2020 has arrived and as we work to catch up from the holidays, it is important to remember that some very important compliance deadlines are fast approaching.
The 2019 Affordable Care Act (ACA) reporting under Sections 6055 and 6056 of the Internal Revenue Service (IRS) code is the one that approaches the soonest in the New Year. As mentioned in a previous article, “IRS Provides Transition Relief for 2019 ACA Reporting”, the IRS extended the deadline to provide individuals with their 1095 statement from January 31, 2020 to March 2, 2020, but the employer filing deadline with the IRS remained the same. Therefore, the following applies:
- Paper filing is due to the IRS by February 28, 2020 for the 2019 health plan year.
- Electronic filing is due to the IRS by March 31, 2020 for the 2019 health plan year.
Although the IRS has provided an extension to deliver the 1095 forms to individuals, employers are encouraged to furnish the forms as soon as possible to reduce any confusion that the delay may cause.
The attached ACA Compliance Bulletin provides an overview of the important 2019 ACA reporting deadlines as well as additional information on the IRS changes to Notice 2019-63 that occurred on December 2, 2019.
Read the Compliance Bulletin.
Contact your Cowden representative for more information on this or other compliance issues.