• New 2½ Month Grace Period Reduces "Use-It-Or-Lose-It" Risk Under Flexible Spending Account Plans
  • June 21, 2005
  • Law Firm: Bingham McCutchen LLP - Boston Office
  • On May 18, 2005 the Internal Revenue Service issued a Notice which permits sponsors of flexible spending account plans ("FSA plans") to extend, by up to 2½ months after the end of a plan year, the period during which employees may incur expenses that can be reimbursed from funds in the employees' flexible spending accounts contributed for the plan year.