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Employee Benefits

Please note: This item is from our archives and was published in 2005. It is provided for historical reference. The content may be out of date and links may no longer function.

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The Treasury Department and IRS issued Notice 2005-42, which allows employers to modify flexible spending arrangements (FSAs) to extend the deadline for reimbursement of health and dependent care expenses up to 2.5 months after the end of the plan year ( www.treas.gov/press/releases/reports/n0542.pdf ). Previously, employees forfeited any FSA funds they did not use by the end of the year.