Employers get extension on some ACA reporting dates

The IRS has announced that it has extended the deadline for employers subject to certain reporting requirements necessary under the Affordable Care Act (ACA).

New deadlines have been set for employers subject to Sections 6055 and 6056 reporting requirements:End of the Month

  • The deadline for employers to furnish employees Form 1095-B, Health Coverage, and Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, has been extended to March 31. The previous deadline was February 1.
  • The deadline for filing Form 1094-B, Form 1095-B, Form 1094-C, and Form 1095-C with the IRS has been extended to May 31 for employers filing nonelectronically and to June 30 for employers filing electronically. (Employers filing 250 or more information returns are required to file electronically.)

The IRS notice explains that Section 6055 requires self-insured employers and other entities that provide minimum essential coverage to file and furnish annual information returns and statements regarding coverage provided. Section 6056 requires applicable large employers (generally those with 50 or more full-time employees, including full-time equivalents, in the previous year) to file and furnish annual information returns and statements related to the health insurance they offer (or do not offer) to their full-time employees.

Even though the deadlines have been extended, the IRS notice explains that the agency is prepared to accept filings of information returns on Forms 1094-B, 1095-B, 1094-C, and 1095-C beginning in January. The IRS advises employers and other coverage providers to furnish statements and file information returns as soon as they are ready.

The latest filing deadline extensions follow a two-year delay in the implementation of the so-called Cadillac tax from 2018 to 2020. The purpose of the tax is to reign in what’s determined to be unnecessarily expensive employer-sponsored health plans.