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Old Dominion University Research Foundation Cafeteria Plan Dependent Care Reimbursement Account Election Form Plan Year 7/1/2019 through 6/30/2020 Employee Name Printed___ UIN___I hereby elect the
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How to fill out dependent care flexible spending
How to fill out dependent care flexible spending
01
Determine your eligible dependent care expenses such as daycare, preschool, before or after school care, and summer day camp.
02
Enroll in your employer's dependent care flexible spending account program during open enrollment or within 30 days of a qualifying life event.
03
Estimate how much you will spend on dependent care expenses for the year and elect a contribution amount to be deducted from your paycheck pre-tax.
04
Keep receipts and documentation of all dependent care expenses for reimbursement.
Who needs dependent care flexible spending?
01
Anyone who has qualifying dependent care expenses and wants to save money on taxes by using pre-tax dollars to pay for those expenses should consider using dependent care flexible spending.
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What is dependent care flexible spending?
Dependent care flexible spending is a benefit offered by employers that allows employees to set aside pre-tax dollars to pay for eligible dependent care expenses.
Who is required to file dependent care flexible spending?
Employees who have dependent care expenses and are enrolled in a dependent care flexible spending account are required to file.
How to fill out dependent care flexible spending?
Employees can fill out dependent care flexible spending by submitting eligible expenses for reimbursement through their employer's designated process.
What is the purpose of dependent care flexible spending?
The purpose of dependent care flexible spending is to help employees save money on eligible dependent care expenses by using pre-tax dollars.
What information must be reported on dependent care flexible spending?
Employees must report expenses related to the care of dependents, such as daycare, after-school programs, and elder care.
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