IRS and Reporting Information

Extended IRS and Reporting Information You Need to Know

Individuals and employers have more time to report the health insurance coverage for 2015.

On December 28, 2015, the Internal Revenue Service (IRS) announced that the reporting requirement deadlines for 2015 will be extended for the following:

  • LargeEmployer Shared Responsibility and Minimum Essential Coverage (MEC).  They are now required to be completed in early 2016.
  • Form 1095-B and Form 1995-C and the Report Forms (for individuals) are extended from 2/1/16 to 3/31/16.
  • Form 1094-B, 1095-B, 1094-C & 1095-C that were filed with the IRS, the deadlines for paper filing has been moved from 2/29/16 to 5/31/16 and the electronic filing deadline was moved from 3/3/16 to 6/30/16.

The IRS is prepared to accept reports that are filed starting in January 2016. Insurers and employers are encouraged to provide the forms to individuals so that the reports can be filed as soon as possible.

No other extensions are expected to be granted. Insurers and employers who do not meet the extended deadlines will typically face penalties. For 2015, individuals who file their federal income tax returns before they receive their 1095-B and 1095-C forms will not have to amend their income tax returns when they do receive the forms. However, they should keep the forms with their tax records when they are received.