The Internal Revenue Service released a notice in November informing employers that their deadline to furnish 1095-B or -C (Employer-Provided Health Insurance Offer) forms to their employees has been extended to March 2, 2017. While the date to send out employee forms has been extended, the filing date for both 1094 and 1095-B and C forms with the IRS remains the same. Employers must file these forms with the IRS by February 28, 2017 for paper returns and March 31, 2017 if filing electronically. Please note that employers with more than 250 employees, must file electronically.
In addition, the IRS extended the “good-faith transition relief” to tax year 2016. This relief was originally given to employers by the IRS for tax year 2015, which allowed them to be in compliance as long as they made a good-faith effort to file their 1095-B and C forms on a timely basis even if there were errors in it. The relief does not apply to employers who do not file their returns by the deadline. If you have any questions regarding these extensions, please contact our ACA team at ACAteam@pinnacletpa.com.