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ACA Reporting Extensions for 2015

Posted on December 30th, 2015

The Internal Revenue Service (IRS) recently issued Notice 2016-4 which extends the deadlines to complete the new Affordable Care Act (ACA) reporting requirements. The reporting is used to help the IRS enforce the Individual and Employer Mandates, and it’s also used to help the IRS administer subsidies in the Exchange. It applies to insurers and certain employers effective for the 2015 calendar year and moving forward. The new deadlines are as follows:
 
  • New due date to furnish copies of the applicable forms to individuals whose information is being reported to the IRS:
    • March 31, 2016 (original due date: February 1, 2016)
 
This applies to furnishing a copy of Form 1095-B to applicable individuals, which is issued by insurers of fully-insured plans as well as employers with fewer than 50 employees who have a self-insured medical plan. 
 
It also applies to furnishing a copy of Form 1095-C to applicable individuals, which is generally issued by employers with 50 or more employees.   
 
  • New due date to submit reporting to the IRS:
    • May 31, 2016 if filing manually (original due date: February 29, 2016)
    • June 30, 2016 if filing electronically (original due date: March 31, 2016)
 
This applies to Forms 1094-B and 1095-B, which is required to be reported to the IRS by insurers of fully-insured plans as well as employers with fewer than 50 employees who have a self-insured medical plan. 
 
It also applies to Forms 1094-C and 1095-C, which is generally required to be reported to the IRS by employers with 50 or more employees.   
 
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The materials contained within this communication are provided for informational purposes only and do not constitute legal or tax advice.
 
 

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