The IRS has released 2015 Draft Instructions for Forms 1094-C and 1095-C (as well as Forms 1094-B and 1095-B), which may help many employers prepare for the new information reporting provisions under the Affordable Care Act.
Applicable employers are required to report for the first time in early 2016 for calendar year 2015.
Who is Required to Report
Applicable large employers — generally those with 50 or more full-time employees, including full-time equivalents — will use Forms 1094-C and 1095-C to report information to the IRS and to their employees. The information on the reports is primarily in regards to an employer’s compliance with the employer shared responsibility provisions (“pay or play”) and the health care coverage they have offered.
2015 Draft Forms and Instructions
The following draft forms and instructions are now available for 2015:
- 2015 Draft Instructions for Forms 1094-C and 1095-C
- 2015 Draft Instructions for Forms 1094-B and 1095-B
Please note that Forms 1095-B and 1095-C must be electronically filed if the employer is required to file at least 250 of the specific form.
I hope that you find this compliance bulletin helpful. For additional information, please make sure to visit our Health Care Reform Library, where you can download checklists, guidelines, and more.
If you have any questions, please contact the CBG Benefits team at 781-759-1222.