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 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, ReportingSchedule 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 JErisaALERT 2014-09 – ACA’s shared responsibility provisions impose penalties on individuals who do not maintain minimum essential coverage (MEC) and on plan sponsors who do not offer minimum value, affordable coverage. The way the IRS will know if an individual has MEC and if an employer offers minimum value, affordable coverage is via the §6055 […]
6055, 6056, ACA, compliance, Disclosure, HCR, ReportingErisaALERT 2013-05 discussed the statutory requirements and the proposed regulations regarding the new reporting and disclosure requirements imposed by the Affordable Care Act (ACA) relating to the individual mandate and shared responsibility. On March 10, 2014 final regulations were issued for §6055 Information Reporting of Minimal Essential Coverage (MEC) and §6056 Information Reporting by Applicable […]
6055, 6056, ACA, Disclosure, ReportingBoth reporting requirements have a delayed effective date of January 1, 2015 (originally effective January 1, 2014) with initial reporting and disclosure in 2016. In September, 2013, the IRS issued proposed regulations regarding ALE reporting as well as MEC reporting which modify the statutory language but leave the door open for increased reporting requirements. Refer […]
ACA, Disclosure, ReportingQuick Summary The IRS has issued the 2009 Form 8955-SSA and extended the due date for the 2009 and 2010 Form 8955-SSA to the later of January 17, 2012 or the due date that generally applies for filing the 2010 Form 8955-SSA. The 2010 Form 8955-SSA has not been issued. The January 17, 2012 due […]
8955 SSA, Form 5500, Form 8955 SSA, IRS, ReportingIn Announcement 2011-21, the IRS announced that Form 8955-SSA, a stand- alone form to be filed with the IRS, is the successor to the Schedule SSA (Form 5500). Form 8955-SSA is used to report terminated participants with deferred vested benefits. For 2009 and 2010 plan years, the Form 8955-SSA is due the later of the […]
8955, Form 5500, Form 8955 SSA, IRS, ReportingEFAST2 What you need to know now! Background You have been hearing about it and now it is here! The 2009 Form 5500 must be filed electronically. In order to file electronically, you must obtain credentials from the Department of Labor even if you already have a user ID and password for EFAST. EFAST2 is […]
5500, EFAST2, Reporting(c) 2015 Erisa Diagnostics - We focus on benefits, so you can focus on business