October 6, 2020: BAN Legal Alert concerning IRS Extending 2020 ACA Reporting Deadline
Please find below a link to BAN’s Legal Alert on Notice 2020-76, which extends the deadline to provide 2020 Forms 1095-B and 1095-C to employees from January 31, 2021 to March 2, 2021. The deadline for sending the forms to the IRS is March 1, 2021 (March 31, 2021 if filed electronically). As in past years, the IRS has also extended transition relief for errors made in good faith; however, 2020 will be the final year the IRS will provide good-faith transition relief.
This alert is of interest to Applicable Large Employers (employers with 50 or more full-time equivalent employees) and employers of any size with self-insured plans.
