The Department of the Treasury and the Internal Revenue Service (IRS) have determined that additional time will be needed for many employers, insurers, and other providers of minimum essential coverage (MEC) to gather the necessary information to prepare the 2017 Forms 1095-B and 1095-C that must be issued to individuals under Sections 6055 and 6056. With the release of Notice 2018-06 on December 22, 2017, the IRS has exercised its right to grant an extension of up to 30 days to furnish Forms 1095-B and 1095-C, delaying the January 31, 2018 deadline to March 2, 2018.
Employers should now be aware of these important deadlines:
- March 2, 2018 – Forms 1095-B and 1095-C must be provided to employees
- February 28, 2018 – Deadline for 2017 paper filing with the IRS
- April 2, 2018 – Deadline for 2017 electronic filing with the IRS
Even though an extension has been granted, employers and other coverage providers are encouraged to issue their 2017 statements to employees as soon as they are able. There has been no change to the deadline for filing 2017 returns with the IRS, and taxpayers do not need to wait to receive Forms 1095-B and 1095-C before filing their tax returns.
The Affordable Care Act added Sections 6055 and 6056 to the Internal Revenue Code, thereby requiring sponsors of health care plans to maintain minimum essential coverage of their employees throughout the year or face potential fees. Further, every provider of MEC must report coverage information by filing an information return with the IRS and furnishing a statement to individual employees.
MidAmerica’s ACA Reporting Solutions help ease the sponsor’s administrative and compliance burden by filing 1094 and 1095 forms on behalf of the employer. Whatever your form-filing needs are, we have a solution that works for you. With over 20 years of public sector compliance experience, we have the products and industry knowledge to ensure our clients are compliant under the ever-changing ACA regulatory landscape. If you are ready to save time and headaches on forms filing, while avoiding the risk of inaccurate reporting, click the button below to enroll in MidAmerica’s ACA Reporting Solution.