ACA Compliance Deadlines and Reminders
IRS Notice 2016-70 extended certain due dates for the 2016 Affordable Care Act information reporting requirements under code section 6055 and 6056. Please make note of the following dates:
- March 2, 2017: Employee Copies (includes 1095-B and 1095-C)
- February 28, 2017: IRS Copies Paper Returns
- March 31, 2017: IRS Copies e-filed Returns
Furnish Forms 1095-B and 1095-C to Participants
Plan sponsors of self-funded health plans and applicable large employers ("ALEs") must provide copies of the Form 1095-B or 1095-C to employees by March 2, 2017. IRS Notice 2016-70 automatically extended this deadline from the general January 31 deadline.
According to its updated Questions and Answers about Information Reporting by Employers on Form 1094-C and Form 1095-C, the IRS does not intend to grant additional extensions for providing the Forms 1095-B and 1095-C to participants and employees.
File Forms with IRS
Plan sponsors and applicable large employers must file the transmittal Forms 1094-B and 1094-C with their corresponding Form 1095 with the IRS by February 28, 2017 (or March 31, 2017 if e-filing). Unlike the deadline for furnishing Forms 1095-B and 1095-C to participants or employees, the deadline for filing information returns with the IRS was not automatically extended. However, the normal extensions may still apply.
If you have any questions about this information please contact your IPS Advisors consultant or email firstname.lastname@example.org.
The information provided is for educational purposes only. This information is from sources we believe to be reliable, but we cannot guarantee or represent that it is accurate or complete. The opinions are those of the writer, and the opinions and information presented are subject to change without notice.