(a) The Program will provide a periodic statement of
account to the participant no less than annually. The statement will
include, but not be limited to, the following information related
to the account for the period reported:
(1) contributions;
(2) distributions;
(3) fees;
(4) value of the account as of the report ending date;
and
(5) any earnings or losses during the period reported.
(b) The Program will report account information to
the Internal Revenue Service, Social Security Administration, or other
state or federal regulatory bodies as required by Internal Revenue
Code, §529A, United States Treasury regulations or guidance,
or other state or federal reporting requirements.
(c) The Program will issue Internal Revenue Service
Forms 1099-QA and 5498-QA and any other forms mandated in accordance
with Internal Revenue Service instructions for ABLE programs for the
calendar year in which any distribution is made from an account.
(d) Participants may request a statement of the balance
in their ABLE account at any time subject to any fees that may be
charged by the Program or plan manager.
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