As employers prepare for ACA filings, be sure to remind them of the following 2022 ACA deadlines to help minimize the risk of receiving IRS penalties.
February 28, 2022: Employers must paper file their 2021 Forms 1094C & 1095C with the IRS no later than this date.
March 2, 2022: Employers must furnish Forms 1095-C to full-time employees no later than March 2, 2021. This date was originally January 31, 2022, but the IRS has since issued an automatic extension.
March 31, 2022: Employers must electronically file the 2021 Forms 1094-C and 1095-C with the IRS no later than this date. (As a note, for California employers, this is also the deadline for Pay Day Reporting.)
Failing to meet these deadlines can result in penalties under issued by the IRS.
The IRS also issues penalties to employers that fail to comply with the ACA’s Employer Mandate. As a reminder to employers in conjunction with the Employer Shared Responsibility Payment, the ACA’s Employer Mandate, Applicable Large Employers (ALEs), organizations with 50 or more full-time employees and full-time equivalent employees, are required to offer Minimum Essential Coverage to at least 95% of their full-time workforce (and their dependents) whereby such coverage meets Minimum Value and is affordable for the employee or be subject to Internal Revenue Code (IRC) 4980H penalties.