Rebecca explains end of the year requirements for employers, including what forms are needed and who should fill them out.
The IRS has released the final version forms and instructions for Forms 1094 and 1095 for calendar year 2019 reporting. Employers are required to report in early 2020 for calendar year 2019. Applicable large employers (ALEs) are generally those with 50 or more full-time employees, including full-time equivalents (FTEs) and must use Forms 1094-C and 1095-C to report information to the IRS and to their full-time employees about their compliance with the employer shared responsibility provisions (“pay or play”) and the health care coverage they have (or have not) offered in a calendar year.
The deadline for distributing these forms to your employees is January 31, 2020 and to the IRS by February 28, 2020. For more information about these forms and reporting requirements, please contact Rebecca here.