Tuesday, January 12, 2016

IRS Extends Deadlines for New Mandatory Forms for Employers with 50 or more FTEs

Dave Kyllo

The Internal Revenue Service has extended the deadlines for new mandatory forms that must be completed by an applicable large employer – employers with 50 or more full-time employees, including full-time equivalents. The new deadline for the first of these new reporting requirements is now March 31, 2016 which is an extension of nearly two months from the previous deadline.

These requirements apply regardless of whether health coverage was offered to employees. You are an applicable large employer for calendar year 2015 if you had 50 or more full-time employees, including full-time equivalent employees, in 2014.

If you were an applicable large employer in 2015, you must file information returns with the IRS and provide statements to each employee who was a full-time employee for at least one month of the year about health coverage you offered or to show that you did not offer health coverage.

Two IRS forms will be used for this reporting:
Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Return: used to report to the IRS summary information for each employer and to transmit Forms 1095-C to the IRS.
Form 1095-C, Employer-Provided Health Insurance Offer and Coverage: used to report required information to your employees and to report information about each employee to the IRS.

Forms 1095-C must be provided to employees by March 31, 2016. Forms 1094-C and 1095-C are now due to the IRS by May 31, 2016, if filing on paper, or June 30, 2016, if filing electronically. The IRS has developed instructions for completing these forms.

For more information about these reporting requirements, go to Reporting of Offers of Health Insurance Coverage by Employers on IRS.gov/aca.

Concerned about your employee health insurance costs? AHCA/NCAL Insurance Solutions may be able to save you money. For more information about health plan options available through AHCA/NCAL Insurance Solutions, contact Dave Kyllo at 202-898-6312 or email ahcainsurancesolutions@ahca.org.

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