The IRS released its final ACA reporting regulations on December 12, 2022. The permanent and automatic 30-day extension applies to 2022 reporting for Applicable Large Employer (“ALE”) groups.
ALEs and insurance providers are required to furnish individual health coverage Forms 1095-C and 1095-B, respectively, to full-time employees by March 2, 2023, effective for Tax Year 2022. The January 31st deadline has been replaced permanently.
The IRS did not extend the due date for the filing of Forms 1094-B, 1094-C, 1095-B, and 1095. Paper filing due date is February 28, 2023, and the electronic filing due date remains March 31, 2023.
For a copy of the regulations, please click on the link below:
https://public-inspection.federalregister.gov/2022-27212.pdf
It is important to note that the good-faith penalty relief for incorrect or incomplete reports due in 2023 is not extended.
An option to keep in mind is that Form 8809 will extend the IRS filing deadline by 30 days if Form 8809 is submitted prior to the relevant due date.
Still standing today, starting in 2020, the IRS indicated that it would not assess penalties for failure to furnish a Form 1095-B if two conditions were met. First, the reporting entity is required to post a prominent notice on its website stating that individuals may receive a copy of their 2022 Form 1095-B upon request, along with an email address, physical address, and phone number. Second, the reporting entity must furnish the Tax Year 2022 Form 1095-B to the responsible individual within 30 days of receipt of the request. When the notice is posted on an employer’s website, it must also be written in non-technical terms and must remain on the website until October 15th of each year that the Form relates. The statement explaining how responsible individuals may request a copy of their Form 1095-B must include the statement on a secondary page that includes, in capital letters, “IMPORTANT HEALTH COVERAGE TAX DOCUMENTS
Penalties will continue to be assessed for all ALEs for not furnishing Forms 1095-C to all full-time employees., consistent with prior enforcement policies. Additionally, self-insured ALE groups must also complete Part III of Form 1095-C.
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