Qualified Transportation Plans 07.24.2024Versión en línea Section 132(f) por Wednesday Wisdom 1 If an employee is involuntarily terminated, an employer can return unspent commuter benefits as taxable income upon termination. Yes No 2 A terminated employee can continue to use unspent commuter funds upon termination if they elect COBRA. Yes No 3 There is a federal requirement for an employer to offer qualified transportation fringe benefits (aka commuter benefits). Yes No 4 Employers who offer a qualified transportation plan must provide employees with a Summary Plan Description (SPD) about their commuter benefits. Yes No 5 An employer with a fully remote workforce is never required to offer commuter benefits. Yes No 6 There are 3 forms of qualified transportation fringe benefits under IRC §132(f): transit passes, commuter highway vehicle (vanpooling) & qualified parking. Yes No 7 All employees, regardless of full-time or part-time status are generally eligible to participate in a commuter benefits program. Yes No 8 Upon termination an employee can submit qualified commuter benefit expenses incurred during active employment for the employer-defined run-out period. Yes No 9 Once an employee enrolls in commuter benefits, elections are irrevocable for the plan year unless they experience a permitted election change event. Yes No
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