What is the grace period?
A.IRS regulations permit a 2 month grace period (through March 15) for participants to incur expenses that may be reimbursed from contributions made in the preceding year. This provides additional time to take advantage of FSA contributions before the amounts are forfeited under the “use-it-or-lose-it” rule. It is still important, however, to be somewhat conservative when choosing the amount of your FSA contribution; you will lose any balance not used during the plan year and subsequent grace period. (Top of Page) …………………………………………………………………………………………………………….
The IRS now permits a “grace period” of two months and 15 days following the end of the plan year during which medical and dependent care expense account contributions from one plan year may be used for eligible medical and dependent care expenses incurred through March 15th of the following year.
If you inadvertently fail to provide a timely payment, your Simple Store will continue to be available to your customers for one week after your subscription has expired. If you chose to renew your subscription, you will be charged regular price for the time used during this grace period. We recommend that you keep your subscription active.
If there is no earlier date indicated on your I-94, you are allowed a 30-day “grace period” after the termination date for the purposes of travel and departure. You can neither work during this period nor can you travel outside the U.S. and return. Back To Top Can I participate in more than one Training/Internship program in my lifetime? Intern: You may participate in multiple programs if you are enrolled at a non-U.S., post-secondary institution or within one year after your graduation from a non-U.S. academic institution. Trainee: You may participate in another program once you have completed two years of residency outside the U.S. after your training program. NOTE: The 2-year regulation pertaining to the trainee program is SEPARATE from the 2-year rule (212E) set forth by the U.S. Embassy and your home country government. Back To Top What is the 2-year rule (212E)? Commonly referred to as the 2-year rule, the 212E rule is a foreign residency requirement which may be imposed by your
