​Tax Cuts and Jobs Act: Dec 2018

Tax Cuts And Jobs Act

On Dec 22, 2017 the IRS issued an extension of the deadline for furnishing the 1095-C and 1095-B forms to Individuals to March 2, 2018… The deadlines for filing with the IRS remain unchanged. The IRS has released the final forms and instructions for 1094-B, 1095-B, 1094-C, and 1095-C for calendar year 2017 reporting. Employers are required to report in early 2018 for calendar year 2017. 

 

Who is Required to Report?
Forms 1094-B and 1095-B are used by insurers, self-insuring employers, and other parties that provide minimum essential health coverage to report information on this coverage to the IRS and to covered individuals. Applicable large employers (generally those with 50 or more full-time employees, including full-time equivalents or FTEs) will use Forms 1094-C and 1095-C to report information to the IRS and to their full-time employees about their compliance with the employer shared responsibility provisions ("pay or play") and the health care coverage they have offered. Employers subject to both reporting provisions (generally self-insured employers with 50 or more full-time employees, including FTEs) will satisfy their reporting obligations using Forms 1094-C and 1095-C.

Information Reporting Deadlines 
The upcoming deadlines for submitting Forms 1094 and 1095 are as follows:

  • Applicable large employers (ALEs) must file Forms 1094-C and 1095-C with the IRS no later than February 28, 2018 (or April 2, 2018, if filing electronically). ALEs must also furnish a Form 1095-C to all full-time employees by March 2, 2018.
  • Self-insuring employers that are not considered ALEs and coverage must file Forms 1094-B and 1095-B with the IRS no later than February 28, 2018 (or April 2, 2018, if filing electronically). A Form 1095-B must also be furnished to "responsible individuals" (may be the primary insured, employee, former employee, or other related person named on the application) by March 2, 2018.