Eligible Dependent Care Expenses definition

Eligible Dependent Care Expenses. (for purposes of this Section IX) shall mean expenses incurred by a Participant which are: (i) incurred for the care of a Dependent of the Participant or for related household services; (ii) paid or payable to a Dependent Care Service Provider; and (iii) incurred to enable the Participant to be gainfully employed for any period for which there are one or more Dependents with respect to the Participant. "Eligible Dependent Care Expenses" shall not include expenses incurred for services outside the Participant's household for the care of a Dependent unless such Dependent is (i) a qualifying child (as defined in Code Section 152 (c)) under the age of 13, or (ii) a dependent (qualifying child or qualifying relative, as defined in Code Section 152 (c) and (d), respectively)), who is physically or mentally incapable of self-care, and who has the same principal place of abode as the Participant for more than half of the taxable year, or (iii) the spouse of a Participant who is physically or mentally incapable of self-care, and who has the same principal place of abode as the Participant for more than half of the taxable year. Eligible Dependent Care Expenses shall be deemed to be incurred at the time the services to which the expenses relate are rendered.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Eligible Dependent Care Expenses means those expenses that would be considered to be employment-related expenses under Section 21(b)(2) of the Code (relating to expenses for household and dependent care services necessary for gainful employment) if paid for by the Employee to provide Qualifying Services other than amounts paid to:

Eligible Dependent Care Expenses shall not include expenses incurred for services outside the Participant’s household for the care of a Dependent unless such Dependent is (i) a qualifying child (as defined in Code Section 152(c)) under the age of 13, or (ii) a Dependent (qualifying child or qualifying relative, as defined in Code Section 152(c) and (d), respectively)), who is physically or mentally incapable of self-care, who has the same principal place of abode as the Participant for more than half of the taxable year, and who regularly spends at least eight hours each day in the Participant’s household, or (iii) the spouse of a Participant who is physically or mentally incapable of self-care, who has the same principal place of abode as the Participant for more than half of the taxable year, and who regularly spends at least eight hours each day in the Participant’s household. Eligible Dependent Care Expenses shall be deemed to be incurred at the time the services to which the expenses relate are rendered.

Examples of Eligible 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.
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.
Claims for reimbursement of Eligible Dependent Care Expenses must be submitted no later than the last day of the third month following the last day of the Plan Year during which the Eligible Dependent Care Expenses were incurred.
Claims for reimbursement of Eligible Dependent Care Expenses must be submitted no later than the ninetieth (90th) day following the last day of the Plan Year during which the Eligible Dependent Care Expenses were incurred.
Each Dependent Day Care Flexible Spending Account Participant will be entitled to receive, for each Plan Year, reimbursement of Eligible Dependent Care Expenses that are incurred during the Plan Year up to the dollar amount of coverage elected by the Dependent Day Care Flexible Spending Account Participant for that Plan Year.
A Participant who terminates employment with the Employer during a Plan Year shall be entitled to reimbursement for Eligible Dependent Care Expenses incurred during the remainder of the 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 Participant’s participation during the Plan Year shall be forfeited and shall remain assets of the Plan.
The 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.

More Definitions of Eligible Dependent Care Expenses

Eligible Dependent Care Expenses. (for purposes of this Article VI) means expenses incurred by a Participant that are: (i) incurred for the care of a Dependent of the Participant or for related household services; (ii) paid or payable to a Dependent Care Service Provider; and (iii) incurred to enable the Participant to be gainfully employed for any period for which there are one or more Dependents with respect to the Participant.

Eligible Dependent Care Expenses. (for purpose of this Section IX) shall mean expenses incurred by a Participant which are: (i) incurred for the care of a Dependent of the Participant or for related household services; (ii) paid or payable to a Dependent Care Service Provider; and (iii) incurred to enable the Participant to be gainfully employed for any period for which there are one or more Dependents with respect to the Participant. “Eligible Dependent Care Expenses” shall not include expenses incurred for service outside the Participant’s household for the care of a Dependent unless such Dependent is (i) a dependent child under the age of 13, or (ii) regularly spends at least eight hours each day in the Participant’s household. Eligible Dependent Care Expenses shall be deemed to be incurred at the time the services to which the expenses relate are rendered.

Eligible Dependent Care Expenses means expenses for qualifying dependent care services incurred by the participant or the participant's spouse, or the cost of sending a child of the participant to a qualified day care center or qualified caregiver.]