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Reminder: ACA Reporting Deadlines Approaching

Employers subject to the Affordable Care Act (ACA) reporting under Internal Revenue Code Sections 6055 or 6056 have deadlines in early 2024.

Who is subject to ACA reporting? Employers with self-insured health plans and applicable large employers (ALEs) with either fully-insured or self-insured health plans are subject to ACA reporting.

What is new with ACA reporting in 2024? All reporting entities that file at least 10 returns during the calendar year must file electronically in 2024.

 

Upcoming deadlines

Employers must complete the applicable actions below when reporting for the 2023 calendar year.

March 1, 2024 deadline:

  • Fully-insured and self-insured ALEs must provide 1095-C forms to full-time employees.
  • Self-insured employers must provide 1095-B forms to responsible individuals. Self-insured ALEs that provide coverage to non-employees may use either the 1095-B or 1095-C forms to report coverage for those individuals and other family members covered under the plan. Self-insured non-ALEs must post a notice on their website stating that responsible individuals may receive a copy of their statement upon request.

April 1, 2024 deadline:

  • Fully-insured and self-insured ALEs must file 1094-C and 1095-C forms electronically with the IRS.
  • Self-insured employers must file 1094-B and 1095-B forms electronically with the IRS. Self-insured ALEs who provide coverage to non-employees may use the B or C series forms to report coverage for those individuals and other family members covered by the plan.

It’s important to note that any reporting entity that does not adhere to ACA reporting requirements may be subject to the general reporting penalties for failure to file correct information returns and failure to furnish correct payee statements.

 

If you have any questions about the upcoming ACA reporting deadlines, be sure to contact your dedicated Creative Benefits, Inc. team member.