Employer Reporting Forms Are Here…. Instructions NOT Included!

The long awaited Employer Reporting Forms are finally here. But if you want to know which forms are to be filled out and by whom and where to send them and when… well those are questions to be answered on another day. I know, a delay in finalizing a regulation of health care reform is shocking. I hear you. I guess if we continue to look at the silver lining, we are all learning patience. I once heard someone say if you pray for patience God will not just give you patience, He will put you in situations where your patience is tested so you can practice it and perfect it. Perhaps far too many of us were praying for patience!!!

All the same, the DRAFT reporting forms were released by the IRS late Thursday, July 24th. You can find them on the IRS website. Again, I cannot tell you specifically which forms are to be filled out or by whom, but at least we can take a look at what is to come. The IRS has stated that the instructions will follow, most likely by the end of August.

Remember, the employer form(s) will be completed by groups with 100 or more employees beginning in 2015 and submitted some time in 2016. For groups with 50 – 99 employees, you continue to have another year of reprieve and will not have to start tracking this information until 2016 with the first submission date being in 2017.

The new draft forms are:

Form 1094-B            Transmittal of Health Coverage Information Returns

Form 1094-C             Transmittal of Employer-Provided Health Insurance Offer & Coverage Information Return

Form 1095-A            Health Insurance Marketplace Statement

Form 1095-B            Health Coverage

Form 1095-C            Employer Provided Health Insurance Offer and Coverage

Form 8962                Premium Tax Credit

Form 8965                Health Care Coverage Exemptions

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