IRS Releases Final 1094-C and 1095-C Forms and Instructions
On February 9, 2015, the Internal Revenue Service (IRS) released the final Forms 1094-C and 1095-C that are required to comply with section 6055 and 6056 of the Affordable Care Act (ACA). Employers that are subject to the employer shared responsibility provisions under section 4980H, generally Applicable Large Employer (ALE) Members (those with 100 or more full-time equivalent employees in 2015), will use the Forms to report information about offers of health coverage and enrollment in health coverage for their employees. The IRS will use the Forms to determine whether the individual and employer mandates were met and enforce penalties accordingly.
Form 1094-C requires information such as ALE Member information, total number of full-time employees per calendar month, total headcount per month, and certification that Minimum Essential Coverage was offered per calendar month. The form is due to the IRS no later than March 31, 2016 if filed electronically. The final Form and instructions may be accessed here on the IRS website.
Form 1095-C requires employee information including whether coverage was offered by calendar month, the employee’s share of the lowest cost monthly premium by month, and whether an applicable 4980H Safe Harbor was used by calendar month, as well as information on the employee’s covered dependants. Forms 1095-C are due to employees by January 31, 2016 and a copy of each Form 1095-C is due to the IRS by March 31, 2016 if filed electronically. The final Form and instructions may be found on the IRS website.
With President Obama’s Fiscal Year 2016 federal budget proposal calling for strict enforcement of ACA penalties, there is no better time to ensure your organization is reporting accurate information to the IRS in a timely manner.
- Watch our on-demand webinar: ACA and IRS Reporting Demystified
- View our infographic: IRS Reporting Under the Affordable Care Act
- Watch our on-demand webcast with PricewaterhouseCoopers: 2015 ACA Reporting Requirements, Challenges and Solutions