If your organization uses a pre-funded account for post-tax Forma benefits, you'll receive a Prefund Activity Statement each month. This statement provides a summary of the activity in your prefund account during the previous month, making it easier to reconcile funding activity and understand how your employee benefit funds were used.
What is the Prefund Activity Statement?
The Prefund Activity Statement is a monthly summary of activity in your organization's prefund account. It is sent alongside your invoice and reflects activity from the previous calendar month.
The statement includes:
- Post-Tax Prefund Account Balance (Beginning Balance) – The balance in your post-tax prefund account at the beginning of the reporting period.
- Lifestyle Spending Account Spend – The total amount deducted from your prefund account to reimburse eligible expenses via Forma Card and/or Direct Deposit during the reporting period.
- Store Purchases – The total amount deducted from your prefund account for eligible purchases made through the Forma Store.
- Replenishment During the Month – Any funds added to your prefund account during the reporting period.
- Post-Tax Prefund Account Balance (Ending Balance) – The remaining balance in your prefund account at the end of the reporting period.
How does this relate to my invoice?
You'll continue to receive your invoice as you do today.
Your invoice reflects subscription service fees and benefit funding for the Forma Card, Forma Store, and/or Direct Deposit (through Stripe), where applicable.
Together, the Prefund Activity Statement and your invoice provide a complete picture of your organization's benefit funding:
- The Prefund Activity Statement shows how funds moved into and out of your prefund account during the previous month.
- The invoice shows the amount needed to replenish the funds that were used.
Why am I receiving this statement?
The Prefund Activity Statement provides greater visibility into your organization's benefit funding by summarizing monthly account activity in a single document. It can be used to:
- Reconcile prefund account activity.
- Understand how employee spending affects your account balance.
- Verify beginning and ending balances for each reporting period.
- Track deposits made to your prefund account over time.
If you have questions about the information included on your statement, please reach out to your Customer Success contact.