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Forms 1094 and 1095: Complying With Mandatory ACA Healthcare Coverage Reporting Requirements of IRC 6055 and 6056

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Thursday, January 5, 2017

Recorded event now available

This course will give corporate tax professionals and tax advisers a detailed and practical guide to mastering the employer health coverage reporting mandated by the Affordable Care Act (ACA). The panel will provide concrete instructions and examples on documenting and completing the required forms 1094-B, 1095-B, 1094-C and 1095-C, including any last minute updates and tips to get ready to file.

Description

The ACA’s reporting provisions require employers to file informational returns with the IRS and annual statements to employees in early 2017. Even though the employer mandate only applies to “applicable large employers,” both large and small employers have reporting requirements. Further complicating matters is that the transition relief the IRS offered for the 2015 tax year is now expired.

The expiration of the temporary transition measures means that more employers are required to verify that employees have qualifying health coverage. Eligible employers also face earlier deadlines for providing coverage forms to employees than in 2016. Businesses with filing requirements must meet these new compliance requirements or face stiff penalties.

Listen as our authoritative panel of ACA experts discusses planning techniques to ensure employer compliance with the ACA’s new 2016 information reporting requirements. The panel will offer guidelines for both applicable large employers as well as small employers who are not subject to the employer mandate but may still have reporting obligations, and will outline the steps employers should take now to prepare to comply and avoid penalties.

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Outline

  1. IRC 6055 and 6056 reporting requirements
  2. Forms to be furnished to employees
  3. Forms to be reported to the IRS
  4. Examples and illustrations of completed Forms 1094-B, 1095-B, 1094-C and 1095-C

Benefits

The panel will offer guidance on these and other key issues:

  • Responsibility for IRS ACA-related reporting
  • Reporting requirements for employers that are part of a “controlled group”
  • What to report and who should receive reports
  • Forms required to be completed and deadlines
  • Impact of expiration of “transition relief” for smaller employers

Faculty

Maring, Lorie
Lorie L. Maring
Partner
Fisher & Phillips

Ms. Maring focuses her practice on helping employers navigate Employee Retirement Income Security Act and other state...  |  Read More

Alyson Mathews
Alyson Mathews
Partner
Lamb & Barnosky

Ms. Mathews represents employers and school districts in education, labor and employment law matters. She has assisted...  |  Read More

Jeffrey D. Smith
Jeffrey D. Smith
Partner
Fisher & Phillips

Mr. Smith is a member of the firm's Employee Benefits Practice Group. He works with clients to create, implement...  |  Read More