Employer reporting: Updated IRS forms and instructions released (Sec. 6055 and Sec. 6056)
March 23, 2015
Update to previous alert from July 30, 2014: Employer reporting: Draft forms released
On Feb. 9, 2015, the Internal Revenue Service (IRS) released updated forms and instructions for Section 6055 Minimum Essential Coverage Reporting and Section 6056 Applicable Large Employer Coverage Reporting.
IRS Section 6055 (requires health insurance issuers, employers, government entities and other persons that provide MEC to file returns with the IRS and issue statements to its covered individuals that include basic identifying information about the covered individual, the months in which they were covered, and information about the plan sponsor, if applicable.
IRS Section 6056 requires applicable large employers to file returns with the IRS and issue statements to its full-time employees that include information about the health care coverage offered by the employer for purposes of compliance with the ACA’s employer shared responsibility requirements.
Returns must be filed with the IRS by Feb. 28 (March 31 if filed electronically) and statements must be provided to responsible individuals on or before Jan. 31 of each year.
Reporting is first required in early 2016 for calendar year 2015. Reporting is voluntary in 2015 based on calendar year 2014.
The instructions and forms can be found in the following links:
- Instructions for Forms 1094-B and 1095-B (IRS Section 6055) – used to report MEC information to the IRS and to covered individuals.
- Instructions for Forms 1094-C and 1095-C (IRS Section 6056) -- used by applicable large employers to report coverage information to the IRS and all eligible employees.
- Form 1094-B (Transmittal of Health Coverage Information Returns)
- Form 1095-B (Health Coverage)
- Form 1094-C (Transmittal of Employer-Provided Health Insurance Offer and Coverage
Information Returns) - Form 1095-C (Employer-Provided Health Insurance Offer and Coverage)
For more information, go to the Affordable Care Act Tax Revisions.
The information in this document is based on preliminary review of the national health care reform legislation and is not intended to impart legal advice. The federal government continues to issue guidance on how the provisions of national health reform should be interpreted and applied. The impact of these reforms on individual situations may vary. This overview is intended as an educational tool only and does not replace a more rigorous review of the law’s applicability to individual circumstances and attendant legal counsel and should not be relied upon as legal or compliance advice. As required by US Treasury Regulations, we also inform you that any tax information contained in this communication is not intended to be used and cannot be used by any taxpayer to avoid penalties under the Internal Revenue Code.