What are the ACA Reporting Requirements for New Jersey?

ACA reporting is one of the required tasks for employers to take on, now that many states are instituting state mandate ACA reporting after eliminating the federal individual mandates, this adds to the weight of their reporting responsibilities. 

As we approach the holidays, everyone will be busy and their minds may drift from paperwork to planning their first socially distant holiday party and decking the halls. 

So, now is the time to confirm what your ACA reporting requirements are so you can create a game plan going into the new year. So, if you have any employees that reside in New Jersey or your business, or if you are located in New Jersey, keep on reading! 

What Forms must be reported to New Jersey?

When it comes to reporting at the state level, you will need to file the Forms 1095-B / C. The good news here is that you are probably already completing these forms to report with the IRS and distributing them to your employees if you are an Applicable Large Employer (ALE). 

What information should you report with New Jersey? 

To complete Forms 1095-B and 1095-C, the following information must be provided:

• The name, address, and SSN of each covered employee.
• The plan provider’s name, address, and EIN.
• The applicable ACA codes describe the offer of coverage.
• Any safe harbor codes used to determine the plan’s affordability. 
• Information about other individuals covered by the plan, such as spouses and dependents. 
• The employees’ share of the plan expenses.

When is the deadline to file with New Jersey?

The deadlines for filing ACA forms with the state of New Jersey and distributing recipient copies are the same as the federal deadlines. These deadlines are as follows:

• The recipient copy deadline is February 28, 2022.
• The deadline to electronically file with the state of New Jersey is March 31, 2022.

How do you file with the state of New Jersey? 

You may have mentioned that we skipped over the deadline to paper file your ACA forms, there is a reason for this. The state of New Jersey doesn’t permit paper filing. This means that employers and other mandated filers must file electronically. 

To file Forms 1094 and 1095 with the state, you will need to use the MFT Secure transport service. This is the system that employers already use to file their W-2s with the state of New Jersey. 

Are there any penalties involved? 

The answer to this question is not cut and dried. At this time there is no information to suggest that employers who fail to complete their state filing will be penalized. However, it is highly possible that this could change in the future. 

For now, it is best to err on the side of caution and complete your ACA state filing in a timely manner. This isn’t as difficult as you might think, especially not when you have ACAwise on your side. 

Meeting your New Jersey ACA Reporting Requirements with ACAwise

We can handle both your IRS and state filing obligations with New Jersey. While there may be uncertainties about penalties at the state level, there is no doubt that IRS penalties regarding ACA reporting can be detrimental to your operations. Avoid the stress and reach out to an expert at ACAwise today over the phone at 704.954.8420 or by writing to us at [email protected]!