Similar to other tax forms, you can file Affordable Care Act forms by paper or electronically.
What are ACA Forms?
Affordable Care Act (ACA) forms, also known as ObamaCare forms, report healthcare plan coverage information to the IRS and employees. Employers with 50 or more full-time employees, all self-insured employers, and some insurance companies must file this form.
How to File ACA Forms
If you have less than 250 ACA forms to file, you can submit paper copies. If you have more than 250 ACA forms, then you need to file electronically using the Affordable Care Act Information Returns (AIR) system.
ACA Forms Due Dates
You must deliver 1095 forms to your employees by January 31.
If you are filing by paper, you must do so by February 28. If you are e-filing, you must do so by March 31.
Choosing to e-file your ACA forms, even if you have less than 250 ACA forms to file, has many benefits:
- You have an additional month to file compared to paper filing.
- You can correct errors by using TIN Checking before you file.
- Receive an immediate e-filing submission status; it will be “accepted,” “accepted with errors,” or “rejected.”
- Receive a dated Receipt ID that verifies your submission, which is beneficial if your business receives an IRS Letter 5699, which identifies potential non-filers of the required ACA Information Returns.
Troubleshooting E-filing Issues
In order to e-file using the AIR system, you must first apply for a Transmitter Control Code (TCC). The application requires your business’s details, including your EIN, as well as the details of two business officials, at minimum, who will be transmitting the information. The application also requires what type of transmission methods you will use.
After the application is submitted and it’s accepted by the IRS, the business needs to go through an ACA Assurance Testing System. This test determines whether your business’s technology will ensure that all e-filing will take place without error. During this process, many businesses find out that they do not have the right technology in order to transmit their ACA forms to the IRS. To get the right technology can be costly and time-consuming.