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The Internal Revenue Service (IRS) has
issued further instructions for 2020 reporting forms 1094-B,
1094-C, 1095-B, and 1095-C.
The instructions are as follows:
- The due date for providing
Form 1095-C to employees has been extended from January 31, 2021, to
March 2, 2021.
- If certain conditions are
met, the IRS will not impose a penalty for failure to furnish Form
1095-C to any employee enrolled in an Applicable Large Employer (ALE)(50 or more Full Time Equivalent Employees) member's self-insured health plan who is not a full-time employee for
any month of 2020.
- The IRS will not impose a
penalty for failure to file Form 1095-C with the IRS or failure to
furnish Form 1095-C to employees if you make a good faith effort to
comply with the information reporting requirements.
- Form 1095-C has been modified
with new codes for reporting offers of individual coverage HRAs (ICHRAs)
and new lines for reporting required information.
- The plan start month is
required for the 2020 Form 1095-C. The ALE must enter a two-digit
number.
- Group Benefit Services can also help with this requirement for a fee. If you need assistance, please do not hesitate to contact me at 410-239-5009.
Use the links below to access copies of the
instructions.
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