What are the ACA Reporting requirements under IRC Section 6056?
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Last modified 1/28/2021 8:00:22 AM EST
The Affordable Care Act added section 6056 to the Internal Revenue Code, which requires every Applicable Large Employer (employer having 50+ more full-time equivalent employees) to file health insurance coverage information offered to their full-time employees with the IRS and furnish statements to the enrolled employees on-time.
A full-time employee is one who was employed on average at least 30 hours of service per week or 130 hours of service per month.
To know whether you’re an ALE to meet ACA reporting requirements under section 6056, Check out your ALE status with our ALE status calculator.
Forms used for Reporting
The information reporting requirements under section 6056 requires every Applicable Large Employer to report Form 1094-C and Form 1095-C to the IRS about the health insurance coverage information offered to their employees for each month of the calendar year.
It also mandates the ALE to furnish a copy of Form 1095-C to the enrolled employees.
Deadlines
| Reporting Requirements | Deadline |
|---|---|
| Distribution of Recipient Copy | March 02, 2021 |
| Electronic Filing |
March 31, 2021 |
| Paper Filing |
February 28, 2021 |
If you are an ALE member, required to meet information reporting requirements under IRC section 6056, get in touch with ACAwise. Our team helps you file your ACA Forms with the IRS, State, and even distributes 1095-C copies to your employees on-time. This saves you from the risk of unwanted IRS penalties.