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Hey Oh! New IRS 1094 & 1095 Forms

Jill Schaefer /
  • Categories: HR
IRS

At this point in the year, it’s not too soon to think about year end. The IRS recently updated its 1094 and 1095 forms.

First, a review of what these forms are all about.

The IRS recently updated its 1094 and 1095 forms.  First, a review of what these forms are all about.

Now, for the adjustments.

  • The IRS has now specified that the de minimis safe harbor rule, which says employers don’t have to correct an error or inform participants if it’s less than $100, also applies to errors on line 15 of 1095-C.
  • The instructions include a FAQ on reporting COBRA coverage. However, these FAQs are not legally binding.
  • On the forms, employers indicate if they qualify for safe harbor/relief from certain penalties. The updated instructions state that there isn’t a specific code to use to account for employees who waive an employer’s health coverage.
  • Providing information on your healthcare plan’s start month will still be optional for 2017, but this may change in 2018.

Download New Forms

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