The IRS has released the final Affordable Care Act (ACA) reporting forms (Forms 1094-C and 1095-C) for filing next year to cover tax year 2024. Applicable Large Employers, as defined by the Affordable Care Act, are required to file Forms 1094-C and 1095-C to provide the IRS with information about health care offered to employees and furnish a copy of Form 1095-C to each employee to whom it pertains. Employers who fail to furnish statements or file the completed forms by the deadlines may be subject to penalties, which is why preparation is key.
The Deadline to Furnish Form 1095-C to Employees is March 3, 2025.
Employers must provide or “furnish” employees their Form 1095-C by the deadline on Monday, March 3, 2025. Taking into account that the typical due date on March 2 is a Sunday in 2025, the deadline is the following business day.
The Deadline to E-File ACA Returns is March 31, 2025.
Nearly all public agencies are required to file returns electronically. Last year, the Department of the Treasury and the Internal Revenue Service issued final regulations requiring employers to electronically file Forms 1094-C and 1095-C when filing ten (10) or more returns. The final regulations combine all types of returns when counting whether the employer meets the 10-return threshold. The IRS has increased the penalty for failing to file electronically to $330 per return (up from $310).
The deadline to e-file Forms 1094-C and 1095-C is Monday, March 31, 2025. Employers that would like an automatic 30-day extension to file Forms 1094-C and 1095-C must submit Form 8809 on or before the due date of the returns.