Laura Browne
Aug 23 2001, 02:50 PM
How long do cafeteria plan records need to be retained?
Paul
Aug 24 2001, 09:47 AM
The short and conservative answer is 7 years. Back taxes can assessed 3 years after the return is filed unless there was a 25% or more ommission from gross income, then the statute of limitation is 6 years. In addition, the statute of limitation is generally 6 years and they underlying benefits (e.g. the health plan) would be subject to ERISA.
So again, the best answer is 7 years.
Kirk Maldonado
Aug 24 2001, 02:43 PM
What about ERISA's records retension rules?