What is the length of the extended grace period?

If your plan includes the extended grace period, it is for 2-1/2 months after the end of the current plan year. You should refer to your Plan Highlights for the time frames that are applicable to your plan.

What is an extended grace period? (FSA)

IRS Notice 2005-42 modifies the Use-or-Lose Rule to allow participants to access any unused amounts remaining in a Flexible Spending Account (FSA) at the end of the plan year to reimburse eligible expenses provided during a grace period after the close of the plan year. Note: The IRS does not require plans to include the […]