Deadline for ACA Reporting Extended

November 21, 2016

On November 18, 2016, the IRS announced (Notice 2016-70) that the deadline for 2016 reporting requirements under Sections 6055 and 6056 have been extended. This extension is applicable to the distribution of the forms to employees and covered individuals only, not the filing of the forms with the IRS. An automatic extension of 30 days is granted if good cause exists with an additional 30 days available via an application to the IRS. The deadline for distribution of Forms 1095-B and 1095-C to employees and covered individuals has been changed from January 31, 2017, to March 2, 2017. While the deadline for filing forms 1094-B, 1095-B, 1094-C, and 1095-C remains February 28, 2017, if filed with the IRS on paper and March 31, 2017, if filed with the IRS electronically.

The notice also confirms that the IRS will continue to apply the good faith standard when it comes to issuing penalties resulting from incomplete or incorrect forms. Employers must make a good faith effort to comply with the requirement and meet the required distribution and filing deadlines.

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