Client Alert: IRS Releases Draft Instructions and Q&As re: Employer Information Reporting Requirements under the ACA

The IRS has recently released draft instructions to the employer reporting drafted forms released over a month ago.

Here are some helpful links for you:

Instructions to Forms 1095-C and 1094-C can be found here.
Questions and Answers regarding Code section 6056 can be found here on the IRS website.
Instructions to Forms 1095-B and 1094-B can be found here.
The IRS’ Questions and Answers regarding Code section 6055 can be found here.

Final forms and instructions are scheduled to be released yet this year.

Although the first reports are not due until early 2016 for the 2015 calendar year, it would be prudent to carefully review these rules to ensure you have systems in place to track the required information.  Please let us know how we can assist you with this process.

For more information on this issue, please contact Elizabeth H. Latchana at 517.377.0826 or Elizabeth Latchana is an accomplished attorney, specializing in employee health and welfare benefits. Recently recognized for her outstanding legal work, she was selected by some of Michigan’s leading lawyers for inclusion in The Best Lawyers in America 2014 for Employee Benefits (ERISA) Law. Ms. Latchana has taken a prominent role in educating and advising organizations on the ever-evolving law, that may well be the largest change ever to health care in the United States, commonly known as health care reform. Her expertise also includes ERISA, COBRA, Cafeteria Plans, Wrap Plans, Health Savings Accounts (HSAs), and Health Reimbursement Arrangements (HRAs).