IRS Releases Draft Forms for Employer Reporting of Health Coverage

TheĀ IRS released draft versions of forms that employers will use to report information about the health plan coverage they offer (or do not offer) to employees. The following are the draft forms employers will use to report under Sections 6055 and 6056:

Forms 1094-C and 1095-C will be used by applicable large employers (ALEs) that are reporting under Code Section 6056. Forms 1094-B and 1095-B will generally be used by entities reporting as health insurance issuers or carriers, sponsors of self-insured group health plans that are not reporting as ALEs, sponsors of multiemployer plans and providers of government-sponsored coverage under Section 6055. However, a reporting entity that is reporting under Section 6055 as an ALE will file under a combined reporting method, using Forms 1094-C and 1095-C.

According to the IRS, these draft forms are intended to help stakeholders (including employers, tax professionals and software providers) prepare for these new reporting provisions.

These forms are draft versions only, and should not be filed with the IRS. In addition, these draft forms should not be relied upon for filing. The IRS may make changes to the forms prior to releasing final versions.

The IRS anticipates that draft instructions relating to the forms will be posted to its website in August. Both the forms and instructions will be finalized later this year.

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The information provided is for informational purposes only and does not constitute legal advice. The information above contains only a summary of the applicable legal provisions and does not purport to cover every aspect of any particular law, regulation or requirement. Depending on the specific facts of any situation, there may be additional or different requirements. This is to be used only as a guide and not as a definitive description of your compliance obligations.