As it has in prior years, the IRS extended a key Affordable Care Act deadline - the due date for furnishing to individuals the 2020 Form 1095-B and Form 1095-C.
Notice 2020-76 extends the due date for 1095-B/C distribution from January 31, 2021 to March 2, 2021. The extension is automatic and employers do not have to take action to get the timing relief. The Notice also extends transition relief from penalties if an employer makes a good faith effort to comply with reporting requirements. The notice says that 2020 will be the last year of good faith compliance relief.
A copy of the Notice may be accessed by clicking here.
For information about BAS' ACA Compliance Services, contact your account manager or solutions@BASusa.com.