Affordable Care Act Reporting Requirements Delayed by IRS

Last week the IRS issued Notice 2016-4 extending the due dates of the new Affordable Care Act employer and insurance company reporting forms, 1095-B and 1095-C and related Forms 1094. 

• Forms 1095-B and 1095-C requirements were extended two months and must now be provided to insureds and employees by 3/31/16 instead of 2/1/16.

• Forms 1094-B and 1094-C, with copies of the related Forms 1095-B and 1095-C due to the IRS were extended three months and must now be submitted if paper-filed by 5/31/16 rather than 2/29/16 and if electronically filed, by 6/30/16 rather than 3/31/16.

These filing requirement delays could have an impact on some individual income tax filers and determination of their eligibility for premium tax credits related to insurance received from the Health Insurance Marketplace.

Learn more about the employer reporting requirements effective now.