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<blockquote data-quote="Nolimitz" data-source="post: 4914636" data-attributes="member: 43941"><p>Incorrect funds go back to the employer</p><p></p><p><em><strong>Unused funds go</strong> to your employer, who can split it among employees in the <strong>FSA</strong> plan or use it to offset the costs of administering benefits. Under no circumstances can your boss give the <strong>money</strong> back to you directly, according to IRS rules. Once the plan year is over, that <strong>money</strong> is gone.May 24, 2016</em></p><p><em></em></p><p><em><strong>Employers</strong> may continue to use <strong>forfeited funds</strong> to apply to administrative costs incurred during the plan year, or they may credit those leftovers to employees' FSAs in the next year's plan, as long as the employer in no way bases the credit on employees' claims experience and <strong>does</strong> not violate the Internal Revenue Code ...Jan 7, 2021</em></p></blockquote><p></p>
[QUOTE="Nolimitz, post: 4914636, member: 43941"] Incorrect funds go back to the employer [I][B]Unused funds go[/B] to your employer, who can split it among employees in the [B]FSA[/B] plan or use it to offset the costs of administering benefits. Under no circumstances can your boss give the [B]money[/B] back to you directly, according to IRS rules. Once the plan year is over, that [B]money[/B] is gone.May 24, 2016 [B]Employers[/B] may continue to use [B]forfeited funds[/B] to apply to administrative costs incurred during the plan year, or they may credit those leftovers to employees' FSAs in the next year's plan, as long as the employer in no way bases the credit on employees' claims experience and [B]does[/B] not violate the Internal Revenue Code ...Jan 7, 2021[/I] [/QUOTE]
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