ACA Elevate – 6055 & 6056 Reporting
The ACA remains the law of the land for 2017
The GOP’s Latest Obamacare Repeal Bill Is Dead. Republicans decided not to vote on the measure because they didn’t have enough support to pass it.
Secure your compliance partner for 2017 ACA Reporting NOW! Do not delay, like last year, we will be closing our doors early due to the overwhelming demand in service! Request a proposal today
Overwhelmed by ACA Reporting Requirements? The Affordable Care Act (ACA) imposes demanding information reporting responsibilities on employers in the 2017 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 will result in numerous and expensive fines for employers. Ensure you meet the reporting deadlines and avoid costly IRS fines and penalties for 2017! No Free Pass on Penalties for 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 2017 Reporting Year and after!
ACA Elevate – An Automated Solution for Employers Simply upload an MS Excel workbook and BASIC’s ACA Elevate will generate the pertinent forms (1094-B, 1095-B, 1094-C, and 1095-C) and file electronically. BASIC specializes in compliance, and we have for 28 years. Since 2015, we’ve helped all types of companies comply with ACA, by furnishing over 400,000 forms.
- Self-insured and Fully-insured
- Mid-year benefit renewal
- Multiple companies filling as a controlled group
- Union and Non-union Environments
Introducing BASIC’s ACA Transact A self-admin solution for larger employers that have the internal resources and IT support to gather and code the necessary data on their own.
Employers downloads our Excel template to simplify their data entry. Our template provides predefined columns for all the required employee data. This allows them the ability to copy and paste data from multiple sources or systems, or simply fill in the fields directly before uploading into basicacatransact.com
To learn more about ACA Transact, download the brochure here!
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