Tax-Advantaged Accounts: Which Documents Do You Need to Complete?

The October 1 deadline is approaching for sending required tax-advantaged plan-related documents to Cooperative Benefit Administrators (CBA). Because plan choices vary among cooperatives, sorting out exactly which documents you need to send, which you should keep, and which you don’t need can be confusing.

Please refer to the table below to confirm what your co-op needs to do—if anything—by October 1 for each subgroup:

For 125 Plans

If your co-op is…	Send to CBA by October 1	Keep or distribute at your co-op
Not making any changes to its 125 plan	Completed 125 Plan Payroll and Funding Information Form 2016 Payroll calendar	N/A
Changing its bank information or payroll frequency	Completed 125 Plan Payroll and Funding Information Form with banking information changes 2016 Payroll calendar	N/A
Adopting the new $2,550 health FSA participant contribution limit	Completed 125 Plan Payroll and Funding Information Form 2016 Payroll calendar	Executed Board Resolution* 125 Plan Amendment 125 Plan Summary of Material Modification (SMM) (distribute to participants)
Adopting the health FSA carryover feature	Completed 125 Plan Payroll and Funding Information Form 2016 Payroll calendar Amended 125 Plan Adoption Agreement	Executed Board Resolution* 125 Plan Amendment 125 Plan SMM (distribute to participants)
Adopting a new 125 plan (Refer to the Checklist for Adoption of the CBA-Administered 125 Plan)	Completed 125 Plan Adoption Agreement Executed 125 Plan Administrative Services Agreement Completed 125 Plan Payroll and Funding Information Form 2016 Payroll calendar	Executed Board Resolution* 125 Plan Document 125 Plan SPD and appendices 125 Plan Summary of Benefits and Coverage (SBC)

* If required by your co-op

For Health Reimbursement Accounts (HRAs)

If your co-op is…	Send to CBA by October 1	Keep or distribute at your co-op
Not making any changes to its HRA plan, bank information or contribution frequency	N/A	N/A
Changing its bank information or contribution frequency	Completed HRA Funding Information Form	N/A
Converting its standard HRA to a deductible HRA plan	Deductible HRA Adoption Agreement	Executed Board Resolution* HRA Plan Amendment SMM (distribute to participants)
Adopting a new HRA plan	Completed HRA Adoption Agreement Executed Administrative Services Agreement Completed HRA Funding Information Form	Executed Board Resolution* HRA Plan Document HRA SPD HRA SBC (Not required for the Retiree HRA Plan)

* If required by your co-op.

 

All of these documents can be found on the Employee Benefits website, under Co-op Insurance > Tax-Advantaged Accounts. Go to the page you need—125 Plan or HRA—and click on 2016 Forms for BAs.

If you have questions about any of the steps required, please call CBA at 866.673.2299, option 1, then 4, or email cba.fsa.hra@nreca.coop.