Overview

  • Contribute up to $5,000 a year for your qualified dependent care expenses like day care, before‐ and after‐school care of children under 13, as well as adult daycare of tax dependents. For a complete list of eligible expenses, go to IRS Publication 503.
  • You can access your funds up to the available balance once services are rendered. You can only get the money out that you’ve put into the account as of the day you submit the claim.
  • Unused money does not carry over at the end of each year — use it or lose it.

Key things to know

  • Your plan year begins January 1 and ends December 31.
  • Each pay period, your account contributions will be automatically deducted from your paycheck (tax-free) and deposited into your Dependent Care FSA.
  • Expenses incurred prior to the effective date of your participation in the FSA are not eligible for reimbursement from the FSA.
  • You will forfeit your remaining balance in the FSA after March 31.