Publish Date: November 25, 2023
Author: Seubert
Tags: Blog - SeubertU

Draft Instructions for 2023 ACA Reporting Released

The IRS has released draft instructions for 2023 Affordable Care Act (ACA) reporting under Internal Revenue Code Sections 6055 and 6056. Draft forms for 2023 reporting were previously released in July.

  • The 2023 draft instructions for Forms 1094-B and 1095-B can be used by providers of minimum essential coverage—including self-insured plan sponsors who are not applicable large employers (ALEs)—to report under Section 6055.
  • The 2023 draft instructions for Forms 1094-C and 1095-C can be used by ALEs to report under Section 6056 as well as for combined Section 6055 and 6056 reporting by ALEs who sponsor self-insured plans.

The latest draft instructions include information on the new electronic filing threshold for information returns required to be filed on or after Jan. 1, 2024, which has been decreased to 10 or more returns (originally, the threshold was 250 or more returns).

No major changes were made to the draft forms for 2023 reporting; however, certain changes may be made once the forms and instructions are finalized.

Individual statements for 2023 must be furnished within 30 days of Jan. 31, 2024. Because 2024 is a leap year, the deadline for these statements is March 1, 2024. Electronic IRS returns for 2023 must be filed by March 31, 2024. However, since this is a Sunday, electronic returns must be filed by the next business day, which is April 1, 2024.

Impact on Employers

Employers should become familiar with the draft forms and instructions for 2023 calendar year reporting, keeping in mind that these are draft versions only and should not be relied upon for filing.

Employers should also monitor future developments for the release of 2023 final forms and instructions and begin to explore options for filing ACA reporting returns electronically (e.g., working with a third-party vendor to complete the electronic filing).

Contact us to see how you could minimize risk: