A multi-physics time-dependent model for design and analysis of inductive electric vehicle (EV) charging systems is presented. The model combines time-harmonic electromagnetic, time-dependent or steady-state thermal and fluid models that are all solved together using Finite Element Analysis (FEA). Detailed coupled formulations for each physics and their corresponding boundary conditions are presented. The multiphysics model includes the fluid dynamics model that incorporates the air convection process and therefore results in more accurate thermal performance analysis. COMSOL Multiphysics software is used for performing the steady-state and time-domain FEA based multi-physics simulations on a case study inductive EV charging system. The results show that using the multi-physics model the behavior of the IPT system can be effectively analyzed. The multiphysics model is specifically helpful for choosing the proper cooling system and thermal insulation between the charging pad and the vehicle.