In an era of cost-cutting and tight relocation budgets, TRC assures clients of transparency and total control over their employee relocation costs. Our specialists have deep knowledge of relocation accounting, processing alternatives and IRS regulations. We ensure each client’s program remains in compliance, executing all financial transactions accurately and providing complete reporting.
Relocation Expense Administration
TRC offers complete Relocation Expense Administration services, including expense report processing, lump sum disbursements and direct payments. The Relocation Counselor performs an initial audit of expenses and sends an automated payment request to TRC’s finance department. There, the expenses receive a second audit against client policy and payment is issued. The employee is typically reimbursed within one to two business days.
Our financial system tracks all expenses, sorting them into income and non-income categories, and further sorting income expenses into deductible and non-deductible expenses. This facilitates accurate gross-up calculations. At year end, we provide complete tax reporting to the client and each transferee.
Relocation Tax & Accounting Services
TRC establishes a gross-up methodology and processing schedule to meet each client’s needs.
Our experts use TRC’s SMART technology and comprehensive reporting to help clients develop an appropriate mobility program budget and monitor program costs. Clients can also access a Custom Budget Estimator tool within their secure SMART client site. Using this tool, you simply enter policy benefit parameters in the appropriate cells and the program automatically calculates the projected cost of the relocation, based on your company’s previous experience or national averages.
Lump Sum Administration
TRC has found that lump sums can simplify the expense process, reduce costs and promote meaningful involvement of the employee in the relocation process. We will work with your company to customize a lump sum program to suit your budget and culture. In addition to administering lump sums for our clients, we also fund miscellaneous relocation allowances.
Relocation Debit Card
Working with our preferred banking partners or your company’s preferred partner, TRC can make relocation debit cards available to your transferees. This card would be pre-loaded with the approved allowance or lump-sum amount, eliminating the need for cash advances and checks, streamlining administration and increasing control.