IRS Extends Due Dates for ACA Reporting Under Sections 6055 and 6056

On Monday (Dec. 28^th, 2015), the U.S. Treasury and Internal Revenue Services extended the due dates for the 2015 Forms 1094 and 1095 for two months. Small to medium sized organizations will file under I.R.C. 6055 (Forms 1094/1095 B) and large companies will file under I.R.C. 6056 (Forms 1094/1095 C).

New Deadlines

Individual Forms: Forms 1095-B (Health Coverage) and 1095-C (Employer-Provided Health Insurance Offer and Coverage) for individuals has been extended from February 1, 2016 to March 31, 2016.

IRS Forms: Forms 1094-B (Transmittal of Health Coverage Information Returns)/1095-B (Health Coverage) and Forms 1094-C (Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns)/1095-C (Employer-Provided Health Insurance Offer and Coverage)

• Non-Electronic Filings: The deadline for non-electronic filings of has been extended from February 29, 2016 to May 31, 2016.
• Electronic Filings: The deadline for electronic filings has been extended from March 31, 2016 to June 30, 2016.

Even with these extensions in the filing time periods, the IRS is encouraging organizations to furnish statements and file information returns as soon as they have been prepared. Since the new deadlines are more generous than prior extensions, entities that had previously requested extensions will not be receiving a formal approval.

For more information on the new IRS filing deadlines, please see our legislative brief and checkout our resource page.