Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are there IRS regulations and reporting for FSAs?

April 26, 2017FSAs IRS regulations

0

Posted

Are there IRS regulations and reporting for FSAs?

1 Answer

0

Posted

Yes. Healthcare and Dependent Care FSAs are regulated by Section 125 of the IRS Code. Transit and parking benefits are regulated by Section 132 of the IRS Code. Employers are required to file Schedule C (records fees paid to Sterling to administer the plan) and Schedule H, if the employer is funding the employees’ expenses out of a trust. Form 5500 must be filed by employers with over 100 employees. If filed, it must include Schedule C.