Greenshades Blog


IRS extends tax year 2018 1095-C deadline

Posted on November 30th, 2018

Brittany Llorente

By Brittany Llorente
Media Marketing Associate

 

It looks like Christmas came a little early this year for some tax preparers.

As in previous years, the IRS has gifted payroll departments across the nation an extension on the deadline for the 1095-C form.

This notice was sent via an IRS news email (and via their publication directory) on 11/29/2018.

“This notice extends the due date for certain 2018 information-reporting requirements for insurers, self-insuring employers, and certain other providers of minimum essential coverage under section 6055 of the Internal Revenue Code (Code) and for applicable large employers under section 6056 of the Code.  Specifically, this notice extends the due date for furnishing to individuals the 2018 Form 1095-B, Health Coverage, and the 2018 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from January 31, 2019, to March 4, 2019.  This notice also extends good-faith transition relief from section 6721 and 6722 penalties to the 2018 information-reporting requirements under sections 6055 and 6056.”

So, what does this mean for you as an employer?

The deadline for furnishing the 1095-B (Health coverage) and the 1095-C (Employer-Provided Health Insurance offer and coverage) to an employee is extended from January 31, 2019 to the new deadline of March 4, 2019.

However, the deadline for filing to the IRS is February 28, 2019 (or April 1, 2019 if filing electronically – March 31 falls on a Sunday in 2019).

“The regulations under section 6055 require every person that provides minimum essential coverage to an individual during a calendar year to file with the Internal Revenue Service (Service) an information return and a transmittal on or before the following February 28 (March 31 if filed electronically) and to furnish to the responsible individual identified on the return a written statement on or before January 31 following the calendar year to which the statement relates.  See Treas. Reg. § 1.6055-1(f), (g)(4); see also § 6055(c)(2).  The Service has designated Form 1094-B, Transmittal of Health Coverage Information Returns, and Form 1095-B, Health Coverage, to meet the requirements of the section 6055 regulations.

The regulations under section 6056 require every applicable large employer or a member of an aggregated group that is determined to be an applicable large employer (ALE member) to file with the Service an information return and a transmittal on or before February 28 (March 31 if filed electronically) of the year following the calendar year to which it relates and to furnish to full-time employees a written statement on or before January 31 following the calendar year to which the statement relates.  SeeTreas. Reg. § 301.6056-1(e), (g); see also § 6056(c)(2).  The Service has designated Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, and Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, to meet the requirements of the section 6056 regulations.”

For more information and to read the full notice, click here.