Businesses preparing for this year’s Affordable Care Act (ACA) reporting requirements just received an end-of-the-year gift from the IRS. On December 22, 2017, the IRS extended the due date for employers to provide copies of the 1095-C to employees and recipients.
March 2, 2018 (previously January 31, 2018)
The 30-day extension is automatic, so employers don’t have to request it. The timeframe for filing 2017 forms with the IRS remains the same, however. For 2018, these due dates are February 28 for paper filers and April 2 for electronic filers. (It’s important to note that employers filing more than 250 forms are required to e-file.)
While the deadline extension is great news for employers, the importance of filing ACA reporting forms on time cannot be overstated. The IRS now has sophisticated systems in place for more vigorous enforcement. They’ve recently begun issuing fines for 2015 violations — and are intent on enforcing the employer requirements as long as the ACA is still in effect. With penalties as high as $260 per form for late filings, and $530 per form for intentional disregard, the cost of non-compliance is significant.
Check out ComplyRight.com/aca for more information on the ACA reporting requirements — and guidance on how to meet the employer reporting mandate with convenient and efficient e-filing.