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Limits for employer sponsored FSA (1 viewing)

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TOPIC: Limits for employer sponsored FSA

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#233

smanning (User)

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Posts: 3

FSA contribution limit ? 2006/09/25 11:52	Karma: 0
If both parents are working and employer sponsors FSA for both, can both parents contribute 5K each in their employer sponsored FSA ?.

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#234

Eaglehawk (User)

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Posts: 4

FSA contribution 5K limit is per return ? 2006/09/25 15:59	Karma: 0
I think the limit is per return, unless I am wrong. Did you check with irs site ?

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#235

taxhelpaid (User)

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Posts: 13

Limits for employer sponsored FSA 2006/10/05 08:52	Karma: 0
There is no upper limit for the contributions to a FSA from IRS point of view. There could be limits set by the plan administrator or by the employer. Both parents can contribute what ever amount is allowed by their plan. BUT Remember the FSA is "Use-it-or-lose it". If you don't use the money you contributed by the year end, you will lose. Your employer can't refund the amount to you.

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