The Internal Revenue Service (IRS) issued Notice 2018-94 on November 29, 2019. This notice extends certain due dates for ACA reporting and extends a good-faith transition relief from penalties.
Extending Furnishing Deadline
The IRS determined that employers and insurers needed more time to prepare 2018 Forms 1095-B and 1095-C to be furnished to individuals. The due date has been extended from January 31, 2019, to March 4, 2019.
Despite the deadline extension, employers and other coverage providers are encouraged to furnish their 2018 statements to individuals as soon as they are able. Additional extensions of time (past this initial extension) will not be granted, as this extension is applicable to everyone automatically.
Impact on Filing Deadline
However, please note that the due dates for filing with the IRS will remain the same. This applies to Forms 1094-B, 1095-B, or 1094-C, or 1095-C. If you are filing on paper, forms are due February 28, 2019. If you are filing electronically, they are due April 1, 2019. You may still request an extension to complete these forms if needed.
Good-Faith Transition Relief
The IRS has also extended transition relief from penalties for providing incorrect or incomplete information related to 2018 reporting under Sections 6055 and 6056. Reporting entities must make a good-faith effort to comply with the reporting requirements for 2018 (both for furnishing to individuals and for filing with the IRS).
Download the bulletin for more details.
Important Dates
March 4, 2019: DEADLINE EXTENDED. Deadline for furnishing 2048 Forms 1095-B and 1095-C to individuals
February 28, 2019: Deadline to 2018 filing with the IRS in paper form
April 1, 2019: Deadline to 2018 filing with the IRS electronically
National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.
