What could happen if my old company won’t stop PUTTING MONEY IN my transit account?
Sally M asked:
I left a company 14 months ago. I was signed up for a transit savings account (like the health care savings account). I have repeatedly called trying to get them to stop putting money in the account. Since they are putting money, I cannot have my new company put money in (only one company can). I got them to stop for a couple of months, but they started up again. I am afraid that they are going to come after me and make me pay back in after tax dollars. How can I get them to stop? I am using the money because I do not want this old company to make me lose my tax savings. I am more than willing to pay back the money with before tax money, but if it is years later, will that be possible? Hard to believe that a MAJOR bank can be so screwed up that they do not know who works there and who they are paying benefits to.
Fransisca Milanese
I left a company 14 months ago. I was signed up for a transit savings account (like the health care savings account). I have repeatedly called trying to get them to stop putting money in the account. Since they are putting money, I cannot have my new company put money in (only one company can). I got them to stop for a couple of months, but they started up again. I am afraid that they are going to come after me and make me pay back in after tax dollars. How can I get them to stop? I am using the money because I do not want this old company to make me lose my tax savings. I am more than willing to pay back the money with before tax money, but if it is years later, will that be possible? Hard to believe that a MAJOR bank can be so screwed up that they do not know who works there and who they are paying benefits to.
Fransisca Milanese
it would danmage it.
Contact the IRS and I’m sure they will take care of it for you!
Ultimately you would be held responsible for repayment of any money taken from the account. I would write a letter to the company and the bank via registered mail and threaten legal action. That should put a stop to it.
In a legal sense your potential liability ended when you informed them of the problem and asked them to cease and desist – to stop it you need to inform the account holder ( in writing ) that those payments are no longer accepted by you
You should take this up with the human resources or payroll department of your old company. Did you fill out paperwork to stop payments into your account? If so, call them again and remind them that they are losing money on you since you’re not a current employee! That ought to make them act fast…er. Good luck.
I think you should sue for double the money. They are causing you stress.