ACA reporting – what to know and when to file

What are Forms 1094 / 1095?

Forms 1094 / 1095 are used by employers and health insurance carriers to report coverage and enrollment information to the Internal Revenue Service (IRS) and benefit-eligible employees.

When is the deadline to submit these forms?

Employers filing ten or more returns of any type for the year must electronically file Forms 1094 and 1095 with the IRS by March 31, 2025. Those with nine or fewer information returns for the year can file by mail through February 28, 2025. If an extension is needed, employers can file Form 8809 to receive an additional 30 days to file.

How have ACA reporting processes been updated?

Passage of the Employer Reporting Improvement Act and the Paperwork Burden Reduction Act modified the ACA employer reporting processes. Notable updates include

• employee notice revision. Starting in 2025, employers are no longer required to distribute Forms 1094 / 1095 to all benefit-eligible employees but rather can provide the forms upon request. Form requests should be completed within 30 days of an employee’s inquiry, or penalties could apply. Employers may still proactively issue the employee forms.
• electronic statement delivery. Employees may provide employers affirmative consent to receive forms electronically.
• Taxpayer Identification Number (TIN) substitution. An employee’s full name and date of birth may be substituted for the employee’s TIN on both 1095-B and C Forms if the employer is unable to collect the employee’s information.

With the ever-evolving employee benefits landscape, employers have their work cut out to remain compliant. Teaming up with the right employee benefits consultant can relieve some of the burdens employers face. Bukaty Companies is a trusted source for helping employers remain ahead of the compliance curve. For help evaluating your employee benefits needs or for a compliance check audit contact us today.