Employer reporting: Draft forms released

July 30, 2014

On July 24, 2014, the Internal Revenue Service (IRS) released draft employer reporting forms required under the March 5, 2014, final rules implementing the information reporting requirements for insurers and certain employers under the Affordable Care Act (ACA).

IRS Section 6055 requires health insurance issuers, employers, government entities and other persons that provide minimum essential coverage to file returns with the IRS and issue statements to its covered individuals that include basic identifying information about the covered individual, the months in which they were covered, and information about the plan sponsor, if applicable.

IRS Section 6056 requires applicable large employers to file returns with the IRS and issue statements to its full-time employees that include information about the health care coverage offered by the employer for purposes of compliance with the ACA’s employer shared responsibility requirements.

The forms can be found in the following links:

1095-B – return/statement for Section 6055 reporting.
1094-B – transmittal to IRS for Section 6055 reporting.
1095-C – return/statement for Section 6056 reporting. This form may be used by a self-funded applicable large employer to meet its sections 6055 and 6056 reporting obligations.
1094-C – transmittal to IRS for Section 6056 reporting.

Instructions for the draft forms have not yet been provided. The IRS anticipates that drafts of the instructions will be released in August, with the forms being finalized this year.

Where can I find more information?
Addition information can be found in the Federal Register.

The information in this document is based on preliminary review of the national health care reform legislation and is not intended to impart legal advice. The federal government continues to issue guidance on how the provisions of national health reform should be interpreted and applied. The impact of these reforms on individual situations may vary. This overview is intended as an educational tool only and does not replace a more rigorous review of the law’s applicability to individual circumstances and attendant legal counsel and should not be relied upon as legal or compliance advice. As required by US Treasury Regulations, we also inform you that any tax information contained in this communication is not intended to be used and cannot be used by any taxpayer to avoid penalties under the Internal Revenue Code.