The IRS has released final instructions for the Affordable Care Act (ACA) information reporting forms for 2022. (The final forms and draft instructions were released in October—see our Checkpoint article). As a reminder, Forms 1094-B and 1095-B are filed by minimum essential coverage providers (such as health insurers and employers sponsoring self-insured health plans) to report coverage information in accordance with Code § 6055. Forms 1094-C and 1095-C are filed by applicable large employers (ALEs) to provide information that the IRS needs to administer employer shared responsibility penalties and eligibility for premium tax credits, as required under Code § 6056.
The forms are essentially unchanged from 2021 (see our Checkpoint article), and the final instructions do not identify any changes to the information reported on the forms. For calendar year 2022, Forms 1094-B and 1094-C (transmittals with statements) are required to be filed with the IRS by February 28, 2023, or March 31, 2023, if filing electronically. (Filers may extend these deadlines by application to the IRS using Form 8809.) The threshold for mandatory electronic filing with the IRS remains at 250 returns, applied separately to each type of return and to original and corrected returns. The instructions incorporate an automatic 30-day extension—from January 31 to March 2, 2023—for furnishing Forms 1095-B and 1095-C (statements) to individuals.
EBIA Comment: The instructions are consistent with recently issued final regulations (see our Checkpoint article) that permanently extend the deadline for furnishing a given year’s Forms 1095-B and 1095-C to individuals until 30 days after January 31 of the immediately following year (or the next business day, if the 30th day falls on a Saturday, Sunday, or legal holiday). (The extension generally aligns with extensions that have been granted for each year since the reporting requirements took effect.) On the other hand, the 250-return threshold for electronic filing differs from separately proposed regulations that would reduce the filing thresholds and aggregate different return types (see our Checkpoint article). For more information, see EBIA’s Health Care Reform manual at Sections XXVIII (“Shared Responsibility for Employers (Play or Pay Penalty Tax)”), XXXVI.C (“Information Reporting of Minimum Essential Coverage (Insurers and Employers That Self-Insure)”), and XXXVI.D (“Information Reporting of Employer-Sponsored Coverage (Applicable Large Employers)”). Also watch for the upcoming update to EBIA’s Form 1094/1095 Workbook, including Sections IX (“Furnishing Employee Statements”) and X (“Filing With the IRS”).
Contributing Editors: EBIA Staff.