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FSA March 31st deadline


Guest nld26

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Guest nld26

Is anyone familiar with a new regulation that states that claims for FSA reimbursement must be received by March 31st, rather than being postmarked by March 31st?

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I doubt there is a regulation that says that since not all plans are on a calendar year basis. ;)

Here is the wording from the most recent proposed regulations:

(f) Run-out period. A cafeteria plan is

permitted to contain a run-out period as

designated by the employer. A run-out

period is a period after the end of the

plan year (or grace period) during which

a participant can submit a claim for

reimbursement for a qualified benefit

incurred during the plan year (or grace

period). Thus, a plan is also permitted

to provide a deadline on or after the end

of the plan year (or grace period) for

submitting a claim for reimbursement

for the plan year. Any run-out period

must be provided on a uniform and

consistent basis with respect to all

participants.

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