IRS Accepting ACA Filings After June 30 Deadline

Still haven’t submitted your Affordable Care Act (ACA) information returns for health coverage provided in 2015?  You may be in luck – the Internal Revenue Service announced returns are still being accepted after the June 30 deadline and penalties for late filing may be waived in certain cases.

The IRS will not assess penalties for late filing on reporting entities that have made legitimate efforts to file information returns, if they continue to make efforts and complete the process as soon as possible.

These returns are required under Internal Revenue Code Sections 6055 and 6056, which were created by the ACA. Certain employers must file their returns electronically through the ACA Information Returns (AIR) Program.ACA yield sign

Employers that are not electronic filers but that missed the May 31, 2016, paper filing deadline should also complete the filing of paper returns as soon as possible.

Any reporting entity that is required to file at least 250 individual statements under Sections 6055 or 6056 must file electronically. The 250-or-more requirement applies separately to each type of individual statement. Entities filing fewer than 250 returns during the calendar year may choose to file on paper, but are allowed (and encouraged) to file electronically.

According to the IRS:

  • The AIR system will continue to accept information returns filed after June 30, 2016. In addition, employers can still complete required system testing after June 30, 2016.
  • If a transmission or submission was rejected by the AIR system, reporting entities have 60 days from the date of rejection to submit a replacement and to have the rejected submission treated as timely filed.
  • If a reporting entity submitted and received “Accepted with Errors” messages, it may continue to submit corrections after June 30, 2016.

This blog is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice.