Affordable Care Act Reporting Services – IRS 1094/1095 Form Preparation & Filing

Qualifying employers under the Affordable Care Act (ACA), usually defined as those with 50 or more full-time employees or full-time equivalents during the prior calendar year, are required to complete IRS Forms 1094 and 1095 to communicate the benefits provided to its employees throughout the prior 12 month period.

  • The delivery deadline for 1095 forms (which are to be provided to eligible form recipients) is March 2, 2021.
  • The filing deadline for forms 1094/1095 to be manually filed with the IRS is March 1, 2021. The deadline for electronic filing with the IRS is March 31, 2021.
  • The IRS has levied penalties for prior ACA Reporting seasons and intends to continue this year as well.

Our team can prepare and file these forms on your behalf, guiding your organization through the ACA reporting process, including the successful completion and distribution of Form 1095 to all eligible recipients and the submission of Forms 1094/1095 to the Internal Revenue Service (IRS).

This year, our team is also able to provide your employees with direct online access to their Form 1095 through our special Employee Portal, eliminating the need for mailing.

HOW WE DO IT

The ACA Reporting process may include:

  • Delivery of a detailed instruction and data collection kit, defining all deliverables to be provided both by the client and by OI.
  • An introductory call to review the instruction kit, template, and deliverable dates, clearly outlining the process.
  • Identification of applicable IRS deadlines and development of a project plan and timeline for completion.
  • Client submission of all necessary company data using the provided data collection template, which OI will then review to identify any missing or incomplete information. This data will include:
    • Employee information for all those (current or terminated) who were eligible for benefits at any point during the calendar year.
    • Coverage offered and provided, including the employee’s financial responsibility.
    • Verification that coverage was offered each of the 12 months (or eligible periods) for the prior year.
  • Upload of client supplied data, resulting in OI’s population of Forms 1094/1095.
  • Submission of electronic drafts for client review and approval before formal submission.
  • Delivery of electronic versions of completed Forms 1095 to the client for internal distribution, upload of forms into employee self-service portal, or output of forms to be mailed by OI to all eligible form recipients.
    • Please note – employee portal access or form mailing services are available for an additional fee.
  • Submission of Forms 1094 and 1095 to the IRS on your behalf.

Our team can also help your organization establish an ACA strategy and address any gaps.

To learn more about OperationsInc’s Affordable Care Act Reporting Services, contact us at info@OperationsInc.com or (800) 307-5513.