Welf. & Inst. Code, § 4881 · Chapter 15. Qualified ABLE Program
Welf. & Inst. Code, § 4881
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) The board shall provide an annual listing of distributions to individuals with respect to an interest in an ABLE account to the Franchise Tax Board at a time and in a manner and form as specified by the Franchise Tax Board. The taxpayers’ identification numbers obtained in connection with an ABLE account shall be used exclusively for state and federal tax administration purposes.
(b) The board shall make a report to the appropriate individual of any distribution to any individual with respect to an interest in an ABLE account, at a time and in a form and manner as required by the Franchise Tax Board.
(c) The board shall report annually to each designated beneficiary all of the following:
(1) The value of the designated beneficiary’s account.
(2) The interest earned thereon.
(3) The rate of return of the investments in the designated beneficiary’s account for that reporting period.
(4) Information on investments and qualified disability expenses that designated beneficiaries can use to set savings goals and contribution amounts.
(d) The board shall provide a means for designated beneficiaries to express concerns or comments regarding the ABLE program trust and any information required to be reported by this section.
Notes and commentary — not statutory text
History
Added by Stats. 2015, Ch. 796, Sec. 2. (SB 324) Effective January 1, 2016.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=WIC§ionNum=4881.
- Text hash
- sha256 a1860eaa560cae265ec6b966688f0afd2e8171524abead169cdca2678438988d
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.