This may depend on specific guidelines set up by your employer, however, when it comes to submitting expenses, it's always best to do it as soon as possible after making the purchase. As long as you had access to the benefit when you made the initial purchase, you should be able to submit it for reimbursement. For example, if you have an active Lifestyle Spending Account (LSA) for 2023 and you bought gym equipment in February, you can still submit that purchase for reimbursement in May if you forgot to do it earlier.
Make sure to hold onto the receipts for any purchases you plan to expense, as they will be required for approval. If you're not sure what a good receipt looks like, take a look at our guide: What kind of receipt do I need for a reimbursement?
It is also important to watch your benefit expirations! Remember that if you choose to not use these funds by their scheduled expiration, or if you forget, any remaining balances will expire on their scheduled expiration date and cannot be returned.
For more information on submitting expenses for pre-tax benefits, take a look at our other resources in the Pre-Tax Benefits 101 section!
Questions? We are happy to help! Please reach out to Benepass Support for any assistance.