Final 2019 ACA Forms 1095-C and 1094-C Released
Told you we would let you know when the final 2019 1095-C forms are out, and here they are!
What Has Changed on the 1095-C Form
There are no significant changes, but here are a few things that have been removed/added to this year's forms:
- There is no longer any reference to the individual mandate penalty, given in 2019 it was reduced to $0;
- There is an indication that the deadline for furnishing forms to employees has been extended to March 2, 2020;
- The IRS states that it has extended "good-faith penalty relief" for those with incorrect or incomplete information returns filed in furnished in 2020; and
- Explanations on some additional Section 6055 penalty relief, in certain circumstances
Again, the reduction of the individual mandate (there has been no repeal, only a penalty reduction) has no impact on an Applicable Large Employer's (ALE) obligation to file.
Furthermore, good-faith penalty does not apply to late forms or any failure to file.
Need ACA Help? We can Build and File Your Pesky 1095-Cs!
Especially for first-time ALEs, building and filing 1095-Cs can be tedious, stressful, and a huge time-burden at the beginning of the year.
Contact our team at Benetech to learn how we can help.