5 Things Applicable Large Employers Need to Know About Information Reporting
Forms 1095-C Due to Full-Time Employees by January 31, 2017
Under the Affordable Care Act, applicable large employers (ALEs)—generally those with at least 50 full-time employees, including full-time equivalent employees, in the preceding calendar year—must report certain information to their full-time employees and the Internal Revenue Service (IRS) about the health care coverage they have offered (if any). With deadlines for 2016 reporting just a few months away, ALEs should begin thinking about these five information reporting facts:
- ALEs are required to furnish a statement (Form 1095-C) to each of its full-time employees by January 31, 2017.
- ALEs must file Forms 1095-C, accompanied by the transmittal Form 1094-C, with the IRS no later than February 28, 2017 (or March 31, 2017, if filing electronically).
- Self-insured ALEs must also report via Forms 1094-C and 1095-C.
- ALEs that file 250 or more information returns during the calendar year must file the returns electronically.
- ALEs can find a complete list of resources and the latest news at the IRS’s Applicable Large Employer Information Center.
For further details on filing and furnishing Forms 1094-C and 1095-C, please see the 2016 instructions.
