Dates: February 28, 2022 (Paper Filings) or March 31, 2022 (Electronic Filings)
The IRS announced proposed rules related to ACA reporting requirements for 2021 (IRC Sections 6055 and 6056).
Here are the changes and deadlines employers need to be aware of:
First, the good faith penalty relief was not extended for 2021. This means that penalties can now be assessed on employers that report incorrect or incomplete information on their ACA reporting.
Second, the deadline for distributing 1095-B and C forms to employees was automatically extended 30 days past January 31, which means March 2, 2022, is the date by which 1095-C and B forms must be distributed to individuals. This gives employers an extra 30 days to issue 1095 forms to employees.
1095-B forms are not required to be distributed to individuals if the employer posts a notice on their website that the document is available upon request and provides the form within 30 days. However, employers must still populate these forms and file them with the IRS. Note that 1095-C Forms must still be provided for applicable large employers.
The deadlines for filing ACA reports with the IRS, however, will remain the same. As a reminder, paper filings are due to the IRS by February 28, 2022, and electronic filings are due as of March 31, 2022. Filers can apply for an extension with the IRS by submitting Form 8809 prior to the filing due dates.