A Commuter Benefit Account (CBA) is a tax-free benefit plan offered by an employer, where the participant/employee sets aside money to pay for eligible mass transit/parking expenses.
A participant/employee must work for an employer that offers a CBA.
The participant/employee does not pay taxes on any money put into a CBA.
Yes. The annual CBA contribution limits are as follows for 2020:
- Mass Transit: $3240 ($270 per month)
- Parking: $3240 ($270 per month)
Eligible mass transit/parking expenses are governed by IRS Publication 15-B. Eligible expenses include but are not limited to:
- Parking meters.
- parking garages.
- MTA MetroCard.
- Ferry passes.
- Van pools.
- Bus passes.
- Ridesharing services such as Lyft Line or UberPool.
Funds in a CBA do not expire and will continue to rollover month to month, year to year. If a participant/employer leaves his/her employer, he/she will be able to spend any remaining CBA funds.
There is no PIN. Enter your ZIP code if requested.