Friday December 22, 2017 the IRS announced an extension to the deadline for employers to furnish 1095 forms to applicable individuals. The deadline has been extended from January 31, 2018 to March 2, 2018. At this time, the deadline for filing Forms 1094 and 1095 electronically with the IRS has not been extended and remains March 31, 2018. The IRS Notice 2018-06 of the extension can be viewed here.
The IRS has also indicated that the “good faith effort” which applied in 2015 and 2016 will also apply in 2017. This means that an employer who provides their forms to their applicable individuals and to the IRS by the deadlines will not be subject to penalties for incorrect or incomplete forms if it is evident that a good faith effort was made to correctly complete the forms.
What does this mean for you? While this extension provides extra breathing room, our systems are ready for the 2017 filing season and we encourage making every attempt to comply with the original January 31, 2018 deadline. The good faith effort will only apply if the forms are provided to individuals and electronically filed by the respective March 2 and March 31 deadlines.
Need a hand with fulfillment of ACA forms? Sign up before February 1, 2018, and we’ll print and mail 1095-C forms for just $2.00 per form. Sign up here.