Health Reform WK-EDGE IRS updates FAQs reflecting 1095-B, 1095-C transition relief
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Friday, February 23, 2018

IRS updates FAQs reflecting 1095-B, 1095-C transition relief

By Lauren Bikoff, MLS

The IRS has updated its Question and Answers on Information Reporting by Health Coverage Providers website to reflect the transition relief provided by IRS Notice 2018-06. Specifically, the IRS notes that it has extended the 2018 due date for furnishing 2017 Forms 1095-B and 1095-C to individuals, but has not extended the due date for filing the forms with the IRS. Notice 2018-06 extended the due date for furnishing the 2017 forms to individuals from January 31, 2018, until March 2, 2018.

Background. Health insurers and applicable large employers (ALEs) are required, by Code Secs. 6055 and 6056, respectively, to file and furnish annual information returns and coverage statements. Employers and providers must furnish Forms 1095-B and 1095-C to employees or covered individuals regarding the health care coverage offered to them. The forms may help recipients determine whether they may claim the premium tax credit on their income tax returns. However, taxpayers do not have to file these forms with their returns; thus, they may prepare and file their returns before they receive their Forms 1095-B or 1095-C.

Transition relief. The extension is automatic, so employers and providers do not have to request it. The due dates for employers and insurers to file 2017 information returns with the IRS are not extended. They are still due on February 28, 2018, for paper filers, and April 2, 2018, for electronic filers.

The IRS also notes in the FAQs that Notice 2018-06 did not affect the rules concerning the reduction of penalty amounts for 207 reporting under Secs. 6055 or 6056.

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