The ACA created new reporting requirements under Internal Revenue Code sections 6055 and 6056, which require certain employers to provide information to the IRS about the health plan coverage they offer (or do not offer) to their employees. On Aug. 28, 2014, the IRS released draft instructions for forms that employers will use to report under sections 6055 and 6056. Related draft forms were released in July 2014. These instructions clarify which forms should be used by each reporting entity, including the specific sections that each reporting entity should complete. In addition, the instructions provide detailed information on how the forms should be completed and filed.
These forms and instructions are draft versions only, and should not be relied upon for filing. The IRS may make changes prior to releasing final versions. The IRS expects that these forms and instructions will be finalized later this year.
Read the full Health Care Reform Bulletin here: Draft Instructions for Employer Reporting of Health Coverage Released