policy template · Free download
Travel & Expense Policy Template (with Company Credit Card Policy)
Travel and expense policy with 2026 GSA per diem and IRS mileage rates, a company credit card policy, approval matrix, receipt rules and worked examples.
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What you get
- Complete policy text for booking, class of travel, lodging, meals, per diem and ground transport
- 2026 rates with sources: GSA standard CONUS per diem and the two IRS business mileage rates
- A full company credit card policy: eligibility, permitted and prohibited use, receipts, reconciliation, lost cards and cancellation at exit
- Accountable plan rules (26 CFR 1.62-2) and the IRS $75 receipt rule written into the policy
- An approval matrix and five worked scenarios with the arithmetic shown
Template preview
A preview of the structure. Download the PDF or CSV for the complete, ready-to-use version.
Policy details
- Company name
- Effective date
- Policy owner— e.g. Controller or VP Finance
- Travel booking tool or agency— name and link
1. Purpose and scope
This policy sets the rules for business travel and business expenses paid by or reimbursed by [Company name]. It applies to all employees, interns and anyone traveling at the company's expense, including executives. [Company name] reimburses ordinary and necessary business expenses under an accountable plan as defined in 26 CFR 1.62-2. That means every expense must have a business purpose, must be substantiated with the records described in section 10, and any advance or allowance above substantiated expenses must be returned. Reimbursements that follow these rules are not taxable wages. Amounts that do not follow them are reported as taxable wages. Spend company money as you would your own. When this policy does not cover a situation, ask [Policy owner] before you spend.
2. Approval matrix
Nobody approves their own travel or expenses. Approvals are made in [expense system] before booking, except where noted.
| Request | Approver | When |
|---|---|---|
| Domestic trip, estimated total under $[1,500] | Direct manager | Before booking |
| Domestic trip, $[1,500] to $[5,000] | Direct manager and department head | Before booking |
| International trip or any trip over $[5,000] | Department head and [CFO / VP Finance] | At least 21 days before departure |
| Premium economy, business class or first class | [VP] and [Finance] | Before booking, with the reason recorded |
3. Booking rules
Book all air, rail, hotel and rental cars through [booking tool or agency] so the company can track travelers in an emergency and apply negotiated rates. Bookings made elsewhere are reimbursed only if they cost less than the lowest comparable fare shown in the booking tool on the same day, with a screenshot attached. Book domestic flights at least [14] days before departure and international flights at least [21] days before, when the trip is known. Choose the lowest logical fare: the lowest available fare on a flight departing within [2] hours of the preferred time with no more than one connection each way. Pay for a checked bag, seat selection or change fee only when needed for the trip. Frequent flyer miles and hotel points belong to the traveler. Choosing a more expensive airline, hotel or car to earn points is not allowed. Personal travel added to a business trip (extra nights, a companion, a side trip) is paid by the employee, and the company pays no more than the cost of the business-only itinerary.
4. Class of travel
| Mode | Standard | Exception (with approval under section 2) |
|---|---|---|
| Air, domestic and flights under [6] hours scheduled | Main cabin economy; basic economy only if it does not restrict needed bags or changes | Premium economy for a documented medical need or ADA accommodation |
| Air, over [6] hours scheduled flight time | Premium economy | Business class for flights over [10] hours when the traveler must work on arrival |
| Rail | Coach or standard class | Business class when the fare difference is under $[50] |
| Rental car | Intermediate size or smaller; decline prepaid fuel | Larger vehicle for 3 or more travelers or equipment |
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How to use this template
- 1
Fill in your limits
Replace every bracketed figure: approval thresholds, card limits, the receipt threshold and submission deadlines. Keep deadlines inside the IRS safe harbor (60 days to substantiate, 120 days to return excess).
- 2
Choose per diem or actual cost for meals
Per diem is simpler to audit; actual cost with a daily cap suits companies with few travelers. Delete the option you do not use.
- 3
Match the approval matrix to your org chart
Name the role, not the person, for each approval level, and make sure no one approves their own expenses.
- 4
Issue cards with a signed cardholder agreement
Have every cardholder sign section 9 before the card is activated, and store the signed copy with the card record.
- 5
Update rates every year
GSA per diem rates change on October 1 and IRS mileage rates usually change on January 1. Put both dates in the HR compliance calendar.
Frequently asked questions
What should a travel expense policy include?
Who it covers, how trips are approved, booking rules, class of travel, lodging limits, meal rules or per diem rates, mileage, receipt requirements, submission deadlines and what is not reimbursable. Add a company credit card section if you issue cards. To keep reimbursements tax-free, the policy must meet the IRS accountable plan rules: business purpose, substantiation and return of any excess.
What is the 2026 per diem rate?
For federal fiscal year 2026 (October 1, 2025 to September 30, 2026), the GSA standard CONUS rate is $110 per night for lodging and $68 per day for meals and incidentals, with $51 on first and last travel days. For FY2027, starting October 1, 2026, the standard lodging rate is $113 and M&IE stays $68. Higher-cost cities have their own rates at gsa.gov/perdiem.
What is a company credit card policy?
It is the set of rules for employees who hold a corporate card: who is eligible, spending limits, what the card may and may not be used for, receipt and reconciliation deadlines, how personal charges are repaid, what to do if the card is lost, and when the card is cancelled. Cardholders should sign an agreement before the card is activated.
Do you need receipts for expenses under $75?
The IRS does not require a receipt for non-lodging expenses under $75, but you still need a record of the amount, date, place and business purpose (26 CFR 1.274-5). Lodging always needs a receipt. Many companies set a lower threshold, such as $25, because receipts make audits and fraud checks far easier.
How long do employees have to submit expense reports?
Most policies set 30 days. Under the IRS fixed-date safe harbor, expenses substantiated within 60 days and excess advances returned within 120 days are treated as timely (26 CFR 1.62-2(g)(2)). Reimbursing expenses submitted later than that can turn the payment into taxable wages, so set your policy deadline inside those limits.
What is the IRS mileage rate for 2026?
The IRS changed the business rate mid-year. It is 72.5 cents per mile for miles driven January 1 to June 30, 2026 (Notice 2026-10) and 76 cents per mile from July 1, 2026 (Announcement 2026-11). Use the rate for the date the trip was driven, not the date the claim is paid.