Notification to clients regarding filing Forms 1094-C and 1095-C to Employees
These forms are part of the Employer-Provided Health Insurance rules under the ACA (Health Care Act).
They are now required to be filed by employers – including Non-Profit entities that employ 50 or more Full Time Equivalent (FTE) employees.
The 1095-C Form is a Transmittal form to each employee providing information on the health insurance coverage provided by the Employer. It should include the information of the amount of coverage, and the months of coverage for the year.
Employers that offer Employer-sponsored self-insured coverage also use these forms for their employees.
The 1094-C Form is a Transmittal form to IRS summarizing the individual Forms 1095-C (much like a 1096 Form).
These forms were optional for 2014, but are now REQUIRED for 2015. There is a penalty for not providing each employee with a form and for not submitting a copy with the 1094-C to the IRS. The fine is $250 for each 1095-C not provided to employees.
The deadline for providing employees with the Form 1095-C is February 29, 2016.
Instructions – forms 1094-C and 1095-C
This notification brought to you by Schutte & Hilgendorf, PLLC, CPA’s, a Prescott firm serving the greater Yavapai County, providing audit, accounting, bookkeeping, tax preparation and planning, QuickBooks accounting and setup to individuals, non-profits and businesses.
Contact us for a free initial consultation at (928) 778-0079.