dependent care FSA maximum exceeded -- what happens?

Question

I recently started a new job at an employer and signed up for their Dependent care FSA.  I was told by the plan administrator that I could contribute up to $5K to the plan by the year end.  At my previous employer this year, I also had a dependent care FSA in which I contributed $3100 prior to leaving.  So, at the new employer, can I contribute the full $5000 or just $1900?  If I end contributing more than $5000 in a tax year, what happens to the amount over $5000?  Is it treated as taxable income?

I am trying to get my new employer to cancel my contributions, but just want to know the consequences.

ninasgramma · Accepted Answer

You can contribute a total of $5,000 per year.  If you are married, the total for both you and your spouse cannot exceed $5,000 per year.

If you contribute more than $1,900 you will either forfeit the benefits or they will be taxable to you.  Your second employer will not know that you have gone over the limit, so best not to go over the limit and risk losing money.

ackerley · Answer

the way the question is phrased and the solutions might choose some clarification or updating. The question, as I study it, asks if married couples submitting collectively can each make a contribution the utmost to a healthcare FSA, as they can't for based care FSA. i've got self belief for a Healthcare FSA, the respond is certain, each worker could make a contribution the utmost--for 2017 calendar 365 days it is $2600, or $5200 mixed.

Anonymous · Answer

I think $5K is the maximum you can put in.  I think if it's like running dependent care through the cafeteria plan you have to turn in receipts to get your money back.  If you left the company, wouldn't you lose the money you put in?

As far as putting in more than the $5K, I don't think you can put more than that in.

LeXy · Answer

sry i don't know anything about that

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dependent care FSA maximum exceeded -- what happens?

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