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December 2018: IRS Extends 2018 Reporting Due Dates

Business Insurance

 

IRS Extends 2018 Reporting Due Dates for 1095 Forms Sent to Individuals

On November 29, 2018, the Internal Revenue Service (IRS) announced extended deadlines for 2018 Minimum Essential Coverage (Section 6055) and Large Employer Shared Responsibility (Section 6065) reporting due to individuals in early 2019. The extended deadlines are as follows:
 
2018 Forms Sent to Individuals Original Deadline Extended Deadline
Form 1095-B
Form 1095-C
1/31/2019 3/4/2019

 

Employers and insurers are encouraged to provide the forms to individuals as soon as possible, but no later than March 4, 2019. Individuals who file their 2018 federal income tax returns before receiving their 1095-B and 1095-C forms will not be required to amend their income tax returns once they receive their forms. They should keep their forms, once received, with their tax records.

It is important to note the IRS has not extended the due date for filing 2018 Forms 1094-B, 1095-B, 1094-C, or 1095-C with the IRS. The deadline remains February 28, 2019, for those with 250 or fewer forms filing by paper, or April 1, 2019, if filing electronically.

The IRS also extended its transition relief with respect to penalties if good faith efforts are made to comply with information reporting requirements.

 

 

Additional articles from the December 2018 edition of the Univest Employee Benefits Newsletter:

  1. Aetna Becomes a Part of CVS Health
  2. Don't Forget to Provide an SBC This Open Enrollment
  3. Options for HRAs Would Be Expanded Under Proposed Rule
  4. What Are You Doing to Prevent the Flu?
  5. How to Conduct 1-on-1 Benefits Meetings

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