Are you up to date with your knowledge on your company’s reporting requirements? An article shared by CalChamber informs employers about the 2017 Affordable Care Act (ACA) tax reporting forms and instructions.
With no changes to the Affordable Care Act (ACA) on the horizon, employers must remember their reporting requirements. The Internal Revenue Service (IRS) recently released final forms and instructions for 2017 ACA tax reporting, as detailed below.
It is federally mandated that employers with 50 or more full-time or full-time equivalent employees must report information about the health care coverage, if any, they offer. The updated forms and instructions to do so are:
- File 2017 Form 1094-C Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns with the IRS;
- Furnish 2017 Form 1095-C Employer-Provided Health Insurance Offer and Coverage to each full-time employee and file with the IRS; and
- Review the IRS’s Instructions for Forms 1094C and 1095-C for guidance.
For employers that sponsor self-funded minimum essential coverage plans, the required forms and their instructions are:
- File 2017 Form 1094-B Transmittal of Health Coverage Information with the IRS;
- Furnish 2017 Form 1095-B Health Coverage to the enrollee and file with the IRS; and
- Review the IRS’s Instructions for Forms 1094-B and 1095-B for guidance.
Deadlines
For 2018, the deadline to furnish the 2017 Form 1095-B or Form 1095-C to the employees or individuals is January 31, 2018.
The deadlines to file ACA forms with the IRS depend on whether you are filing a paper form or filing electronically.
- The deadline to paper file all 2017 Forms 1095-C or 1095-B, as well as the appropriate transmittal Form 1094-C or 1094-B, is February 28, 2018.
- The deadline to electronically file all 2017 Forms 1095-C or 1095-B, as well as the appropriate transmittal Form 1094-C or 1094-B, is April 2, 2018.
If you would like to know more about the ACA’s tax reporting requirements, feel free to contact our staff and we would be more than happy to assist you with what you need know as employer to stay compliant.
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HR Staff Contact: Gail Cecchettini Whaley
After spending nearly 20 years practicing employment law, Gail Cecchettini Whaley has joined the California Chamber of Commerce in June 2011 as employment law editor and staff counsel. Along with being chief author of the popular HRWatchdog blog and HRCalifornia Extra e-newsletter, Whaley is a contributor and editor for CalChamber’s various human resources compliance products.
