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Commuter Benefit Funds: Basic Information

Here are some quick tips on how to use the funds in a commuter benefits account: 

Post-employment: Commuter benefits are terminated on an employee's last day of employment. They'll have 90 days to submit a Gusto Benefits Card claim for services incurred while the policy was active. Claims can be submitted for out-of-pocket transit expenses only if the first attempt was made with the Gusto Benefits Card and the transaction was denied. Any unused funds will be foreited back to the company, which is a regulation set in place by the section Section 1.132-9(b) Q&A 14(d) of this IRS document.

Transferring funds between accounts: Funds can't be transferred. Parking accounts are for parking, transit accounts are for transit, and the funds cannot be transferred between the two. 

Unused funds: The money will roll-over month over month and accumulate, but you can only spend a maximum of $260 per month—even if the account exceeds that amount. Any funds left over after the policy is terminated or the employee leaves the company will expire after 90 days of the termination date.

Click here to use your Gusto Benefits Card Manager account to view transactions, balances, submit claims, and more.