2020 HSA Contribution Deadline Extended to May 17th

2020 HSA Contribution Deadline Extended to May 17th

In a recent order the IRS has extended the 2020 HSA contribution deadline to May 17th.  The extension is applicable to after-tax HSA contributions, not pre-tax contributions through payroll deductions.

In order to contribute into your HSA on a pre-tax basis through payroll, the IRS requires an employer to have a Section 125 Premium Only Plan Document.  For more information, your Business Benefits advisor is happy to assist.

If you have further questions of how to document your after-tax HSA contributions on your personal tax return, contact your tax advisor . For more details from the IRS click here .