ACA Reporting Forms & Failure to Comply Penalties

The IRS recently issued the final forms for 2017 ACA reporting along with instructions for each form (links below).  According to the IRS, “A provider of minimum essential coverage that fails to comply with the information reporting requirements may be subject to the general information reporting penalty provisions for failure to file correct information returns and failure to furnish correct payee statements. For returns required to be made and statements required to be furnished for 2017 tax year returns, the following apply.

  • The penalty for failure to file a correct information return is $260 for each return for which the failure occurs, with the total penalty for a calendar year not to exceed $3,218,500.
  • The penalty for failure to provide a correct payee statement is $260 for each statement for which the failure occurs, with the total penalty for a calendar year not to exceed $3,218,500.
  • Special rules apply that increase the per-return and per-statement and total penalties with no maximum limitations if there is intentional disregard of the requirement to file the returns and furnish recipient statements.”

Form 1094-B (Transmittal of Health Coverage Information Return)
Form 1094-C (Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Return)
Form 1095-B (Health Coverage)
Form 1095-C (Employer Provided Health Insurance Offer and Coverage)