While efforts to repeal and replace ACA have continued to fail, we can confirm that the IRS will continue to enforce ACA compliance. Applicable Large Employers will still be held responsible for ACA reporting.

Several companies are questioning whether they need to file IRS forms 1094 and 1095, or not.

The answer is a resounding, “YES!” As stated in a recent post by Willis Tower Watson, “the ACA reporting requirements also remain in place for now. Employers subject to the ACA are still required to report offers of health coverage or actual coverage (for self-insured plans), and so should prepare to comply and report for 2017.”

To put it simply, file the paperwork or be subjected to lengthy audits. Even worse – face fines that start at $100 per day, per person and per occurrence.

Here’s a list of important requirements and deadlines you need to know:

  • Applicable Large Employers (ALEs) with 50+ full-time employees must file IRS forms 1094C and 1095C.
  • Self-Insured or Smaller Employers must file IRS forms 1094B and 1095B.
  • 2017 deadlines will likely be the same as 2016 (without the extensions), unless the law changes in the upcoming months.

What are the next steps your business should take for ACA compliance and reporting?

  • Get ahead on gathering accurate information; avoid waiting till the last minute or face steep penalties by the IRS.
  • Determine if your business is an Applicable Large Employer.
  • Ensure you have comprehensive solutions set in place, which include work tracking, decision support, and all forms needed to file with the IRS; don’t risk ACA reporting to chance or spreadsheets.
  • Secure the appropriate forms applicable for your business and review instructions for IRS forms 1094 and 1095.
  • Take care of your business and customers with a customized ACA reporting solution to fit your business needs, and be in full compliance with the IRS requirements. Begin preparing your business now for ACA compliance and reporting.