The IRS released the final versions of the following 2023 Affordable Care Act (ACA) forms: (1) Form 1094-B, Transmittal of Health Coverage Information Returns; (2) Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns; (3) Form 1095-BForm 1095-B, Health Coverage; and (4) Form 1095-C, Employer-Provided Health Insurance Offer and Coverage. The forms do not contain substantive changes.
ACA “B” forms.
Forms 1094-B and 1095-B are used to report certain information to the IRS and taxpayers about individuals who had minimum essential coverage (MEC) in the taxable year, and therefore aren’t liable for the individual shared responsibility payment.
ACA “C” forms.
Employers with 50 or more full-time employees (including full-time equivalent employees) in the previous year (also known as applicable large employers or ALEs) file Form 1094-C and Form 1095-C to provide information to the IRS about their employees with respect to offers and enrollment in health coverage for the taxable year.
Reduced electronic filing threshold.
Beginning with the 2023 tax year (2024 filing year), taxpayers who file 10 or more information returns in aggregate must file electronically. The reduced threshold applies to ACA returns.
The due date for paper filers to file these forms with the IRS is February 28, 2024. Electronic filers have until April 1, 2024 (March 31 falls on a Sunday), to file the forms.
2024 leap year: While 2024 is a leap year, the due date continues to be February 28 for paper filers.
For information regarding Affordable Care Act requirements, see Payroll Guide ¶3401 et seq.
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