Tomorrow is the ACA 1095 Recipient Copy Deadline – What’s Next if Your Business isn’t Ready?

Today is a major ACA reporting deadline for the 2023 tax year. If your business has missed this milestone, here are some tips for course correcting in time to maintain IRS compliance.

The ACA reporting season is winding down because the deadlines have arrived! Tomorrow is the IRS deadline to distribute copies of ACA Forms 1095-B and 1095-C to recipients and employees. 

While this isn’t the same as the deadline to e-file with the IRS, this deadline is an important component of successful ACA reporting.

Your business may have missed the deadline, or maybe you’re unsure whether ACA reporting is a requirement for you. In this blog, we’ll cover the specifics of the upcoming ACA deadlines, indicators that ACAwise is a great fit for your business, and the free tools we offer to help you determine your requirements. 

A Brief Overview of the ACA Reporting Deadline

The ACA 1095 Recipient Copy Deadline is a critical milestone in the Affordable Care Act (ACA) compliance calendar. It’s the day by which businesses are required to furnish employees and other recipients with their copies of Form 1095, detailing essential health coverage information.

So, who is typically required to complete, file, and distribute Forms 1095-B or 1095-C? 

ACA Forms are typically filed by providers of health insurance coverage and Applicable Large Employers (ALE). The IRS defines an ALE as a business with 50 or more employees that either work full-time or full-time equivalent. 

Free Guide: To learn more about ACA reporting requirements from the IRS, check out our free guide here.  

Essentially the ACA Forms allow the IRS to verify that these employers and providers are offering affordable, adequate health insurance coverage to eligible individuals. 

The IRS requires that all businesses required to complete ACA reporting distribute copies of Forms 1095-B/C to their recipients. The deadline to do this for the 2023 tax year is March 1, 2024. 

Free Resource: ACAwise offers a free tool that helps businesses determine their ALE Status. Check out our ALE Status Calculator here. 

Indicators that Your Business Needs a Full-Service Option

Perhaps your business is clear on its ALE status, but you’ve found yourself stuck in the process with lots of data and confusion about what to do with it. In this case, a full-service ACA reporting option like ACAwise can take over the process and course correct your reporting process. Here are some other key indicators that it’s time to bring in an expert: 

  • You need Line 14 and 16 ACA Codes generated for your business
  • You need a solution for distributing recipient copies
  • You want a dedicated account manager to guide you through the reporting process
  • You need a solution that includes TIN Matching (checking SSNs for accuracy)
  • Your business is working with raw data
  • Your business needs help catching up on reporting requirements from previous tax years

ACA Course Correction – Complete Solutions from ACAwise

In the face of the approaching ACA 1095 Recipient Copy Deadline, time is of the essence. If your business finds itself unprepared, consider the streamlined and efficient solutions offered by ACAwise. With ACAwise, you can quickly get started on your ACA compliance journey, ensuring accurate and timely filing. 

ACAwise offers flexible options for bringing your data to ACAwise, once the information is uploaded to your ACAwise account it will undergo a series of precise data validations. Our team will generate your forms, complete with Codes if needed, and share them for your review and approval.

Additionally, the ACAwise team is equipped to handle the distribution of your copies via Postal Mail or Secure Online Access. State filing is supported with the required states and there is even a state-only filing option available. Finally, ACAwise facilitates the e-filing of your forms with the IRS and supports corrections as well. 

Take the first step today to navigate the complexities of ACA reporting effortlessly. Our user-friendly platform, coupled with expert support, will guide you through the process, providing peace of mind and ensuring your business meets its compliance obligations with ease. Don’t let the deadline overwhelm you—empower your business with ACAwise and make ACA compliance a seamless experience.

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