Another due date extension from the IRS for Employee Health Coverage Forms
The IRS has announced, on December 22, 2017, that the due date to furnish health coverage information forms (Forms 1095-B or 1095-C) has been extended for 2018. Insurers, self-insured employers, other coverage providers and applicale large employers (ALEs) will now have until March 2, 2018 (the original date was January 31, 2018) to provide the necessary forms to employees.
These forms outline the health care coverage that was offered to employees and covered individuals. Individuals may use the information provided on the form to determine if they are able to claim the premium tax credit on their individual income tax returns based on whether they had coverage in each month in 2017.Â However, the Forms 1095-B or 1095-C are not a requirement when filing an individual tax return.
For employers, this is an automatic extension, and there are no requirements to take advantage of this IRS due date extension.
Please keep in mind, as an employer, you are also required to file information returns with the IRS for 2017, and the due date for these filings have not been extended.Â Information returns must be filed by February 29, 2018 if filing paper, and April 2, 2018 if filing electronically.
Visit the IRS website for more about this 30-day extension announcement.
For more information regarding Health Coverage Forms, and/or Employee Benefits for your organization, or to speak with one of our advisors, email Jason Della Penna, Senior Vice President at Brown & Brown Benefit Advisors at firstname.lastname@example.org.