IRS Extends ACA Individual Statement Deadline (Form 1095) from January 31 to March 2

November 20, 2016

In Notice 2016-70, IRS extends the 2017 deadline from January 31 to March 2 for employers and insurers to furnish individual statements on 2016 health coverage and full-time employee status (Forms 1095-B and 1095-C). The notice also extends 2015 good-faith penalty relief to 2016 for incorrect or incomplete reports due in 2017.

In the Notice, the IRS did not extend the due date for filing the forms with the IRS  February 28 (if filing by paper) or March 31 (if filing electronically).

Please remember that  filers can take advantage of an automatic 30-day extension of the IRS filing deadline  by submitting Form 8809 before the relevant due date.

Lastly, IRS extended the good-faith relief in Notice 2016-70 that applied to in 2015 to 2016. This relief applies to missing and inaccurate taxpayer identification numbers and dates of birth, as well as other information required on the return or statement. To show good faith efforts to qualify for this relief, filers must meet applicable deadlines. However, IRS recognizes that late filers may still be able avoid penalties by showing reasonable cause for missing the due dates.

For a copy of Notice, please click on the link below: 

Article provided by, Larry Grudzien, Attorney-At-Law