Annual aggregate contributions to an account cannot exceed the federal gift tax limit ($17,000 as of 2023), unless the beneficiary is working. The ABLE to Work legislation specifies that ABLE account beneficiaries who work and earn income may now contribute over the annual limit of $17,000 into their ABLE account. The additional permissible contribution amount equals the lesser of the individual's gross income or the amount equal to the federal poverty line set for one person, currently $13,590. This additional contribution over $17,000 is only permitted if the beneficiary is not participating in his or her employer's work retirement plan.
An account balance can grow without limit, but no additional contributions can be made that cause the balance to exceed $500,000.