How To Meet The Annual ACA Reporting Deadline

The deadline tEmployers learning how to file ACA Forms by the March 4th Deadlineo provide employees with a copy of their Form 1095-B or Form 1095-C is March 4th, 2019!

Originally due on January 31, insurers, self-insuring employers, large employers, and other coverage providers must file Form 1095-B or Form 1095-C to the individuals in which they cover by March 4th.

These forms are statements provided to covered individuals and are used to determine whether they will claim the premium tax credit on their returns. As the provider, it is extremely important that these forms are filed and distributed on time.

Well, the clock is ticking, so let’s get to it! Here is how to meet the annual ACA reporting deadline. 

How To Meet The ACA Reporting Deadline

The easiest way to meet the March 4th deadline is to quickly e-file with TaxBandits

Now I know what you’re thinking… “another shameless plug? *inserts eye roll*” [LOL]. But seriously, if you’re in a time crunch or want to file ahead of time, we’re here to help you!

E-filing both Form 1095-B and 1095-C, along with transmittal Form 1094-B and 1094-C, is extremely easy when you file with us. Here’s some insight on what each form is used for:

Form 1095-B

Form 1095-B is used to report certain information regarding minimum essential health insurance coverage to the IRS and individuals. This form is typically issued by insurance providers, including insurance companies, self-insured employers, employers with fewer than 50 full-time employees, and other agencies that provide health insurance coverage.

Information Required To File

  • Individual details: Name, EIN, and Address
  • Employer/Coverage Provider details: Name, EIN, and Address
  • Coverage Individuals details: Name, TIN, and Date of Birth (if SSN or other TIN is not available), months of coverage

Form 1095-C

This Form is the annual statement that applicable large employers (ALEs) use to report to the IRS about the insurance offered to its large number of full-time employees.

Information Required To File

  • Employer Details: Name, EIN, and Address
  • Employee Details: Name, SSN, and Address
  • Employee Offer of Coverage details: Codes and amounts
  • Covered Individual Details: Name, TIN, Date of Birth (if SSN or other TIN is not available), covered months

Form 1094-B

Form 1094-B is the transmittal form that accompanies Form 1095-B when filing with the IRS each year. Together, Forms 1094-B and 1095-B are used to report the type of coverage offered by health care providers to individuals and verify an individual and any dependents that received at least minimum qualifying health insurance coverage from the provider during the calendar year.

Information Required To File

  • Employee information such as name, social security number, contact information, etc.
  • Number of the Form 1095-B transmitted with Form 1094-B

Form 1094-C

Form 1094-C is the transmittal form that accompanies Form 1095-C when filing with the IRS each year. Together, Forms 1094-C and 1095-C are used to provide information to the IRS regarding health insurance coverage offered to your full-time employees and that status of individual employee’s enrollment. Form 1094-C is only sent to the IRS, not to employees.

Information Required To File

  • Employee information such as name, social security number, contact information, etc.
  • Number of the Form 1095-C transmitted with Form 1094-C
  • ALE member information

ACA Deadline Dates

There are three important deadlines for all of the forms listed above:

Business Women Filing ACA Forms by the March 4th Deadline

  • March 4th – Due to Recipient
  • February 28th – Paper file with the IRS
  • April 1st – E-file with the IRS

The clock is ticking and time is running out. Create or log in to your free TaxBandits account to submit and process your ACA Forms while you still have time! We even offer postal mailing and are standing by ready to assist you!

 

File My ACA Recipient Copies

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