Employers should keep in mind that the 2021 deadlines for 2020 ACA reporting are looming.
Every year since 2015, the IRS requires that Applicable Large Employers, companies with over 50 full time equivalent employees, are required to offer affordable coverage to their eligible employees, and furnish 1095-C forms to employees and a 1094-C form to the IRS.
March 1, 2021
The ACA
The deadline to paper file forms 1094-C and 1095-C for the 2020 reporting year.
This is for employers filing less than 250 forms who elect to paper file. The forms must be in the correct format.
March 2, 2021 (extended deadline)
An ALE member must furnish a form 1095-C to each of its full-time employees by March 2, 2021.
March 31, 2021
This is the deadline to electronically file forms 1094-C and 1095-C for the 2020 reporting year.
Also, deadline for the New Jersey State Filing and California State Filing.
April 30, 2021
Deadline for District of Colombia Filing.
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, 2021, the penalty increases to $110 per form.
August 1, 2021
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.
SyncStream Solutions has a team of experts that have experience in assisting companies with their ACA requirements, as well as responding to penalty letters. Our team of experts have been with SyncStream Solutions since the inception of the ACA.
Contact SyncStream to Learn More
At SyncStream, we’re dedicated to helping employers achieve compliance with ACA and EEOC reporting requirements. To find out how we could simplify EEO-1 reporting for your organization and save you money, fill out our online contact form or call 877-291-9256 today.
Employers should keep in mind that the 2021 deadlines for 2020 ACA reporting are looming.
Every year since 2015, the IRS requires that Applicable Large Employers, companies with over 50 full time equivalent employees, are required to offer affordable coverage to their eligible employees, and furnish 1095-C forms to employees and a 1094-C form to the IRS.
March 1, 2021
The ACA
The deadline to paper file forms 1094-C and 1095-C for the 2020 reporting year.
This is for employers filing less than 250 forms who elect to paper file. The forms must be in the correct format.
March 2, 2021 (extended deadline)
An ALE member must furnish a form 1095-C to each of its full-time employees by March 2, 2021.
March 31, 2021
This is the deadline to electronically file forms 1094-C and 1095-C for the 2020 reporting year.
Also, deadline for the New Jersey State Filing and California State Filing.
April 30, 2021
Deadline for District of Colombia Filing.
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, 2021, the penalty increases to $110 per form.
August 1, 2021
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.
SyncStream Solutions has a team of experts that have experience in assisting companies with their ACA requirements, as well as responding to penalty letters. Our team of experts have been with SyncStream Solutions since the inception of the ACA.
Contact SyncStream to Learn More
At SyncStream, we’re dedicated to helping employers achieve compliance with ACA and EEOC reporting requirements. To find out how we could simplify EEO-1 reporting for your organization and save you money, fill out our online contact form or call 877-291-9256 today.
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