The Internal Revenue Service (IRS) recently issued a notice (Notice 2018-6) that extends the due date for furnishing required Affordable Care Act (ACA) forms to individuals and employees until March 2, 2018. Previously, the deadline to furnish individuals with their 2017 Form 1095-B (Health Coverage) and 1095-C (Employer-Provided Health Insurance Offer and Coverage) was January 31, 2018. It should be noted, however, that this extension applies only to furnishing of information reports to individuals and employees, and does not extend the due date for filing Forms 1095-B and 1095-C, which remains February 28, 2018, for non-electronic filings or April 2, 2018, for electronic filings.
The ACA generally requires health insurance issuers, self-insuring employers, government agencies, and other providers of “minimum essential coverage” to file with the IRS, and provide to covered individuals, annual information returns and statements about their coverage. Similarly, the ACA also requires applicable large employers (ALEs) – that is, employers with 50 or more full-time employees or equivalents – to file with the IRS, and provide to covered individuals, annual information returns and statements relating to the health insurance the employer offers, or does not offer, to its full-time employees.
As a result of this extension, the IRS acknowledged some individuals may not receive their Form 1095-B or Form 1095-C by the time they are ready to file their 2017 tax return. Per Notice 2018-6, those taxpayers may rely on other information received from their employer or other coverage provider for purposes of filing their tax returns, including determining their eligibility for the premium tax credits and confirming they had minimum essential coverage for 2017.
If you have questions about the Affordable Care Act or other employee benefit topics which may impact your business or organization, please contact attorney Steve Theising at stheising@KDDK.com or (812) 423-3183, or contact any member of the KDDK Tax and Employee Benefits Team.
About the Author
Steven M. Theising, a Partner at Kahn, Dees, Donovan & Kahn, LLP (KDDK), in Evansville, Indiana, practices primarily in the areas of business, real estate, tax and employee benefits, construction, and healthcare law. Steve utilizes his accounting and financial background to provide both legal and practical business analysis in negotiating, resolving and closing business, construction and real estate transactions and disputes. He also assists clients with addressing and resolving estate planning issues.