ACA COMPLIANCE UPDATE: IRS EXTENDS DUE DATE FOR FURNISHING FORMS 1095-C, TRANSITION RELIEF FROM ACCURACY PENALTIES ALSO EXTENDED
The Internal Revenue Service (IRS) announced on December 22, 2017, that it has extended the 2018 due date for Applicable Large Employers (ALEs) to furnish 2017 health coverage information forms to employees. ALEs now have until March 2, 2018 to provide Forms 1095-C to individuals, which is a 30-day extension from the original due date of January 31, 2018. No extension was provided for transmission of Forms 1094-C and 1095-C to the IRS (April 2, 2018).
ADP TotalSource has extended the deadline to approve Forms 1095-C to February 19, 2018, but employers are strongly encouraged approve their Forms 1095-C and 1094-C as soon as you are able so we can furnish Forms 1095-C to worksite employees in a timely fashion. Click here for more information on how to approve your Forms.
The IRS also extended transition relief from penalties under Internal Revenue Code (IRC) sections 6721 and 6722 to ALEs that can demonstrate that they made good-faith efforts to comply with the Form 1095-C reporting requirements under IRC sections 6055 and 6056 for 2017. This good faith relief applies both to incorrect or incomplete information furnished to individuals and filed with the IRS.
Should you have any questions or want to inquire about the Forms 1095-C extension, please contact your HRBP.
For more information, please be sure to read the latest in our new Eye on Washington: Due Date for Furnishing IRS 2017 Forms 1095-C Extended; Transition Relief from Accuracy Penalties Also Extended (12/26/2017).