It’s Deadline Day! File Your ACA Forms or Face A Penalty
We’ve finally reached this point.
Today (June 30) marks that day that all Applicable Large Employers (ALEs) with 50 or more full-time equivalents must electronically file forms 1094-C and 1095-C.
If you’re self-insuring your employees, then you must also file forms 1094-B and 1095-B.
If filed incorrectly, penalties will follow, as the CBO projects $228 billion in penalties between 2016 and 2025. It’s a rather complicated task to use the AIR system for filing, so tread carefully when operating it on this deadline day.
For further information, contact the IRS or contact Gregg Kasubuchi at gkasubuchi@fcci.us.com of Trusaic for a free spot-audit of your ACA compliance & reporting practices.
To learn more about ACA compliance in 2020, click here.
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