Monday, December 10, 2018
The IRS* announced that it has extended the due date for employers to furnish Forms 1095 to employees, from January 31, 2019 to March 4, 2019. Large employers (50 or more full-time employees, including equivalents) and self-insured employers (of any size) now have an additional 32 days to furnish employees or covered individuals with information statements regarding 2018 health coverage.
While the extension of the deadline to furnish forms provides busy employers with a bit of breathing room at year’s end, employers must remain diligent. The notice does not extend the due dates for filing 2018 information returns with the IRS using Form 1094.
For paper filing (permitted for fewer than 250 individual statements), the due date remains February 28, 2019. The deadline for electronic filing (mandatory for 250 or more individual statements) remains April 1, 2019.
In previous years, employers were given good faith relief from penalties for reporting incorrect or incomplete forms, and Notice 2018-94 extends that relief to 2018 tax year filing.
No good faith relief is available for failure to file an information return or furnish a statement by the due dates (as extended). Filers must still show reasonable efforts to prepare for the reporting.
As always, American Fidelity is committed to providing our customers with up-to-date information on employee health and welfare benefits compliance. For more information about this and other regulatory developments, visit our website at HCReducation.com.
*Internal Revenue Service