Can an employer take their contributions made in error out of an HSA?
"The IRS states that HSAs are non-forfeitable. Therefore, as the custodian, UMB requires written accountholder authorization to remove funds/contributions from their HSA. There are only two exceptions when UMB can return money directly to the employer.
- The accountholder was never eligible for an HSA.
- The funds put their HSA into an excess contribution scenario (more than the family maximum, plus catch-up)."
Introducing UMB HSA Saver
UMB HSA Saver is a unique investment platform designed with ease in mind. Account holders can easily research, buy and sell funds with a couple clicks.
HSA FAQ Resource
Find answers to your most common HSA questions in our comprehensive HSA FAQs section.