ACA Information Returns May Continue To Be Filed After June 30, 2016
The Internal Revenue Service announced today that ACA Information Returns may continue to be filed after today’s deadline.
If you are an applicable large employer, self-insured employer, or other health coverage provider, the deadline to electronically file ACA information returns with the IRS is midnight ET on June 30, 2016. The ACA Information Returns (AIR) system will remain up and running after the deadline. The IRS is indicating that if you are not able to submit all required ACA information returns by June 30, 2016, you may complete the filing of your returns after the deadline.
The IRS is asking that you note the following:
The AIR system will continue to accept information returns filed after June 30, 2016. In addition, you can still complete required system testing after June 30, 2016.
If any of your transmissions or submissions was rejected by the AIR system, you have 60 days from the date of rejection to submit a replacement and have the rejected submission treated as timely filed.
If you submitted and received “Accepted with Errors” messages, you may continue to submit corrections after June 30, 2016.
In the past, the IRS has publicly stated in various forums in recent months, filers of Forms 1094-B, 1095-B, 1094-C and 1095-C that miss the June 30, 2016, due date will not generally be assessed late filing penalties under section 6721 if the reporting entity has made legitimate efforts to register with the AIR system and to file its information returns, and it continues to make such efforts and completes the process as soon as possible. In addition, consistent with existing information reporting rules, filers that are assessed penalties may still meet the criteria for a reasonable cause waiver from the penalties.
The IRS went on to add that if you are not an electronic filer and you missed the May 31, 2016, paper filing deadline for ACA information returns, you should also complete the filing of your paper returns as soon as possible.
NCW Insurance will continue to provide updates as further information becomes available.
To view today’s IRS announcement: https://content.govdelivery.com/accounts/USIRS/bulletins/152ce7b
Source: HR Workplace Services
Posted on July 6, 2016
by Elizabeth Carter