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3125 Airport Parkway, Cambridge, MN 55008 Metro: 763-552-6053 Toll Free: 888-507-6053 Fax: 763-552-6055 www.ebcsolutions.com A division of Educators Financial Services, Inc. Section 125 Flexible Benefits
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How to fill out section 125 form:

01
Begin by obtaining the section 125 form from your employer or human resources department. It may also be available for download on the company's website.
02
Read the instructions carefully to understand the purpose and requirements of the form.
03
Provide your personal information, including your name, address, Social Security number, and any other required identification details.
04
Indicate your employment information, including your job title, department, and start date.
05
Review the available options for section 125 benefits, such as health insurance, flexible spending accounts, or dependent care assistance.
06
Select the benefits you wish to enroll in or make changes to, and indicate the corresponding coverage or contribution amounts.
07
If applicable, provide any additional information or documentation required for specific benefits, such as dependent verification documentation for dependent care assistance.
08
Sign and date the form to certify that the information provided is true and accurate.
09
Submit the completed form to your employer or human resources department, following any specific submission instructions provided.

Who needs section 125 form:

01
Employees who wish to enroll in or make changes to their section 125 benefits need to complete the section 125 form.
02
Employers offering section 125 benefits to their employees may require them to fill out this form as part of the enrollment or re-enrollment process.
03
Those looking to take advantage of tax-saving opportunities through flexible spending accounts or other section 125 benefit options should also complete this form.
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Section 125 refers to a part of the Internal Revenue Code that allows employees to set aside a portion of their pre-tax income to pay for certain benefits, such as health insurance or dependent care expenses, thereby reducing their taxable income.
Employers who offer a cafeteria plan or flexible benefit plan under section 125 are required to file section 125. Employees do not file section 125 directly; rather, they benefit from the provisions provided by their employer's plan.
Filling out section 125 usually involves completing a benefits enrollment form provided by the employer. Employees need to choose how much of their salary to allocate to pre-tax benefits, select the benefits they wish to enroll in, and submit the form by the employer's deadline.
The purpose of section 125 is to provide tax advantages for employees and employers by allowing employees to pay for qualified benefits on a pre-tax basis, thus lowering their taxable income and overall tax burden.
Employers must report information such as the total amount of benefits offered, the amounts elected by employees, and any contributions made by the employer under the cafeteria plan, as well as compliance with specific IRS requirements.
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