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Monday, January 4, 2016 | Category:

On December 28, 2015 the U.S. Treasury and Internal Revenue Service published Notice 2016-4 announcing extensions to some Affordable Care Act reporting deadlines.  The extensions are intended to provide additional time to employers, insurers, and other providers of minimal essential coverage to gather, analyze and report the data necessary to meet the requirements.

The Notice extends the due date for providing to employees their Form 1095-C (Employer-Provided Health Insurance Offer and Coverage) from February 1, 2016 to March 31, 2016.

The Notice further extends the due date for filing with the IRS Form 1094-C (Transmittal of Employer-Provided Health Insurance Offer and Coverage) and the corresponding Form 1095-C’s from February 29, 2016 to May 31, 2016,  if NOT filing electronically; and from March 31, 2016 to June 30, 2016, if filing electronically.

Employers and other insurers who do not comply with these extended deadlines may be subject to penalties and fines under the law for failure to timely furnish and file.

Because Form 1095-C is used to report employer-provided minimally essential coverage, most individual filers should not be impacted by these extensions.

Tedford Insurance is positioned to assist companies in meeting these revised compliance deadlines.  Please do not hesitate to contact our agency.


 

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