This content in this section is meant to help employers learn about our TRA plans and includes helpful forms and resources necessary to support groups through onboarding, enrollment, and beyond.
Frequently Asked Questions
- What expenses are eligible from a Qualified Parking Account?
- Parking provided to an employee must be near work or near a commuter site. Can include multiple-occupancy vehicles such as cars, vans, and trucks or single-occupancy vehicles, such as motorcycles.
- What expenses are eligible from a Vanpool Account?
- Transportation between the employee’s residence and place of employment, but only if it is done in a “commuter highway vehicle.”
- Van must have a capacity of six (6) adults, not including the driver
- Van must use at least 80% of the mileage for the year for the purpose of transporting employees
- Van must be used for transporting people to places of employment
- Half of the seats, not including the driver need to be filled
- What types of transit passes are eligible for payment from the transportation account?
- Any pass, token, fare card, voucher, or similar item that entitles a person to transportation on mass transit facilities or provided by any person in the business of transporting persons for compensation or hire if provided in a highway vehicle with a seating capacity of at least six adults (excluding the driver) as defined by the IRS.
- What happens to unused funds in a transportation account?
- The money left in your employees' account at the end of the year may be carried over into the next year as long as your employees continue to participate in the plan.
- Is there a time limit for submitting claims for the Parking Cash Reimbursement Option?
- Yes. The IRS has put a time limit on claim submissions of six (6) months from the date the expense is incurred. This means if you have a transportation expense in January, SelectAccount must receive the claim by July of that year to reimburse you from your transportation account.