Key Compliance Deadlines for Employers in July 2024

ACA Reporting Deadlines in 2024

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

For the 2023 calendar year, employers are required to furnish statements to individuals by March 1, 2024, and file paper returns with the IRS by February 28, 2024. Employers with at least 10 returns during the calendar year must file electronically and have until April 1, 2024, to do so. Failing to file returns and furnish statements by their deadlines may result in penalties.

Employers subject to ACA reporting

Employers with self-insured health plans are subject to Section 6055 reporting, and Applicable large employers (ALEs) with fully insured or self-insured health plans are subject to Section 6056 reporting. ALEs are defined as employers with at least 50 full-time employees during the previous calendar year.

Sections 6055 and 6056 reporting

Employers subject to Section 6055 are to report information regarding the coverage they provided during the previous plan year by completing Forms 1094-B and 1095-B.

Employers subject to 6056 reporting use Forms 1094-C and 1095-C to report information regarding the coverage they did or did not offer to their employees during the previous plan year.

 

If you have any questions regarding upcoming ACA reporting, please contact your dedicated Creative Benefits, Inc. team member.