Benefits Buzz - May 2018

Did You Miss the April 2 ACA Reporting Deadline? Here’s What’s Next. The Affordable Care Act (ACA) created reporting requirements under Internal Revenue Code Sections 6055 and 6056 that require certain employers to provide information to the IRS about the health plan coverage they offer (or do not offer) to their employees. The annual deadline for the 2017 calendar year was Feb. 28, 2018, or April 2, 2018 (March 31, 2018, being a Saturday), if filed electronically. Missing this deadline can result in severe penalties of $260 per return with a maximum penalty of $3,218,500 per organization.

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