information we anticipate requesting they include in their monthly 
reports of ABLE account balances and distributions.

    NOTICE: We currently anticipate that our data exchange agreements 
will require that the States provide in their monthly electronic 
reports information, concerning each ABLE account:
     Name of the designated beneficiary;
     Social Security number of the designated beneficiary;
     date of birth of the designated beneficiary;
     name of the person who has signature authority (if 
different from the designated beneficiary);
     unique account number assigned by the State to the ABLE 
account;
     account opened date;
     account closed date;
     balance as of the first moment of the month (that is, the 
balance as of 12:00 a.m. local time on the first of the month);
     date of each distribution in the reporting period; and
     amount of each distribution in the reporting period.

    Dated: December 4, 2015.
Carolyn W. Colvin,
Acting Commissioner of Social Security.
[FR Doc. 2015-31351 Filed 12-11-15; 8:45 am]
 BILLING CODE 4191-02-P

Document Created: 2015-12-14 13:46:55
Document Modified: 2015-12-14 13:46:55

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice; request for comments.
Dates		Comments must be received by January 13, 2016.
Contact		Eric Skidmore, Office of Income Security Programs, Social Security Administration, 6401 Security Boulevard, Baltimore, MD 21235, (410) 597-1833. For information on eligibility or filing for benefits, call our national toll-free number, 1-800-772-1213 or TTY 1-800-325-0778, or visit our Internet site, Social Security Online at http://www.socialsecurity.gov.
FR Citation		80 FR 77404