IRS Extension for Furnishing ACA Forms, End of ‘Good Faith’ Relief

In previous years, the IRS has extended the due date for specific Affordable Care Act (ACA) information reporting requirements for insurers, self-insured plan sponsors, and “applicable large employers” (ALEs). This year, the IRS has not issued an extended due date for furnishing Forms 1095-C and 1095-B to individuals. Instead, on November 22, 2021, they issued new proposed regulations which provide a permanent, automatic extension of the deadline for furnishing Forms 1095-C and 1095-B to individuals from January 31, 2022, to March 2, 2022. While these proposed regulations have not been finalized, employers can rely on these regulations beginning with the reporting year 2021.

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