Moving Allowance

Objective #

The purpose of this policy is to provide guidelines for the payment of moving expenses for newly hired University of Tennessee Foundation (UTFI) employees. 

Policy #

General Policies  #

UTFI may provide a moving allowance for a newly hired employee to move from his or her former residence to his or her new residence. The designated amount for relocation for the employee will be determined by the current location to destination mileage, household goods volume and other moving variables deemed appropriate to a relocation for work as well as  applicable taxes. To comply with guidelines published by the Internal Revenue Service, the new workplace must be at least 50 miles further from the employee’s former residence than the former workplace was. For example, if the former workplace location was 3 miles from the former home, then the new workplace must be at least 53 miles from that former home. Any moving allowance should be included in the offer of employment to the new employee. 

The request for and amount of the moving allowance should be included in the offer letter. Refer to TM0013 Recruiting. 

To initiate payment of an approved moving allowance, use the Moving Expense Form. The approved departmental request for the allowance must be attached to the Request for Special Payment. The request and payment can be processed upon receipt of the new employee’s signed letter of employment. 

The moving allowance will be reported as taxable income on Internal Revenue Service (IRS) Form 1099. The individual receiving the allowance will be responsible for documenting expenses on their  federal tax return as required by IRS Publication 521 – Moving Expenses. 

History of Revision #

Updated: June 15, 2022