HR Compliance

ACA’s Employer Reporting Requirements Extended

By

Jason Bodin

| Dec 29, 2015

If there is one thing that is synonymous with the Affordable Care Act (ACA), it is change. On Dec. 28, the IRS announced in Notice 2016-4 that the due dates for the employer reporting requirements for businesses will once again be extended.

For organizations not ready to file and furnish their 2015 reporting Forms 1094/1095-B and -C, these extended due dates represent a late holiday surprise.

The Notice extended:

  • the date Forms 1095-B and –C need to be delivered to employees, extending the original due date from Feb. 1 to March 31, 2016, and
  • the date Forms 1094-B and –C need to be filed with the IRS, extending the original due date from Feb. 29 to May 31, 2016. Electronic transmittals to the government can now be delivered as late as June 30, 2016.

In citing their reasons for the extension, the IRS and Department of Treasury found that, “some employers, insurers and other providers of minimum essential coverage need additional time to adapt and implement systems and procedures to gather, analyze and report this information.”

Despite the extension, the IRS announced it is prepared to receive the required forms on the original reporting dates and is encouraging employers and other providers to furnish and file the information returns as soon as they are ready.

What do your employees need to know?

The Notice also grants relief to certain individuals and employees who receive their Forms 1095-B and -C after they have filed their individual tax returns.

For 2015, individuals will no longer need to amend their tax returns after receiving their Forms 1095-B and -C for the purposes of determining eligibility for the premium tax credit issued to qualifying entities.

The content of this blog is intended to keep interested parties informed of legal and industry developments for educational purposes only.  It is not intended as legal opinion or tax advice and should not be regarded as a substitute for legal or tax advice.

About the Author

Jason Bodin

Jason Bodin has been the communications pulse for a number of organizations, including Paycom, where he serves as director of public relations and corporate communications. He helped launch Paycom’s blog, webinar platform and social media channels. He aided in the development of Paycom’s tool to assist organizations in complying with the Affordable Care Act, one of the largest changes in health care the country has seen. A graduate of the University of Oklahoma, Bodin previously worked for ESPN and FoxSports. In his free time, he enjoys adventuring with his family, reading and strengthen his business acumen.

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