IRS Releases ACA Form Instructions

September 10, 2014

pic-health-insuranceLast week, the IRS released draft instructions for the forms required by employers under the employer mandate portion of the Patient Protection and Affordable Care Act. While the instructions—and previously released forms are only in draft form and thereby could be subsequently changed—they do give employers the ability to start preparing for the new requirements that go into place in 2015.

The instructions provided cover forms 1095-A, “Health Insurance Marketplace Statement;” Forms 1094-B and 1095-B, “Transmittal of Health Coverage Information Returns” and “Health Coverage;” and Forms 1094-C and 1095-C, “Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns” and “Employer-Provided Health Insurance Offer and Coverage.”

Click here to view draft instructions for Form 1095-A

Click here for the draft Form 1095-A

Click here to view draft instructions for Forms 1094-B and 1095-B

Click here for the draft Form 1095-B

Click here to view draft instructions for Forms 1094-C and 1095-C

Click here for the draft Form 1095-C

The IRS has stated that the form and instructions will be finalized later this year, but no definitive date has been released. The complexity and volume of this new reporting requirement is likely to cause more than a few headaches among small-business owners.