Reimbursement

NMC Accountable Plan

Reimbursement Requests and Payments

It is the policy of the NMC, Inc. (NMC) to reimburse any employee, independent contractor, volunteer, grantee, joint appointee or certain other persons (“Covered Persons”) for approved NMC expenses paid on NMC’s behalf by such Covered Persons from their own personal funds while in pursuit of NMC business.

Reimbursement requests that satisfy ALL the IRS rules for an Accountable Plan listed below are considered non-taxable income and are paid in full via direct deposit or check:

1. The expenses must have a business connection (NMC “business purpose”).
2. The expenses must have been incurred while performing services as a Covered Person, and must benefit the NMC.
3. The expenses must be adequately accounted for within 60 days after they were paid or incurred.
4. Any excess reimbursement or allowance must be returned within 120 days after the expense was paid or incurred.

For more details, see the NMC Accountable Plan.

Reimbursement requests that do not satisfy ALL the IRS rules for an Accountable Plan listed above and exceed $600 per calendar year will be  considered taxable income and paid via payroll and included in form W2 (employees) or reported to IRS on Form 1099 (non-employees; payees will receive their copies of Form 1099 by January 31).

Reimbursement Request Form

Use this form to request reimbursements and submit receipts and copies of all required prior approvals.

For instructions on travel reimbursement, refer to the NMC Travel Reimbursement Policy.

All purchases must be pre-approved by your supervisor or the project PI. Please attach the approval email to your reimbursement request.