What is a run-out period?
Account funds generally expire after a specified period, as determined by your employer.
However, your employer may offer a run-out period, which gives you extra time to submit claims for expenses incurred during a previous period, even after it has ended. Please note that claims are based on the receipt date, so make sure to enter receipts within the eligible period for your run-out.
You can review your account history to check the remaining balance at the end of a given period. See the screenshot below. In this example, the balance remaining at year-end was $498.50.
Not all accounts have a run-out period, check your company's program policy for more information.
Example:
Your Forma account resets annually and your company offers a 30-day run-out period. On January 1, your $498.50 account balance from the previous year expires.
On January 20 (or any day prior to January 30), you file a claim for a $100 expense incurred during the previous year. If the claim is approved, it will use last year’s balance instead of the new balance from this year.
How do I file a claim during a run-out period?
Follow the standard claim submission process. For more information, see How do I submit an employer-sponsored claim for reimbursement?
As long as you’re filing the claim during the run-out period, Forma will automatically use the balance from the previous period.