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February 20, 2019

Can a Social Security Representative Payee open an Account for a Beneficiary?

It depends — if you’re an eligible Beneficiary with a Representative Payee, you can open an Account for yourself. To have a Representative Payee open an Account for you, they must meet the requirements of an Authorized Legal Representative (such as a Parent, legal guardian, or power of attorney). Because the role of Representative Payee is specific and unique to Social Security benefits, it doesn’t apply to ABLE Accounts. Find out more about who can open an Account.


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The information contained in this website is for general information purposes only and does not constitute tax or investment advice. Performance of the program discussed herein is not guaranteed and is subject to market conditions, among other things. Carefully consider objectives, risks, charges and expenses before investing. As with any investment, it is possible to lose money by investing in this program. Please read the Program Description and Participation Agreement carefully.

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