Update: Final Forms for 2017 ACA Reporting

The Internal Revenue Service (IRS) has released the final 2017 ACA reporting forms under IRS Code Sections 6055 and 6056.

• 2017 Forms 1094-C and 1095-C (and related instructions) are used by applicable large employers (ALEs) to report under Section 6056, as well as for combined Section 6055 and 6056 reporting by ALEs who sponsor self-insured plans.
•  2017 Forms 1094-B and 1095-B (and related instructions) are used by entities reporting under Section 6055, including self-insured plan sponsors that are not ALEs.

The 2017 forms are similar to the 2016 versions, except that sections related to expired Section 4980H Transition Relief were removed. Employers should familiarize themselves with the updated forms and be prepared to file these in early 2018. Here are some important dates:

• January 31, 2018: Individual statements for 2017 must be furnished by January 31, 2018.
• February 28, 2018: IRS returns for 2017 must be filed by February 28, 2018 (April 2, 2018, if filed electronically, since March 31, 2018, is a Sunday).

For more information, download the bulletin or contact your NIS Employee Benefit Consultant.