Indiana University is changing their policy around P-Card reconciliations and out-of-pocket reimbursements to be in line with IRS guidelines under that Accountable plan. Beginning January 1st, all transactions must be reconciled within 60 days of the transaction (formally 120 days) otherwise the transaction will be taxable to the expense owner. In addition, transactions will no longer be eligible for reimbursement after 120 days (formally 365 days). The expense owner is defined as the traveler (travel) or purchase initiator (purchases). If your department uses a department P-Card, it is imperative records are kept for who uses the card.
The counter for the number of days will begin for travel on the last day of the travel and for purchases on the date of purchase. P-Card services will begin sending monthly noncompliance reports to card holders exceeding the threshold in October; however, the policy will not be in effect until January 2nd.
Beginning July 1st, 2026, users that repeatedly exceed the thresholds can potentially have their P-Card suspended or canceled.