IRS Extends Due Date for ACA Forms

On November 18, the IRS issued Notice 2016-70, which extends the due date to send individuals the 2016 Form 1095-B, Health Coverage, and the 2016 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from January 31, 2017 to March 2, 2017. Therefore, it will not be necessary for taxpayers to request an extension for sending those forms to the recipients, and no further extensions are available.

The IRS did not, however, extend the deadline for filing these forms with the IRS. The forms, along with Form 1094-B or 1095-B, as applicable, must still be filed with the IRS by February 28, 2017 (for those filing less than 250 forms on paper) and March 31, 2017 (for those filing electronically). An automatic 30-day extension is available for filing the forms with the IRS by completing Form 8809. The IRS also extended its relief from penalties under Sections 6721 and 6722 for taxpayers that make a good faith effort to comply with the 2016 reporting requirements, provided statements are furnished to individuals and filings are made with the IRS on a timely basis.

Please contact your HBK representative with any questions.