News & Press: Regulation

ECFC Submits Comments to Treasury Department on Modification of the FSA Carryover Rule

Friday, November 1, 2019   (0 Comments)
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President Trump issued an Executive Order in June, which included a directive that the Treasury Department review the FSA carryover rules to determine whether the rules could be modified to allow a carryover amount greater than the current $500 limitation.  After reviewing the issues with members of the GR&I Committee, ECFC sent comments to the Treasury Department today regarding the proposed modification.  ECFC advocated for an increase of the carryover amount to the annual limitation for FSA contributions.  We also cautioned the Treasury Department against making any modifications that would be administratively complex and asked for transition relief if the proposed guidance was issued before the end of 2019.
 
Please contact me if you have any questions about the letter. (Download a copy here.)

William F. Sweetnam, Jr
Legislative and Technical Director
Employers Council on Flexible Compensation -- ECFC