Similar to last year, the Internal Revenue Service has given employers an additional holiday gift – an extension of the deadlines for delivery (but not filing) of 2017 Forms 1094 and 1095.
ACA INFORMATION REPORTING
As outlined in our prior alert, ACA Year-End Reporting (found here), all employers who qualify as applicable large employers (ALEs), and all insurers and self-insured employers, are required to provide certain information statements to individuals and file certain reports with the IRS. For the 2017 reporting year, the deadlines by which forms must be provided to individuals has been extended, but the dates for IRS filings by employers and insurers have not been extended, as follows:
GOOD FAITH COMPLIANCE TO AVOID PENALTIES
Last year's extension also provided that penalties for incorrect or incomplete information on the forms were waived if employers could show good faith efforts to comply with the information reporting requirements. This has now been extended for the 2017 filings to be made in 2018. There is no relief for failures to file. So, again, it is better to file with a best effort than not to file.
Unlike prior extensions, this year's extension concludes with the IRS's statement that they do not anticipate extending any transition relief next year for the 2018 reporting and filings.