The Internal Revenue Service (IRS) published Notice 2018-06 which provides an extension of the deadlines for 2017 ACA annual reporting requirements. The deadline for providing individuals with Forms 1095-B and 1095-C has been extended from January 31, 2018 to March 2, 2018. The deadline to file Forms 1094-B, 1094-C, 1095-B and 1095-C with the IRS remains unchanged and is February 28, 2018 for paper filings and April 2, 2018 for electronic filings.
These extensions are automatic and replace any extension requests that have been submitted. There will be no further extensions available. The IRS has continued the interim good faith compliance standard. Therefore, no penalties will be assessed for incomplete or inaccurate information on the forms filed provided the filer can show it completed the forms in good faith. This relief is only available if the forms were filed on time.
Beginning in 2016, group health plans and large employers will be required to file annual health coverage information returns under Internal Revenue Code Sections 6055 and 6056, which were added by the Affordable Care Act (ACA). Although all filers are encouraged to file information returns electronically, those who file 250 or more information returns are required to file electronically through the Affordable Care Act (ACA) Information Returns (AIR) system. To assist in developing software for use with the AIR system, the Internal Revenue Service (IRS) released Draft Publication 5165. This guide has information regarding the communication procedures, transmission formats and other rules for the following annual information returns filed electronically:
- Form 1094-B, Transmittal of Health Coverage Information Returns
- Form 1095-B, Health Coverage
- Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns
- Form 1095-C, Employer-Provided Health Insurance Offer and Coverage
The IRS will publish a final Publication 5165 at a later date.