IRS Releases Final Forms and Instructions for 2017 ACA Reporting Due in Early 2018
Register for our ACA Reporting Webinar
While the forms and instructions remain very similar to prior years, those who would like to review the forms with us are welcome to register for our next Assurex webinar.
- Thursday, October 26, 2017
- 2:00-3:30 Central (1:00-2:30 Mountain)
- Register here: https://attendee.gotowebinar.com/register/4782002954108537858
- Be sure to list IMA as the firm that invited you to this Assurex webinar
- Even if you cannot participate, registering will allow you to automatically receive the recording
Final 1094-C, 1095-C, and Instructions for Applicable Large Employers (ALEs)
The final documents can be found here:
- 1094-C: https://www.irs.gov/pub/irs-pdf/f1094c.pdf
- 1095-C: https://www.irs.gov/pub/irs-pdf/f1095c.pdf
- Instructions: https://www.irs.gov/pub/irs-pdf/i109495c.pdf
The forms and instructions remain largely identical to last year. Below is a summary of changes:
1094-C: All references to transition relief have been removed
- Part II, line 22, box “C” is now grayed out and marked “Reserved”
- Part III, column (e) is now grayed out and marked “Reserved”
1095-C:
- The “Plan Start Month” remains optional, but the instructions note “this box may be mandatory for the 2018” filing due in early 2019
- “Instructions for Recipient” section provides a new paragraph directing recipients to an IRS hotline or website for ACA questions
The instructions:
- Update the penalty amounts for incorrect, late, or missing filings
- Clarify that returns sent by mail to the IRS must be printed landscape
- Update the IRS Kansas City mailing address
- Provide a safe harbor for de minimis errors on 1095-C line 15 where “if no single amount in error differs from the correct amount by more than $100,…you will not have to correct Form 1095-C to avoid penalties. However, if the recipient [wants a corrected form], you may have to issue a corrected 1095-C to avoid penalties.”
- This isn’t new, but they also clarify that there is no specific code to put in line 16 when an offer is not affordable and the employee does not enroll
- The IRS is continuing to allow multiemployer plan relief (i.e., certain collective bargaining or participation agreements may allow the ALE to use 1H in line 14 and 2E in line 16 of the 1095-C)
Final 1094-B, 1095-B, and Instructions for Self-Funded Non-ALEs
While these forms are typically completed by insurers for insured plans, many non-ALEs have partially self-funded plans and must file their own “B” forms. The final documents can be found here:
- 1094-B: https://www.irs.gov/pub/irs-pdf/f1094b.pdf
- 1095-B: https://www.irs.gov/pub/irs-pdf/f1095b.pdf
- Instructions: https://www.irs.gov/pub/irs-pdf/i109495b.pdf
There are only minor updates.
- 1094-B: No changes
- 1095-B: The “Instructions for Recipient” section provides a new paragraph directing recipients to an IRS hotline or website for ACA questions
- The instructions:
- Update the penalty amounts for incorrect, late, or missing filings
- Clarify that returns sent by mail to the IRS must be printed landscape
- Update the IRS Kansas City mailing address
Due Dates
There is no indication of any extensions, so normal due dates apply as follows:
- All forms 1095 must be provided to individuals by Wednesday, January 31, 2018
- All forms 1094 and 1095 must be filed with the IRS by:
- Wednesday, February 28, 2018 if mailing
- Monday, April 2, 2018 if filing electronically (e-filing is required if issuing 250+ forms)
IMA will continue to monitor regulator guidance and offer meaningful, practical, timely information.
This material should not be considered as a substitute for legal, tax and/or actuarial advice. Contact the appropriate professional counsel for such matters. These materials are not exhaustive and are subject to possible changes in applicable laws, rules, and regulations and their interpretations.