(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.

Source Note: The provisions of this §7.192 adopted to be effective September 12, 2016, 41 TexReg 7111