The 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 31, 2020 (if filed electronically) |
No Change |
Note:
No penalty if statements were filed incorrectly or incompletely despite good faith effort. However, there is
no penalty relief if statements not filed at all.
IRS Notice 2019-63 does:
- Extends the due date for furnishing Forms 1095-B and 1095-C to individuals from January 31, 2020, to March 2, 2020. The 30-day good cause extension doesn’t apply
- Does not extend the due date for filing with the IRS. The 2/28/2020 or 3/31/2020 (if filed electronically) remain the same. However, employers and other coverage providers are permitted an automatic 30-day extension by submitting a Form 8809 before the relevant due date.
- Continued relief for incorrect or incomplete statements if a good-faith effort can be shown and filing is timely made.
- No penalty will be assessed under IRC 6722 against reporting entities for failing to furnish a Form 1095-B to individuals if:
- The reporting entity posts a notice prominently on its website state that responsible individuals may receive a copy of their 2019 Form 1095-B upon request. The notice provides an email address and a physical mailing address to which the request may be sent as well as a telephone number where individuals can call for more information.
- The Form 1095-B must be furnished within 30 days of the date the request is received.
- Self-insured plans take note! Penalty relief under IRC 6722 does not extend to the requirement to furnish Form 1095-C to full-time employees. However, penalty relief does apply for employees in a self-insured plan that are part-time for any month of 2019.
- Penalty relief does not apply to requirement to file the Forms with the IRS (1094-B and 1095-B as well as 1094-C and 1095-C)
DON’T FORGET ABOUT STATE REPORTING
New Jersey – beginning with the 2019 tax year, New Jersey requires employers and all other providers of minimum essential coverage to New Jersey residents to verify such coverage. Filers will transmit coverage returns through New Jersey’s system for processing W-2 forms. The filing is due March 31, 2020.
https://nj.gov/treasury/njhealthinsurancemandate/employers.shtml
District of Columbia – District law requires every applicable entity that maintains minimum essential coverage to an individual during a calendar year to file an information return to the Office of Tax and Revenue. For tax years ending December 31, 2019, the filing deadline is June 30, 2020. For tax years beginning after December 31, 2019, the return is due 30 days after the IRS deadline including any extension granted by the IRS. https://otr.cfo.dc.gov/node/1423626
| Disclaimer: This material is for the sole purpose of providing general information and does not under any circumstances constitute legal advice and should not be used as a substitute for legal advice. You should seek the advice of counsel when applying the requirements to your plan. For more information on this ErisaALERT contact us by phone at 610-524-5351 and ask for Mary Andersen at ERISAdiagnostics, Inc. or Sarah Ivy at 610-743-0115 (or email at ski@saxtonstump.com). Mary is a co-author of the Form 5500 Preparers Manual publishes by Wolters Kluwer. |
