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Relief for Employers - 2016 ACA Reporting Deadline Extensions

In an unexpected move, the IRS issued Notice 2016-70 extending the ACA reporting deadline for 2016 information for an additional 30 days. Originally all 2016 Form 1095-B and 1095-C's were scheduled to be provided by employers to employees by January 31, 2017. With the extension employers now have until March 2, 2017 to furnish the 1095-B and 1095-C Forms. The IRS had determined that a substantial number of employers and other insurance agencies needed additional time to gather and analyze information necessary to prepare the forms. The extension only applies for the tax year 2016 at this time. Additionally, there has been no extension to the filing of Forms 1094-B and 1094-C. Those filings with the IRS are still scheduled for February 28, 2017 if done by paper or March 31, 2017 if filed electronically. Finally, the "good faith transition relief" was extended for another year. Employers who show good faith to comply with the filing requirements will not be penalized for incorrect or incomplete 2016 forms. For more information, please contact Centralize HR to see how we can help your business.

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