2020 ACA Filing Instructions

Posted by BAS - 22 October, 2020

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The IRS released its final instructions for Forms 1094/1095-B/C. These instructions provide the guidance required for proper reporting of 2020 coverage under the Affordable Care Act.

The C series of forms identifies the following changes from 2019:

  • The due date for furnishing Form 1095-C to individuals is extended from January 31, 2021 to March 2, 2021.
  • The IRS will not impose a penalty for reporting incorrect or incomplete information on Form 1095-C if the employer makes a good faith compliance effort.
  • Employers that offer individual coverage HRAs should report those offers of coverage.
  • The plan start month is required for the 2020 Form 1095-C.

The B series of forms identifies the following changes from 2019:

  • A new code G must be entered on line 8 to identify an individual coverage HRA.
  • The due date for furnishing Form 1095-B to individuals is extended from January 31, 2021 to March 2, 2021.
  • The IRS will not impose a penalty for reporting incorrect or incomplete information on Form 1095-B if the employer makes a good faith compliance effort.
  • The IRS will not impose a penalty for failure to furnish Form 1095-B to individuals if certain conditions are met.

Copies of the Instructions may be accessed by clicking here.

BAS is prepared to furnish 1095 forms and transmit data to the IRS on Form 1094 in compliance with the 2020 reporting instructions. For information about BAS’ ACA data collection and reporting services, contact your account manager or solutions@BASusa.com.

Topics: Health Care Reform (ACA), Affordable Care Act, HR & Benefit Plans, HR & Benefits News


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