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FAQ for New ACA 1095 Forms

What is ACA Reporting and How Businesses File

Q: What is ACA reporting?

A: Certain U.S. businesses are now required to report employee health plan coverage information to the IRS.

Beginning January 2016, regulations under the Affordable Care Act (ACA) will require employers to file annual 1095 or 1094 information returns with the IRS and deliver employee statements with health plan coverage information. This is in addition to Form W-2 reporting requirements.

ACA Forms 1095 and 1094 Requirements

ACA 1095 FormsQ: What is the purpose of ACA Forms reporting?

A: Communicate details of employees’ health insurance coverage, including verification that the minimal coverage requirement has been met.

Q: Who must report and send copies to employees?

Employers with 50 or more employees, knows as ALEs or Applicable Large Employers must file 1095 Forms
Self-insured employers with fewer than 50 employees must file 1094 Forms.
Health insurance companies must also file with 1094 Forms.

Q: How many copies of the 1095-B or 1095-C do I need?

A: As a general rule, employers who paper file will need three copies: One for the IRS, one for the employee and one for your records. Employers who e-file will only need two copies since the IRS will receive an electronic copy.

Q: Can businesses outsource this function?

A: Yes. A third party, like a payroll company, may complete reporting requirements but liability remains with the employer.

Buy ACA 1094 FormsQ: What are the fines for failing to report?

A: If an employer fails to file and issue statements to covered individuals, they may face penalties of $250 per filing up to $3.0 million.

Q: Are there electronic filing options available?

Yes, we have 2015 ACA Software available. This software provides all the tools you need to create and print your forms – and even electronically file with the IRS.

Q: What is the authoritative transmittal?

You can file multiple transmittal forms. But the authoritative transmittal is the final transmittal representing the total filings you’re submitted for the season.

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