The IRS has extended the deadline for distributing Form 1095 to employees as mandated by reporting requirements under the Affordable Care Act. Applicable sponsors of self-funded health plans that are required to provide Form 1095 to their employees now have until March 2, 2018, rather than Jan. 31, 2017. No extension was provided for filing the Form 1094 Transmittal and Form 1095 with the IRS which remains Feb. 28, 2018, for paper filers or April 2, 2018, for electronic filers. Electronic filing is required for parties filing 250 or more forms.
The IRS also indicated that transitional relief from penalties has been extended to reporting entities that can show that they have made good-faith efforts to comply with the information-reporting requirements under sections 6055 and 6056 for 2017 both for furnishing to individuals and for filing with the IRS with incorrect or incomplete information. This relief applies to missing and inaccurate taxpayer identification numbers and dates of birth, as well as other information required on the return or statement. No relief is provided to reporting entities that fail to file an information return or furnish a statement by the extended due date.
Starmark® has provided a spreadsheet, available in the Document Center, that employers may use to help them with compiling the data needed for the forms. For help with completing the forms or filing with the IRS, see your accountant, tax adviser and/or payroll services company.