‘Account Status’ is a required field on the elections file that tells Forma what level of access an employee should have to a given pre-tax account. Using the ‘Account Status’ field properly ensures that Forma does not mistakenly restrict or allow access to an account.
‘Account Status’ paired with ‘Account End Date’ (optional field) allows your team to schedule a specific date to update an account status. If ‘Account End Date’ is not provided, we will use the file processing date to determine the Account End Date.
For more information, refer to the article How do I send employee termination data on pre-tax files?