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Earlier today, the Internal Revenue Service (IRS) announced that it would give self-insured and applicable large employers additional time to comply with the 6055 and 6056 reporting requirements for 2015. In Notice 2016-4, the IRS said that “additional time to adapt and implement systems to gather, analyze, and report” the required information was needed by employers, insurers, and other providers. This is good news for employers that are subject to the new reporting requirements.

The deadline for employers to electronically file 1094 forms for 2015 was extended by three months from March 31, 2016 to June 30, 2016 while the deadline for filing by paper was also extended by three months from February 29, 2016 to May 31, 2016. The deadline for providing employees with form 1095B or 1095C for 2015 was also extended from February 1, 2016 to March 31, 2016.

In the coming weeks, JME will be passing on additional information regarding the employer reporting requirements. In short, companies that are self-insured (regardless of size) and applicable large employers (with 50 or more full-time equivalent employees, including companies that are part of an aggregated applicable large employer group) are subject to one or both of the requirements.

Source for information about today’s announcement: National Association of Health Underwriters