Video instructions and help with filling out and completing How Form 1094 B Import

Instructions and Help about How Form 1094 B Import

Thank you for attending the ten 94c 2016 data gathering spreadsheet webinar hosted by myself benjamin davis this is going to be a very short presentation just showing how to complete the employer information that will use to complete the 10 94c form the first group of rows just gets the company's demographic information such as his name address phone number and ein next we'll need the information for the signer or contact of the company only their name as well as their email address if you have more than one company that's part of a controlled group you're going to go ahead and put yes here indicating that the company is part of a controlled group and then you'll want to make sure that for each additional company you're entering their information as well the company is not part of a control group you're going to go ahead and select no the next row indicates what does the company is going to be reporting as the authoritative transmittal if you're not part of a controlled group that company is going to be envious or gate of transmittal if you are part of a controlled group only one of the companies is going to be the authoritative transmittal and all the other companies are not there is no right or wrong answer for which one will be the authoritative transmittal you just have to select one entity that will actually be submitting the data to the IRS on behalf of all of the other members of that controlled group the next row indicates the our requirement for the determination of full-time employees to be compliant with the ACA this number can't be higher than 30 but if you count employees as full-time employees working less than that go ahead and put the number from your plan documents there the waiting period determines how long an employee has to wait once they're a full-time employee until they're eligible for benefits there are a number of options to select here either the date of hire one month two months 30 days the 60 days and 90 days please be aware of however that 90 days is no longer ACA compliant so it's most likely that you'll be choosing one of the other options now once this waiting period has been met when does the coverage become effective you have two options here you can enter code one when coverage begins immediately following a waiting period so if they become insured immediately after 30 days you go ahead and select one if they become insured on the first of the month following 30 days of full-time employment you go ahead and select to the next row concerns termination of insured employees when do they lose their coverage do they lose their coverage on the date of termination or does it go to the end of the month please go ahead and select the appropriate option there this next group of rows relates to the lowest cost plan then it's available to your employees if all employees have the same lowest cost plan available to them you'll only be completing the plan type 1 if you have a situation where the lowest cost planet is available for some employees it's not available to all employees you go ahead and enter that information into plan to this is common when you have employees in different states so it's possible that the blue cross blue shield of florida plan might be available only for employees in florida and then a blue cross blue shield of georgia plan might be the lowest cost plan available to those employees living in georgia in those instances you put the information for both plans if you do have a third plan that's available only to a certain segment of the population of employees and that's the lowest plan you can go ahead and copy and paste this plan information here and make a plan type three if the same plan is available to all employees as the lowest cost plan you'd only need to fill out this one section here you'd put the plan type this can be HMO PPO blue cross blue shield of florida just something to identify what the plan is next for that plan put the renewal date whether it's january first or any other month the next question concerns the plan to minimum value if the plan is a minimum value plan it pays at least sixty percent of the employee costs if it does you go ahead and select yes if not you can select no if you're not sure leave that blank and then select YES for the minimum value testing required this next line concerns affordability it's the plan cost nine point five six percent or less of the employees household income you can go ahead and put this plan is affordable if it costs more than nine point five six percent of the household income the plan is not affordable if you are not sure and the plan requires affordability testing go ahead and select yet here if not go ahead and select know the next row concerns the affordability safe harbor the three options are rate of pay w2 and federal poverty line almost everyone is going to be using rate of pay unless you have a very specific reason for choosing one of the other two options whether it's w2 or federal poverty line the next row you will input the information concerning the employees contribution of the lowest cost employee only premium if your company pays a hundred percent of the employee only portion of the premium you put 0 here otherwise put the amount that the employee will be contributing next concerns the funding arrangement of the plan is the plan fully insured self-insured or is it a combination the last two rows of this plans information concern the spouse and dependent coverage offered if coverage