Do HSA administration and account fees count toward the maximum annual contribution limit?
If such fees are paid directly to your HSA trustee or custodian by you or your employer, the fees are not considered contributions to your HSA and do not count toward the maximum annual contribution limit. If, instead, you authorize your HSA trustee or custodian to withdraw payment for such fees from your HSA, the amount withdrawn does not increase the maximum annual contribution limit. For example, if your maximum annual contribution limit is $3,000 and a $50 administration fee is withdrawn from your HSA, your annual contribution limit remains at $3,000. It does not increase to $3,050.
If such fees are paid directly to your HSA trustee or custodian by you or your employer, the fees are not considered contributions to your HSA and do not count toward the maximum annual contribution limit. If, instead, you authorize your HSA trustee or custodian to withdraw payment for such fees from your HSA, the amount withdrawn does not increase the maximum annual contribution limit. For example, if your maximum annual contribution limit is $2,000 and a $50 administration fee is withdrawn from your HSA, your annual contribution limit remains at $2,000. It does not increase to $2,050.
Related Questions
- If administration and account maintenance fees are withdrawn from the HSA, does the withdrawn amount increase the maximum annual HSA contribution limit?
- Do HSA administration and account fees count toward the maximum annual contribution limit?
- Is there any maximum age limit for making further contribution to NPS Tier I Account?
