On Dec. 28, 2015, the Internal Revenue Service (IRS) announced that deadlines for 2015 Section 6055 and 6056 reporting have been delayed.
The new deadlines are as follows:
- March 31, 2016 – Deadline for furnishing Forms 1095-B and 1095-C to individuals (previous due date was Feb. 1, 2016)
- May 31, 2016 – Deadline for filing Forms 1094-B, 1095-B, 1094-C and 1095-C with the IRS (previous due date was Feb. 29, 2016)
- June 30, 2016 – Deadline for electronically filing Forms 1094-B, 1095-B, 1094-C and 1095-C (previous due date was March 31, 2016)
These deadlines have been extended to give employers and other providers more time to analyze and report coverage information.
Section 6055 applies to providers of minimum essential coverage, such as health insurance issuers and employers with self-insured health plans. These entities will generally use Forms 1094-B and 1095-B to report information about coverage they provided during the previous year.
Section 6056 applies to applicable large employers (ALEs), or those with 50 or more full-time employees, including full-time equivalents, in the previous year. ALEs should use Forms 1094-C and 1095-C to report whether they offered coverage to their full-time employees.
The extended due dates are automatic, meaning employers are not required to submit any requests or documentation to the IRS to take advantage of these new deadlines. Any requests previously submitted will not receive formal approval from the IRS.
Despite this delay, employers should not put off completing these forms. The IRS is encouraging employers to furnish statements and file information returns as soon as they are ready.
For help completing these forms, or if you have questions about reporting requirements, contact us today.