IRS Extends 2018 ACA Deadline for Providing 1095-Cs to Employees
The IRS has extended the 2018 deadlines to provide 2017 health coverage information forms to individuals as required by Affordable Care Act (ACA). The information was included in a new notice 2018-06 issued by the IRS.
Insurers, other coverage providers, self-insuring employers, and other employers with 50 or more full-time employees or full-time equivalent employees, knows as Applicable Large Employers (ALEs) now have until March 2, 2018, to provide Forms 1095-B (Health Coverage) or 1095 -C (Employer-Provided Health Insurance Offer and Coverage) to individuals. This is a 30-day extension from the original due date of January 31, 2018.
ALEs must furnish statements to employees regarding the health care coverage offered to them. Employees may use this information to determine whether they may claim the premium tax credit on their individual income tax returns. Because of these extensions, employees may not receive their Forms 1095 -B or 1095-C by the time they are ready to file their 2017 individual income tax return, but before the April 15 deadline. While information on these forms may assist in preparing a return, the forms are not required to file. Employees can prepare and file their returns using other information about their health coverage. They do not have to wait for Forms 1095 -B or 1095-C to file.
The IRS said it offered the extension after the Department of the Treasury and the agency determined that a substantial number of employers, insurers, and other providers of minimum essential coverage needed additional time to gather and analyze the information and prepare the forms to be provided to individuals.
The agencies did not see a need to extend the current 2018 deadlines for filing 2017 information returns with the IRS . They remain the same:
February 28 for paper filers
April 2 for electronic filers
For more information on IRS filing dates for 2018, click here.
If your business needs assistance meeting their ACA filing deadlines this year, contact us to learn about ACA Complete. Our all-in-one service can keep track of your workforce’s employment periods, help establish affordability and file and furnish Forms 1094-C and 1095-C annually.
