What is an inventory information approval system?
The Inventory Information Approval System (IIAS) standard is an IRS-approved inventory management standard that allows merchants such as grocery and drug stores to automatically identify whether a particular product in their inventory is an FSA- or HRA-eligible expense. When an employee uses a payment card (such as the Zenefits Card) card at one of these merchants, the IIAS allows the card's processing system to determine which item is eligible, and automatically approves ("autosubstantiates") or declines the purchase of that item with FSA or HRA funds.
Purchases made with an FSA or HRA card that are not already identified by an IIAS, or at a merchant that has not implemented an IIAS, may require manual substantiation by the cardholder.
Thank you for the feedback!