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Attention, Employers: New ACA Reporting Deadlines for 2016

Published on 2/26/2016 12:00:00 AM
Attention, Employers: New ACA Reporting Deadlines for 2016

Employers working through the detailed reporting requirements under the Affordable Care Act (ACA) recently received some good news: more time to comply with the upcoming deadlines.

December 28, 2015, the IRS issued Notice 2016-4, which extended the deadlines for reporting health care coverage to employees/recipients and the IRS through forms 1095-B and 1095-C (and 1094-B and 1094-C transmittals). Prior to this announcement, this year’s schedule for filing the applicable forms was the same as 1099s and W-2s.

The IRS pushed back the deadlines as follows:

Action New Deadline Prior Deadline
Distribute forms to employees/recipients March 31st, 2016 February 1st, 2016
File forms with the IRS if using paper forms May 31st, 2016 February 29th, 2016
Files forms with the IRS if filing electronically June 30th, 2016 March 31st, 2016

While this is a welcome announcement for many employers, please be aware that this is a one-time extension for this year’s tax-filing season only. You don’t have to make a formal request from the IRS (or submit any other documentation to take advantage of the extension), but you are expected to comply with the deadlines. The IRS may not impose penalties for filing incomplete or incorrect information only if you’ve made a good faith effort to comply. This means doing everything possible to prepare, distribute and file the necessary ACA forms as quickly and accurately as possible.

Plus, the first deadline – distributing forms to employees/recipients – is fast approaching. To complete 1095 forms and furnish them by March 31st, you’ll need to review employee hours from the preceding year, compile specific employee and healthcare coverage data, and determine which forms to fill out based on your company size and whether you’re insured or self-insured.

Get clear direction before the deadlines hit

Need help making sense of it all? Check out our upcoming webinar, Simplifying ACA Compliance, for more information on the new ACA reporting requirements – and guidance on how to gather the necessary employee data and complete the 1095s.​​​

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Ashley Kaplan, Esq.
Presented by: Ashley Kaplan, Esq.,
Senior Employment Law Attorney
Federal deregulation efforts continue under the new administration. But history shows that when federal regulation slows, state and local regulatory activity increases. Nowhere is this more evident than in the area of employment law. Over the last year, many states and cities have stepped up their own legislative activity by passing a record number of new employment laws. And with each new law there is a potential poster update or new poster being issued. Depending on your state, you may now be required to post up to 21 labor law notices. And that doesn’t include local postings: more cities and counties are issuing mandatory posters than ever before.
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