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IRS Extends ACA Reporting Deadline

11/21/2016

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The IRS has extended the Affordable Care Act (ACA) reporting deadline to March 2, 2017 for 2016 Forms 1095-B and 1095-C to covered individuals and full-time employees. These extensions only apply to the calendar year 2016 reporting.

Applicable Large Employer (ALE)

  • An ALE must prepare Forms 1094-C and 1095-C to report information to the IRS and to their full-time employees regarding their compliance with the employer shared responsibility provisions and the healthcare coverage they have offered during a calendar year. 
  • Forms 1094-B and 1095-B are prepared by insurers, self-insuring employers, and other parties that provide minimum essential health coverage to report information on this coverage to the IRS and to covered individuals.
  • Employers subject to both reporting provisions will complete reporting obligations using Forms 1094-C and 1095-C.

Note: Reporting entities are required to report in early 2017 for coverage offered (or not offered) during the calendar year 2016.

Good Faith Penalty Relief Extension

For those who can show they made efforts to comply with the calendar year 2016 information reporting requirements, the IRS is also extending a good faith penalty relief. This relief applies to missing and inaccurate taxpayer identification numbers and dates of birth, as well as other information required on the return or statement. If you can show you gathered and transmitted the necessary data to an agent to prepare the data for submission to the IRS, or testing its ability to transmit information to the IRS, the IRS will not impose penalties. In addition, the IRS will take into account the extent to which the employer is taking steps to ensure that it will be able to comply with the reporting requirements for calendar year 2017.

Not Extended

The deadline to file the following 2016 forms with the IRS was not extended. These deadlines remain on February 28, 2017, or March 31, 2017 if filing electronically:

  • 1094-B
  • 1095-B
  • 1094-C
  • 1095-C

LBMC Employment Partners wants to make sure everybody remains knowledgeable on these deadlines, but also note that we are past deadline to accept new ACA clients for 2016. If you should need us to answer any questions, please call your LBMC Employment Partners representative or contact us here.

Posted in: Healthcare, ACA