IRS Extends Due Dates for New 2015 Information Reporting Requirements

If you are a health insurance issuer, self-insured employer, government agency, or other entity that provides minimum essential coverage to an individual during a calendar year, you must report certain information about the coverage that you provide to the IRS. If your organization is an applicable large employer (ALE), you must report to the IRS information about the health care coverage, if any, that you offered to full-time employees.

On December 28, 2015, the IRS released Notice 2016-4, which extends the due dates for the 2015 Affordable Care Act information reporting requirements for self-insuring employers and applicable large employers under sections 6055 and 6056 of the Internal Revenue Code. Here are the due dates you should put on your calendar. You will meet the requirement to file if the form is properly addressed and mailed on or before the due date.

 Notice 2016-4 deadlines                                                                Former      New

Form 1095-B, Health Coverage, employee copy                            2/1/16      3/31/16

Form 1095-C, Employer-Provided Health Insurance Offer             2/1/16      3/31/16

and Coverage, employee copy

Form 1094-B, 1095-B, and 1095 C paper  -filer due date               2/29/16     5/31/16

Form 1094-B, 1095-B, and 1095 C electronic- filer due date         3/31/16      6/30/16

Individual taxpayers will generally not be affected by this extension and should file their tax returns as they normally would.  However, due to these extensions, some individual taxpayers may not receive a Form 1095-B or Form 1095-C by the time they are ready to file their 2015 tax return. While the information on these forms may assist in preparing a return, they are not required. Like last year, taxpayers can prepare and file their returns using other information about their health insurance.  Individuals do not have to wait for their Form 1095-B or 1095-C in order to file.

These extensions apply automatically to all health coverage information return issuers and are longer than the 30-day extensions that would otherwise be obtained by submitting Form 8809, Application for Extension of Time to File Information Returns. Therefore, the IRS will not process any previously requested extensions of these deadlines for 2016.  The longer automatic extensions do not require a formal request using Form 8809 or other documentation.  The IRS does not anticipate additional extensions.

At Lanterman Insurance Agency Inc, we have tools and solutions for your business. Our benefit administration system, BeneSuite ™ automates this process for you.  We provide the forms ready to file. Our Human Resources module will also keep you up to date on the ever changing world of the Affordable Care Act.