IRS Releases Final Forms and Instructions for ACA Reporting
On February 8th, 2015, the IRS released the final 1095-C, 1094-C, 1095-B, & 1094-B forms and instructions for Sections 6055 and 6056 reporting. This Health Care Reform newsletter provides an overview of the final forms and instructions.
These forms are not required to be filed for 2014. However, in preparation for the first required filing (in 2016 for 2015 coverage), reporting entities may voluntarily file in 2015 for 2014 in accordance with the draft forms and instructions. Please note that these are the 2014 filing forms and the 2015 forms and instructions have not yet been released and may contain some changes.
On February 9, 2015, the IRS also issued Publication 5196, “Understanding Employer Reporting Requirements of the Health Care Law”, to help employers prepare for reporting in 2016.
As a reminder, if you have less than 50 full-time employees or full-time employee equivalents, you have no reporting requirements under Section 6055 or Section 6056.