What are “Qualified Transportation Accounts” or “QTAs”?
Also known as Transportation Fringe Benefit Plans and Commuter Benefits, Section 132(f)(4) of the Internal Revenue Code allows you to pay for your qualified parking and/or mass transit commuting expenses on a pre-tax basis.
How much money can I elect to set aside on a pre-tax basis?
For 2020, you can elect up to $270 per month for parking and $270 per month for mass transit (bus/train passes, vanpool, etc.) costs. You could reduce your taxable income up to $540 per month!
What expenses are eligible for reimbursement?
- Qualified Parking is defined by the IRS as:
- Out-of-pocket parking costs at or near your employer, or;
- Parking at a location from which you commute to work by mass transit, commuter highway vehicle or carpool (e.g. the cost of a parking lot at a train station so you can continue your commute via train, bus or carpool).
- Mass Transit is defined by the IRS as:
- Transportation in a commuter highway vehicle in connection with travel between your residence and place of employment, or;
- Any transit pass (token, fare card, voucher) purchased for travel between your residence and place of employment.
May I be reimbursed for tolls, mileage, taxis, or fuel?
How about personal or business travel expenses? No. Only qualified expenses for workplace parking or transit as described above are eligible.
How do I enroll in the plan?
You may enroll in a QTA prior to the start of any month. Please check with your employer for any special instructions or limitations to enrollment. You will need to designate an amount for transit expenses and a separate amount for parking expenses. Separate reimbursement accounts are maintained for each category, and funds cannot be commingled or transferred between accounts.
I’ve received my GDI Debit card. How does it work for my QTA expenses?
Your Qualified Transportation Account payroll deductions are loaded onto the card. The card is used to purchase qualified parking and/or mass transit services. The necessary funds for each transaction are deducted directly from your account(s). Purchases are limited by your available transit and/or parking account balance.
Can I start using my card immediately?
Funds are available on the card after your payroll deductions are posted to your account(s).
I already use the card for my Medical FSA. Will I need another card for my QTA benefits?
Your card can be used to access all of your pre-tax accounts. You will not receive a separate card for your QTA benefit(s).
Do I select “debit” or “credit” at the point of purchase?
If you haven’t established a PIN for your card, select “credit” at the point of sale.
How are my QTA expenses substantiated?
QTA transactions are automatically substantiated at the point of purchase through the technology built into the card.
I didn’t use my card for my last purchase. How can I claim reimbursement?
IRS regulations prohibit us from reimbursing you for transit expenses not paid for with your card. As a result, you may need to adjust your monthly election for the missed transaction. If the purchase was for parking, you may submit a request for reimbursement in one of two ways:
- Click on the Log In button at the top of this screen
- Click here for the Parking Reimbursement Request
May I change my contribution amount(s)?
If your parking and/or transit costs change during the year, you may make a subsequent change to your election(s) on a monthly basis. All changes must be made on a prospective basis only.
Can I still use the card after my employment ends?
Your card will no longer function once your termination of employment has been processed. You may submit receipts for any unreimbursed parking expenses, incurred while you were employed, within your plan’s run-out period. Unreimbursed transit expenses are not eligible for reimbursement.
If I lose my card, or if it is stolen, who should I contact?
If your card is lost or stolen, please notify GDI’s Reimbursement Team at 800-626-3539 immediately.
Will I receive a new debit card each year?
Your card lasts for 3 years, so you will not receive a new card until the expiration date of your current card.
What is the time frame for requesting reimbursement?
IRS regulations indicate that requests must be received within 180 days of the date of service. If you revoke your election and remain eligible to participate, you may continue to use the card in order to exhaust the balance in your transit and/or parking account. Upon termination of employment, your card will be deactivated. You may submit receipts, for any unreimbursed parking expenses incurred while you were employed, within your plan’s run-out period.
How can I check the balance in my account(s)?
Click on the Log In button at the top of this screen