Final Rules Released on Reporting for Issuers and Self-funded Employers

On March 5, 2014, the IRS released final regulations on the section 6055 reporting requirements. These regulations finalize proposed rules issued on Sept. 5, 2013.

The final regulations apply for calendar years beginning after Dec. 31, 2014. This date reflects the one-year delay provided in IRS Notice 2013-45. However, the IRS is encouraging voluntary compliance for 2014.

These reporting requirements are intended to provide the IRS with information necessary to administer other ACA mandates, such as the large employer shared responsibility penalty and the individual mandate.

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