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Final Forms for ACA Reporting Released | MI Employee Benefits

acacompliancebulletinThe IRS has released final 2016 forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056.
 
  • Forms 1094-B and 1095-B (released Sept. 26, 2016) are used by entities reporting under Section 6055, including self-insured plan sponsors that are not applicable large employers (ALEs).
  • Forms 1094-C and 1095-C (released Sept. 30, 2016) are used by ALEs to report under Section 6056, as well as for combined Section 6055 and 6056 reporting by ALEs who sponsor self-insured plans.

Minor changes were made to the forms, including the addition of two new “Offer of Coverage” codes for use on Form 1095-C.  The instructions also included some clarifications to existing rules, including changes for certain transition relief provisions that are no longer available, or only available for certain months in 2016.

READ THE FULL REPORT HERE.