IRS FORMS FOR AFFORDABLE CARE ACT (ACA) REPORTING

Published by Mary Lou F. on August 26, 2014

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Affordable Care Act Reporting Forms We’re working tirelessly to keep you up to date on all of the latest and greatest information surrounding the Affordable Care Act, without burdening you with the minutia. No one expects you to read the 3000+ pages of legislation, but that won’t stop the IRS from levying fines! We got your back.

On July 24, the IRS released drafts of the forms employers will use for reporting under Code Sections 6055 and 6056. Draft instructions are expected to be posted to IRS.gov later in August.

{{cta(‘b0160f4d-ac61-4363-a5ed-c98ad9f9a525′,’justifyleft’)}} Applicable large employers will use forms 1094-C (Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Return) and 1095-C (Employer-Provided Health Insurance Offer and Coverage). Health care reporting entities that are also the applicable large employers (i.e., self-insured employers) will use a combined reporting method using the 1094-C and 1095-C forms as well.

Entities that are health insurance issuers, carriers, or health care sponsors that are not also applicable large employers will file using forms 1094-B (Transmittal of Health Coverage Information Returns) and 1095-B (Health Coverage).

Remember, the IRS is encouraging voluntary reporting compliance for 2014. This would be the perfect opportunity to test that any systems you’ve put in place are fully integrated for the purpose of reporting.

Read How to Complete IRS Affordable Care Act Froms (w/ infographic)

Are you ready? We’re standing by for the “tag-in” when you’re ready.

We’re working to keep you up to date as these forms evolve and your requirements become clearer. For the most up to date ACA form reporting information, check out our webinar.