Employee Benefits Advisory – IRS Extends Furnishing Deadline for 2017 ACA Reporting
On December 22, 2017, the IRS issued Notice 2018-06 to delay the 2017 furnishing deadline for ACA reporting. Under this notice, the 2017 deadline for furnishing forms to individuals under Section 6055 and Section 6056 was extended for 30 days, from January 31 to March 2, 2018. No request or other documentation is required to take advantage of the extended deadline. The IRS is encouraging reporting entities to furnish statements as soon as they are able.
Notice 2019-06 also extends good-faith transition relief from penalties related to 2017 ACA reporting. However, Notice 2018-06 does not extend the due date for filing forms with the IRS for 2017. The due date for filing with the IRS under Sections 6055 and 6056 remains February 28, 2018 (or April 2, 2018, if filing electronically, since March 31, 2018 is a Saturday).
For more information and an overview of the extension details, click below.
Please give your Benefits Consultant at Owen-Dunn a call if you have any questions or concerns.