By Jennifer Carsen, JD, Legal Editor
Despite the extra time bestowed by the IRS to file and distribute 1095-Cs for the 2015 tax year, coding challenges abound. How do you account for folks on COBRA? Noncalendar-year plans? And what the heck is a “Limited Non-Assessment Period,” anyway?
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Fear not—help is here. Read on to learn, in plain English, how to correctly code your employees on the deceptively complicated 1095-C.
First, who needs Who needs a 1095-C? Employers with 50 or more full-time employees, including full-time equivalent employees (FTEs), in calendar year 2015 are required to fill out Forms 1094-C and 1095-C. Guidance on how to calculate your number of FTEs is available here.
Employers that qualify as ALEs must both file a Form 1095-C for, and distribute a Form 1095-C to, each employee who was full-time for any month(s) in 2015. The ACA generally defines “full-time” as averaging 30 or more hours a week for a given month, or at least 130 hours total for the month.
In this article, I will explain 1095-C reporting and filing requirements in detail.
In part 2 of this article, I’ll provide tips for filling out specific lines of the form.