Blog Layout
2023 ACA Reporting Deadline Reminders
Robyn Carlini • December 7, 2022
2023 ACA Reporting Deadline Reminders
The end of 4th quarter is coming to an end which means it is time for employers to get ready for 2022 ACA reporting cycle and ensure their Affordable Care Act compliance.
Deadlines for Forms 1094-C/1095-C
Applicable Large Employers
must provide statements to their employees by March 2, 2023 (previously January 31, 2023). Those with more than 50 full-time equivalent employees will use the 1095-C form, while employers with less than 50 full-time equivalent employees that have self-funded plans will use the 1095-B form.
Employers must also electronically file the 1094-C or 1094-B (as well as their 1095) forms to the IRS no later than March 31, 2023.
• February 28, 2023:
Paper IRS returns for 2022 are due by this date.
• March 2, 2023:
Individual statements for 2022 must be furnished by this date.
• March 31, 2023:
Electronic IRS returns for 2022 must be filed by this date.
April 30, 2023
Federal ACA Late Filing Penalties: If employers file up to 30 days late, they could be penalized $50 per form. If employers file more that 30 days late, up to August 1, 2023, the penalty increases to $110 per form.
August 1, 2023
If an ALE has not filed forms by this date, the penalty per form increases to $280 per form. If the IRS deems that the deadline was missed intentionally, this could increase to $560 per form.
Reminder: The IRS has discontinued the Good Faith Effort
The IRS has eliminated the good faith relief on submitted documents that had common errors such as, incorrect dates of birth and incorrect tax identification numbers. This means that the IRS will be enforcing a stricter standard as it relates to the accuracy and timeliness of forms.
Contact us
to learn about our ACA reporting solutions to ensure compliance. We have been assisting employers and partners with their filing since the inception of the law and have mitigated millions in IRS penalties.
Have Questions or Need More Information?
Join us to ensure you’re avoiding common mistakes that could lead to costly penalties. With the ACA filing deadline on March 31, 2025, fast approaching, this is your chance to ensure your reporting is error-free and penalty-proof. Join us as our Director of ACA Services, Ashley Pope, disusses how to get ahead of the curve and avoid the pitfalls that many organizations face during filing season.
Join us as SyncStream kicks off 2025 ACA Reporting year with going back to the beginning. This webinar is designed to provide a beginner-friendly approach that revisits the fundamentals of ACA Reporting. Whether you are new to ACA, seeking a refresher, or feeling bewildered by ACA regulations, this webinar is tailored just for you!
As part of the Tax Cuts and Jobs Act (TCJA), the Affordable Care Act’s (ACA) individual mandate penalty was repealed effective January 1, 2019; however, the TCJA did not repeal the employer mandate nor its reporting requirements. Employers should be prepared to respond to IRS Employer Shared Responsibility Provision (ESRP) penalty letters and continue to prepare for 2024 reporting, which will occur in the first quarter of 2025.
2023 ACA Reporting Deadline Reminders
The end of 4th quarter is coming to an end which means it is time for employers to get ready for 2022 ACA reporting cycle and ensure their Affordable Care Act compliance.
Deadlines for Forms 1094-C/1095-C
Applicable Large Employers
must provide statements to their employees by March 2, 2023 (previously January 31, 2023). Those with more than 50 full-time equivalent employees will use the 1095-C form, while employers with less than 50 full-time equivalent employees that have self-funded plans will use the 1095-B form.
Employers must also electronically file the 1094-C or 1094-B (as well as their 1095) forms to the IRS no later than March 31, 2023.
• February 28, 2023:
Paper IRS returns for 2022 are due by this date.
• March 2, 2023:
Individual statements for 2022 must be furnished by this date.
• March 31, 2023:
Electronic IRS returns for 2022 must be filed by this date.
April 30, 2023
Federal ACA Late Filing Penalties: If employers file up to 30 days late, they could be penalized $50 per form. If employers file more that 30 days late, up to August 1, 2023, the penalty increases to $110 per form.
August 1, 2023
If an ALE has not filed forms by this date, the penalty per form increases to $280 per form. If the IRS deems that the deadline was missed intentionally, this could increase to $560 per form.
Reminder: The IRS has discontinued the Good Faith Effort
The IRS has eliminated the good faith relief on submitted documents that had common errors such as, incorrect dates of birth and incorrect tax identification numbers. This means that the IRS will be enforcing a stricter standard as it relates to the accuracy and timeliness of forms.
Contact us
to learn about our ACA reporting solutions to ensure compliance. We have been assisting employers and partners with their filing since the inception of the law and have mitigated millions in IRS penalties.
Receive Our Newsletter
Resources
SyncStream Solutions, LLC is recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® or SHRM-SCP® recertification activities.
Copyright © 2024 SyncStream Solutions, LLC. All Rights Reserved
We use cookies to ensure that we give you the best experience on our website. To learn more, go to the Privacy Page.
×