IRS Extends Deadline for Forms 1095-C and 1095-B

IRS Extends Deadline for Forms 1095-C and 1095-BThe IRS is extending the deadline for employers to supply the forms 1095-C and 1095-B, but what does this mean for you, an employer?

On November, 18 2016, the IRS released Notice 2016-70 to extend the due date for employers to furnish Form 1095-C or 1095-B under the Affordable Care Act’s (ACA) employer reporting requirement. This will give employers an extra 30 days to prepare and distribute the 2016 form to their employees. The due dates for filing forms with the IRS, however, are not extended.

BACKGROUND

Applicable Large Employers (ALEs), who are, in general, entities that employed 50 or more full-time workers and full-time-equivalent employees in 2015, are required to report information about the health coverage they offered or did not offer to a few employees in 2016. To meet this reporting requirement, the ALE will supply Form 1095-C to the employee or former employee and file copies, along with transmittal Form 1094-C, with the IRS.

EXTENDED DUE DATES

More specifically, Notice 2016-70 extends the following due dates:

  • The deadline for furnishing 2016 Form 1095-C or Form 1095-B, to employees and other individuals is March 2, 2017 (the period before the extension was January 31, 2017.
  • The deadline for filing the copies of the 2016 Forms 2095-C and the transmittal Form 1094-C with the IRS is:
    – If filing through paper, February 28, 2017.
    – If filing electronically, March 31, 2017.

Before the IRS extended this date, the process that existed for an extension was to file form 8809 to request a 30-day extension of the due date to furnish forms to individuals. The Notice 2016-70 explains that the new extended due date applies automatically, so individual requests are not necessary.

Contact the experts at Colorado Nonprofit Insurance Agency, part of HUB International in Denver, Colorado at 303-894-0298. We will work with you to ensure you are getting the most out of your coverage.