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Cafeteria Plan - Section 125

 

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Subject Author Date
Cafeteria Plan - Section 125 Timothy J. Trace 04-10-2007
Posted by Timothy J. Trace on April 10, 2007, 9:28 am
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Greetings,

I let a cafeteria plan year expire with a substantial amount
of funds in the account.

Where will my money go?

Can it be recovered somehow as taxable income?

Best regards,

Tim ==
(substitute 'tcsys.com' for 'nospam.co.uk')

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Posted by John D. Goulden on April 11, 2007, 11:28 pm
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> I let a cafeteria plan year expire with a substantial amount
> of funds in the account.

Oops. The disposition of unspent funds in S125 accounts is
determined by your employer. This was probably specified in
the paperwork associated with your account. Your HR
department can tell you for sure whether or not you have any
chance to get any of that money back.

--
John D. Goulden

<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>

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