IRS REPORTING DEADLINES EXTENDED AGAIN

IRS Reporting Deadlines Extended Again

The IRS has extended the deadline for employers (reporting entities) to furnish individuals the 2019 Form 1095-B, Health Coverage, and the 2019 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from Jan. 31, 2020, to March 2, 2020.

The IRS also extended the good-faith transition relief from Section 6722 penalties to the 2020 information-reporting requirements under Sections 6055 of the IRS Code provided certain conditions are met.

The relief does not apply to reporting entities that offer self-funded health benefit plans, and their requirement to furnish a Form 1095-C to full-time employees, but does extend relief to the requirement to furnish a Form 1095-C to part-time employees for any month of 2019, provided the following two conditions are met:

• First, the reporting entity posts a notice prominently on its website stating that responsible individuals may receive a copy of their 2019 Form 1095-B upon request, accompanied by an email address and a physical address to which a request may be sent, as well as a telephone number that responsible individuals can use to contact the reporting entity with any questions.
• Second, the reporting entity furnishes a 2019 Form 1095-B to any responsible individual upon request within 30 days of the date the request is received.

The due date for employers filing the 2019 Forms 1094-B, 1095-B, 1094-C and 1095-C with the IRS remains Feb. 28, 2020, if not filing electronically, or March 31, 2020, if filing electronically.