For more information, please contact
Faith
Conley at 916.650.8117.
IRS Provides New Q&A on ACA Employer
Reporting Requirements
The Internal Revenue Service (IRS) has
issued a new
Question and Answers page regarding
the Affordable Care Act information
reporting requirements found in Sections
6055 and 6056 of the Internal Revenue
Code for for applicable large employers
and employers sponsoring self-insured
health plans. The required forms covered
in the Q&A include1094-C,1095-C,1094-B,
and
1095-B. The reporting gives the IRS
the necessary information to enforce the
Individual Mandate and the Employer
Mandate.
The IRS Q&A page addresses the
following:
Which types of forms employers must
file;
What information must be provided
to full-time employees;
How to report whether an offer of
coverage was made to a particular
employee during a calendar month;
How to report information regarding
offers of coverage in the months when
an employee is hired and when
employment terminates;
How to report when an employee
receives an offer of COBRA continuing
coverage in various situations;
Deadlines for filing and providing
information to employees;
Relief from penalties if proof of
good faith efforts to comply with
reporting requirements;
Methods of reporting.
The initial reporting deadline for
Forms 1094-C and 1095-C for each employee
is on or before February 28 (March 31 if
filed electronically) of the year
immediately following the calendar year
for which an official offer of coverage
information is provided.
An IRS-issued brochure which summarizes
the reporting requirements can be found
here.
