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Money Left in my Account at the End of the Year | Print |

What if I still have money left in my account at the end of the year?  

Federal Laws governing FSAs specifics that any money remaining in your account at the end of the plan year will be forfeited.   This is more commonly known as the “use-it-or-lose” rule.   The “use-it-or-lose-it rule is applicable under tax laws and it is one of the required trade-offs for the tax benefits gained being enrolled in a flex spending account.   An employee will forfeit any amounts in the FSA that are not applied to pay expenses submitted by 3 months after the close of the Plan Year for which the election was effective.

 
 

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