Dependent Care Expenses definition

Dependent Care Expenses means employment-related expenses incurred on behalf of a person who meets the requirements to be a "Qualifying Individual," as defined in the first bulleted item below. All of the following conditions must be met for such expenses to qualify as Dependent Care Expenses that are eligible for reimbursement:

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Dependent Care Expenses means expenses Incurred to enable the Participant and the Participant's Spouse, if applicable, to be gainfully employed for any period during which there are one or more Qualifying Individuals with respect to the Participant, including expenses for household services and expenses for the care of a Qualifying Individual, determined pursuant to Code Section 129 and the regulations thereunder. The term "Dependent Care Expenses" shall not include:

Dependent Care Expenses means expenses Incurred to enable the Participant and the Participant's Spouse, if applicable, to be gainfully employed for any period during which there are one or more Qualifying Individuals with respect to the Participant, including expenses for

Examples of Dependent Care Expenses in a sentence

• The Reimbursement Recordkeeper shall maintain a record of each account on an on-going basis, increasing the balances as contributions are credited during the year and decreasing the balances as Eligible Dependent Care Expenses are reimbursed.

• Each Participant will be entitled to receive for each Plan Year reimbursement of Qualifying Dependent Care Expenses which are incurred during the Plan Year for which a dependent care tax credit is not taken on the Participant's income tax return, up to the dollar amount of coverage elected by the Participant for that Plan Year.

• Any amounts remaining to the credit of the Participant at the end of the Plan Year and not used for Eligible Dependent Care Expenses incurred during the Plan Year shall be forfeited and remain assets of the Plan.

• In addition, no more than 25 percent of the aggregate Eligible Dependent Care Expenses shall be reimbursed during a Plan Year to five percent owners, as provided in Code Section 129.

• Bargaining-unit members are eligible to participate in a program of Flexible Spending Accounts for Reimbursement of Medical Care Expenses and Dependent Care Expenses.

More Definitions of Dependent Care Expenses

Dependent Care Expenses means a Participant’s incurred expenses which (a) are incurred for the care of a Qualifying Individual, (b) are paid or payable to a Dependent Care Service Provider, and

Dependent Care Expenses means expenses incurred by a participant which are incurred for the care of a dependent of the participant or for related household services, and are eligible expenses as allowed under and defined in the prevailing Internal Revenue Code and rules promulgated thereunder and as allowed by the Plan Administrator.

Dependent Care Expenses means expenses that are considered to be employment- related expenses under Code § 21 (b )(2) (relating to expenses for household and dependent care services necessary for gainful employment of the Employee and Spouse, if any), if paid for by the Employee to provide Qualifying Dependent Care Services.

Dependent Care Expenses means employment-related expenses incurred on behalf of a person who meets the requirements to be a “Qualifying Individual,” as defined in the first

Dependent Care Expenses means expenses for Dependent Care Services and Household Services which are necessary for the Participant to be gainfully employed.

Dependent Care Expenses means expenses considered to be Employment-Related Expenses under Code 21 (b)(2) (relating to expenses for household and Dependent care services necessary for gainful employment of the Participant and Spouse, if any), if paid for by the Participant to provide Qualifying Dependent Care Services as defined by the Internal Revenue Publication 503.

Dependent Care Expenses means expenses necessary for you to be gainfully employed that are incurred on behalf of any Dependent who meets the requirements to be a Qualifying Individual. Please refer to the Plan Document for more information.