What are the ACA Reporting Requirements for Rhode Island?

ACA reporting is a required task for many employers, now that many states are instituting state mandate aca reporting after eliminating the tax penalty  associated with the federal individual mandates, this adds to the weight of their reporting responsibilities. 

The holidays are almost here and everyone will be busy. Paperwork will soon be replaced by wrapping paper and crunching numbers will be replaced by crunching cookies and holiday treats!

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 Rhode Island, or you or your business are located in Rhode Island, stay tuned! 

What Forms must be reported to Rhode Island? 

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 to the state of Rhode Island? 

To complete the 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 that 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 Rhode Island?

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

• The recipient copy deadline is January 31, 2022.
• The deadline to electronically file with the state of Rhode Island is January 31, 2022.

How do you file with the state of Rhode Island? 

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 Rhode Island doesn’t accept paper filing. Employers and other mandated filers must file electronically. 

To file the Forms 1094 and 1095 with the state, you will need to file them electronically through the Division of Taxation’s website. Filing organizations must also distribute paper copies to their recipients. 

Are there any penalties involved? 

The answer to this question is not completely clear at this time. As of now, 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. 

ACAwise helps you meet your ACA Reporting Requirements with Rhode Island

We can handle both your IRS and state filing obligations with Rhode Island. 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 by phone at 704.954.8420 or write to us at [email protected]!