IRS Extends Certain ACA Reporting Deadlines

On December 15, 2022, the IRS released a final rule permanently extending the ACA deadlines for furnishing forms to individuals by 30 days. This means the next deadline, which is for the 2022 plan year, for furnishing forms to individuals will be March 2, 2023, as opposed to January 31, 2023.

Background

The Affordable Care Act added sections 6055 and 6056 to the Internal Revenue Code which require employers to file information returns and furnish statements to individuals about their health insurance coverage.

The deadline for certain 6055 and 6056 requirements has been January 31 for the furnishing of the previous year’s forms, meaning 2021 information would be due January 31, 2022. However, these deadlines have consistently been extended over the years; this change now makes the 30-day deadline extension permanent.

Important Note

The deadline for submitting forms to IRS remains February 28 for paper filing and March 31 for electronic filing.

The information contained herein is for informational purposes only and is not intended as legal or tax advice.