New IRS ACA Reporting Forms and Instructions Released

The IRS released updated versions ACA reporting forms and instructions on October 5th, 2015.

Time is of the essence to review the instructions and begin preparing for the reporting deadlines.

The forms released for employers are:

IRS Forms and Instructions for 1094-C/1095-C
http://www.irs.gov/pub/irs-pdf/i109495c.pdf

1094-C - Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns
https://www.irs.gov/uac/About-Form-1094-C

1095-C - Employer-Provided Health Insurance Offer and Coverage
https://www.irs.gov/uac/About-Form-1095-C

Question and Answers on Shared Responsibility and Transition Relief:
https://www.irs.gov/Affordable-Care-Act/Employers/Questions-and-Answers-on-Employer-Shared-Responsibility-Provisions-Under-the-Affordable-Care-Act

Applicable Large Employer Information Center:
https://www.irs.gov/Affordable-Care-Act/Employers/ACA-Information-Center-for-Applicable-Large-Employers-ALEs

Updated ACA Forms and Filing Deadlines as of January 1, 2016:

• March 31, 2016 - Form 1095 must be provided to each employee by February 1, (January 31 falls on a Sunday so the deadline was moved to February 1.) The form can be provided electronically with the employee’s consent.

• May 31, 2016 - Employers must file the returns with the IRS for the 2015 year, unless filing electronically.

• June 30, 2016 - Electronic filing deadline. NOTE: employers filing at least 250 returns must file electronically.