Deadline Extended for Furnishing Forms 1095-C and 1095-B to Individuals

The IRS recently issued Notice 2018-06, which extends the deadline for furnishing 2017 Forms 1095-C and 1095-B to individuals to March 2, 2018. Under the Affordable Care Act (ACA), applicable large employers and employers providing minimum essential coverage are required to file Form 1095-C or 1095-B with the IRS and provide a copy of the same to full-time employees and employees receiving minimum essential coverage. These Forms are generally required to be furnished to individuals by January 31. Notice 2018-06 extends the deadline for furnishing relevant individuals with the Form 1095-C or 1095-B related to 2017 coverage to March 2, 2018. While providing the extension in the Notice, the IRS encourages employers to provide the Forms as soon as the employer is able. The extension provided in the Notice is automatic, and no action need be taken by the employer to receive the extension. Employers should note that the Notice does not extend the deadline for filing the Forms 1095-C or 1095-B with the IRS, which remains February 28, 2018 (April 2, 2018 if filing electronically). In addition to the extension, Notice 2018-06 provides relief from penalties in the case of incorrect or incomplete information on a filed statement or return where an entity can show it made good-faith efforts to comply with the 2017 ACA reporting requirements.