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NEW GUIDANCE SETS MARCH 15 DEADLINE FOR ROLLOVERS OF 2006 FLEX PLAN BALANCES TO HSAs

February 16, 2007

The tax act passed at the end of the last Congress allows taxpayers to roll some heath care flex-plan balances into Health Savings Accounts. The IRS yesterday issued rules (Notice 2007-22) for these rollovers. For rollovers from amounts in flex-plans at the end of 2006, the balances can go into HSAs if the employer amends the flex plan to allow the rollovers by March 15, 2007.

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