Tax Alert: IRS Finalizes ACA Reporting Forms

The IRS has released final versions of the forms needed for employers to comply with the reporting requirements of the Affordable Care Act. The forms can be found here: 1094-B, 1094-C, 1095-B, and 1095-C.

Importantly, there are two new codes for 2021 Forms 1095-C, that will be used for certain individual coverage health reimbursement arrangements or HRAs. If you have HRA-only offerings, these new codes may be applicable for this year’s 1095s. The vast majority of the rest of the form (both in format and content) has remained unchanged.

Lastly, as discussed in our last ACA Alert, we do not believe that the IRS will be extending the deadline for employers to provide Forms 1095-C to employees, so it is important that you are ready to comply with form furnishing requirements by January 31st 2022.

If you have any questions about this, or any other ACA topic, please contact your First Advantage account manager or your legal counsel. First Advantage will stay abreast of any future updates and continue to keep you informed of the ever evolving healthcare landscape.

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