IRS Section 125 Qualifying Event Checklist
IRS Section 125 Qualifying Event Checklist
General Items
- Communicate qualifying events to employees promptly
- Ensure compliance with IRS regulations regarding qualifying events
- Maintain records of all qualifying events for audit purposes
Employee-Related Events
- Review employee status change (e.g., full-time to part-time)
- Identify changes in employee marital status (marriage, divorce)
- Assess changes in dependent status (birth, adoption, loss of dependent)
Employer-Related Events
- Document changes in employer-sponsored health plans
- Verify changes in costs or coverage of existing benefits
- Confirm changes in employee eligibility for benefits
Other Qualifying Events
- Determine if there are changes in work location affecting benefits
- Identify significant changes in employment (e.g., termination, layoffs)
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