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CBP Basics

Commuter Benefit Plans (CBPs), governed by Internal Revenue Code (IRC) Section 132(f), allow employees to pay for certain workplace mass transit and parking expenses on a tax-free basis through payroll deductions. This provides up to 40% tax savings for employees.

A commuter benefit plan allows you to:
  • Set aside pre-tax dollars, up to the IRS limits, to pay for eligible mass transit and parking expenses.
  • Change elections.Election changes are not limited by a plan year and can generally be updated monthly. See your employer for the specific process to update your elections.
  • Carry over unused funds.You carry over unused funds from month-to-month. If your needs change or you have built up a balance, you can adjust or even stop your elections while you continue to use your existing balance.

There are two primary commuter benefit accounts—a mass transit account and a parking account. If you have both expenses, you will need to make separate elections for each.

Mass Transit Account

A mass transit account allows participants to set aside funds on a tax-free basis to pay for eligible workplace mass transit expenses.

What are the limits for a mass transit account?

The maximum tax-free election for qualified mass transit, as set by the IRS, is $260/month for 2018 and $255/month for 2017.

What mass transit expenses are eligible under a CBP? Qualified mass transit must (a) occur in a commuter highway vehicle (e.g. bus, train, subway, vanpool) and (b) be used in connection with travel between a residence and place of employment.

Parking Account

A parking account allows participants to set aside funds on a tax-free basis to pay for eligible workplace parking expenses.

What are the limits for a parking account?

The maximum tax-free election for qualified parking expenses, as set by the IRS, is $260/month for 2018 and $255/month for 2017.

What parking expenses are eligible under a CBP? Qualified parking may include either
(a) parking provided to a participant on or near the business premises of the employer or
(b) on or near a location from which the participant commutes to work by mass transit. Parking on or near property used by the participant for residential purposes is not considered an eligible expense.

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What Makes BRI Great?

Technology

BRI owns and manages its own technology which provides increased flexibility and allows it to be more responsive to changes.

Account Expertise

BRI is dedicated to pre-tax account administration which provides a more in-depth perspective and understanding of account needs.

Service Culture

BRI is routinely rated 95% or higher in all service aspects including; professionalism, friendliness and responsiveness.

Contact Information

245 Kenneth Drive
Rochester NY 14623-4277

email: sales@benefitresource.com

phone: (866) 996-5200

fax: (585) 424-7273

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The Beniversal®, eTRAC® and BRilliant Prepaid Mastercard are issued by The Bancorp Bank pursuant to a license by Mastercard International Incorporated. Mastercard is a registered trademark of Mastercard International Incorporated.

The Beniversal Card and eTRAC are accepted at qualified merchants accepting Debit Mastercard. The BRilliant Card is a general purpose card accepted at all merchants accepting Debit Mastercard.

HSA Custodial Services are provided by a separate financial institution. See your HSA Account Agreement for specific account terms.

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