The IRS issued Notice 2020-76 which once again extends the due date for certain information returns under IRC6055 and 6066. A brief recap of the filing requirements: Due date Extended due date Forms 1095-C and 1095-B Statements to Individuals February 1, 2021 March 2, 2021 Submission to the IRS February 28, 2021(paper)March 31, 2021 (iffiled […]
6056, ACA, compliance; 6055, Disclosure, ReportingThe CARES Act was signed into law on March 27, 2020. Some guidance has been issued but more guidance isneeded in many areas, so we are keeping this ALERT simple. The provisions are effective immediately. Someprovisions are of limited duration. It remains to be seen if the restrictions will change. Provision Change Act Section Effective […]
401(k), Cafeteria Plan, DOL, IRSFurther Consolidated Appropriations Act, 2020 was enacted on December 20, 2019. It is comprised of various “Divisions”. Division N is Health and Human Services Extenders which includes repealing certain ACA provisions and Division O is Setting up Every Community Up for Retirement Enhancement (SECURE) which impacts retirement plans. This ALERT will briefly summarize items of […]
ACA, Affordable Care Act, IRSThe IRS issued Notice 2019-63 which once again extends the due date for certain information returns under IRC 6055 and 6066. A brief recap of the filing requirements: Due date Extended due date Forms 1095-C and 1095-B Statements to individual January 31, 2020 March 2, 2020 Submission to the IRS February 28, 2020 (paper) March […]
ACA, Disclosure, ReportingThe Department of Labor (DOL) issued Field Assistance Bulletin No. 2019-01 which provides guidance and temporary relief related to certain Forms 5500 for multiple employer plans (MEPs) subject to Title I of ERISA. Background A provision in the Cooperative and Small Employer Charity Pension Flexibility Act of 2014 added an additional Form 5500 filing requirement […]
Disclosure, Form 5500, ReportingThe Affordable Care Act added IRC sections §6055 and §6056 which requires insurers, applicable large employers and self-insured plans to provide annual health information returns to the IRS and statements to employees. (See ErisaALERTs 2014-04 and 2014-09 for background information.) The regulations require that the employee statements be provided by January 31 and reported to […]
6055, 6056, ACA, compliance, reporting and disclosureSchedule J of the Proposed Form 5500 – Plan sponsors of group health plans take note! In July, 2016 the Department of Labor (DOL), Department of Treasury (IRS) and the Pension Benefit Guaranty Corporation (PBGC) published proposed regulations in the Federal Register regarding Proposed Revision of Annual Information Return/Reports. What is Schedule J? If the […]
Disclosure, Form 5500, Reporting, Schedule JOn March 11, 2016, the Department of Labor released FAQs about Affordable Care Act Implementation (Part 30) that addresses implementation dates for the proposed Summary of Benefits and Coverage template and associated documents (published on February 26, 2016). (See ErisaALERT 2012-06 for background information). The government intends to act “expeditiously” to finalize the new documents. […]
ACA, HCA, SBCThis is a roundup of information available on the IRS website. The links are working as of the date of this newsletter! Health Coverage Information Return Deadlines https://www.irs.gov/Affordable-Care-Act/Employers/Mark-Your-Calendars-Health-Coverage-Information-Return-Deadlines Action Reporting Due Dates in 2016 for… Applicable Large Employers – Including Those That Are Self-Insured Self-insured Employers That Are Not Applicable Large Employers Coverage Providers – […]
1095-C, ACA, Affordable Care Act, reporting and disclosureErisaALERT 2015-03 EBSA issues final rules and revised db plan funding notice The plan administrator of a defined benefit plan that is subject to the PBGC must provide an annual funding notice to participants and beneficiaries. Final regulations published February 2, 2015 are substantially the same as the November 2010 proposed regulations. Background The Pension […]
DB, Disclosure, funding(c) 2015 Erisa Diagnostics - We focus on benefits, so you can focus on business