The IRS released final Forms 1094-B/C and 1095-B/C along with final instructions. Employers will use these forms to meet their 2015 health care reform reporting obligations. The B series of forms are used by health care providers, including insurers and self-funded small employers. The C series of forms are filed by applicable large employers (employers with 50 or more full-time or full-time equivalent employees).
Form 1095-C must be distributed by by January 31, 2016. Employers must transmit Form 1094 to the IRS by February 29, 2016 for paper filings and by March 31, 2016 for electronic submissions.
The final Instructions are very similar to the draft instructions released earlier this year. See our article here.
Two major clarifications in the final Instructions include:
Other items were clarified in the final documents. BAS has reviewed the final Forms and Instructions and is prepared for 2015 health care reform reporting. For more information about BAS’ health care reform data collection and reporting module, contact solutions@BASusa.com.