The law requires that Applicable Large Employers (ALEs) – or those with 50 or more full-time employees or equivalents – file information returns with the IRS as well as distribute copies of the returns to their full-time workers.
There are two deadlines for ALEs: one for filing the returns with the IRS and one for providing copies of the returns to employees.
The IRS has extended both of these deadlines, as detailed in IRS Notice 2016-4:
|
2015 Report
|
Original Deadline
|
Extended Deadline
|
|
Forms Sent to Individuals
Form 1095-B Form 1095-C |
2/1/2016
|
3/31/2016
|
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Forms Filed with the IRS
Forms 1094-B and 1095-B Forms 1094-C and 1095-C |
2/29/2016 – paper
3/31/2016 – electronic
|
5/31/2016 – paper
6/30/2016 – electronic
|
Although, these new dates grant extra time for reporting, if employers have not already done so, they should take action steps so that they are prepared to file the required forms timely.
The IRS indicated that no additional extensions will be granted. Employers and insurers that do not meet these extended due dates may be subject to penalties.
For 2015 only, individuals who file their federal income tax returns before receiving their 1095-B and 1095-C forms will not be required to amend their income tax returns once they receive their forms. They should keep their forms, once received, with their tax records.
Thank you for taking time to view this email. We encourage you to contact our office should you have any questions about this or any other compliance related matter.
