Advance Notification Regarding Reporting by State ABLE Programs Under Section 529A of the Internal Revenue Code, 77404 [2015-31351]
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Federal Register / Vol. 80, No. 239 / Monday, December 14, 2015 / Notices
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office of the Exchange. All comments
received will be posted without change;
the Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–CBOE–
2015–110 and should be submitted on
or before January 4,2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Brent J. Fields,
Secretary.
[FR Doc. 2015–31327 Filed 12–11–15; 8:45 am]
BILLING CODE 8011–01–P
SOCIAL SECURITY ADMINISTRATION
[Docket No. SSA–2015–0059]
Advance Notification Regarding
Reporting by State ABLE Programs
Under Section 529A of the Internal
Revenue Code
Social Security Administration.
Notice; request for comments.
AGENCY:
ACTION:
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.
mstockstill on DSK4VPTVN1PROD with NOTICES
SUMMARY:
11 17
CFR 200.30–3(a)(12) and (59).
VerDate Sep<11>2014
17:36 Dec 11, 2015
Jkt 238001
1. Internet: We strongly recommend
that you submit your comments via the
Internet. Please visit the Federal
eRulemaking portal at https://
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 https://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
https://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 taxadvantaged 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
PO 00000
Frm 00091
Fmt 4703
Sfmt 9990
account—for purposes of the
Supplemental Security Income (SSI)
program. We shall also exclude
distributions for qualified non-housingrelated 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
E:\FR\FM\14DEN1.SGM
14DEN1
Agencies
[Federal Register Volume 80, Number 239 (Monday, December 14, 2015)]
[Notices]
[Page 77404]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[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.
-----------------------------------------------------------------------
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 https://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 https://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 https://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