ACA Elevate – 6055 & 6056 Reporting
Now accepting clients for the 2016 Reporting Year!
Do not delay, like last year, we will be closing our doors early due to the overwhelming demand in service! Secure your spot and sign-up now for 2016 Late Filing Service. Request a proposal today
Overwhelmed by ACA Reporting Requirements?
The Affordable Care Act (ACA) imposes demanding information reporting responsibilities on employers in the 2016 calendar year. The reporting stipulation states that an information return will be prepared for each applicable employee, and these returns must be filed with the IRS using a single transmittal form (Form 1094-B & 1095-B or Form 1094-C & 1095-C). The filing requirements are based on an employer’s health plan and number of employees. Inability to file or report correctly with result in numerous and expensive fines for employers. Ensure you meet the reporting deadlines and avoid costly IRS fines and penalties for 2016!
No Free Pass on Penalties for 2016 Reporting!
- IRS can assess $250 penalty per return for late, incomplete or incorrect forms
- In addition to filing reports with the IRS, the ACA requires employers to provide certain forms to employees, similar to the existing W-2 reporting requirements. It is important for employers to be aware that the penalties apply separately to both requirements. For example, a failure to file a Form 1095-C with the IRS and a failure to furnish the same Form 1095-C to the employee will result in two penalties of $250 each, or $500 per affected employee.
- IRS will grant relief for incomplete or incorrect returns for first year if good faith effort… but not for the 2016 Reporting Year and after!
ACA Elevate – An Automated Solution for Employers
BASIC’s ACA Elevate is a stand-alone solution that generates applicable Forms 1094-B, 1095-B, 1094-C and 1095-C forms and electronic filing with simple uploads of a MS Excel workbook. ACA Elevate offers 2 different solutions to ensure every employer remains compliant with the 6055 and 6056 reporting requirements.
BASIC specializes in compliance, and we have for 27 years. In 2015, we helped all types of companies comply with ACA, by furnishing over 200,000 forms.
- Self-insured and Fully-insured
- Mid-year benefit renewal
- Multiple companies filling as a controlled group
- Union and Non-union Environments
- Tracking hours to determine Full Time Eligibility (FTE)
Which ACA Elevate option is best for your company?
To learn more about BASIC’s ACA Elevate Service Options, download the brochure!
Introducing BASIC’s 2016 Compliance Package
Receive the benefits of both ERISA Essentials and ACA Elevate with our new *2016 Compliance Packages. Packages include the full ERISA Client Manual along with 6055/6056 Reporting and Filing services to ensure your company is 100% compliant! Request a 2016 Compliance Package Proposal for Your Company Now!
*For New ACA Elevate & ERISA Essentials Clients Only
2016 Compliance Packages
Receive the benefits of both ERISA Essentials and ACA Elevate with our new *2016 Compliance Packages. Packages include the full ERISA Client Manual along with 6055/6056 Reporting and Filing services to ensure your company is 100% compliant!
- See more at: https://www.basiconline.com/employer-compliance/#sthash.FCHX0nqs.dpuf