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ACA Reporting Extensions

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INTERNAL REVENUE SERVICE ANNOUNCES NEW DEADLINES FOR EMPLOYERS

Preparing for the new Affordable Care Act (ACA) reporting requirements has been a long and complicated process, as this is the first year that employers and insurers are required to report certain information about health coverage to employees, other individuals and the Internal Revenue Service (IRS).

Recently, the IRS announced in Notice 2016-4 that employers will have two more months — until March 31 — to give individuals 2015 forms for reporting on offers of health coverage and the coverage provided.

These forms include:

  • 2015 Form 1095-B, Health Coverage (and the 1094-B transmittal); and,
  • the 2015 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage (and the 1094-C transmittal).

If filing in hard copy, the dates were extended from February 29 to May 31, 2016; and if filing electronically, the dates were extended from March 31 to June 30, 2016. The due date for providing the information statements to individuals was extended from February 1 to March 31, 2016.

The IRS is encouraging employers and insurers to begin reporting to employees and other individuals as soon as possible. However, in response to stakeholder feedback, this extension will provide employers and insurers a limited, additional period of time to meet these requirements, while maintaining the ACA reporting requirement for 2015.