Who Form 1094 B Certification 2023-2024

Well, to our training on the Affordable Care Act reporting steps. By March 31st, 2016, all applicable large employers and anyone offering self-funded medical insurance plans are required to provide Form 1095 to any employee who was considered a full-time employee for one month or more during 2015. They must then submit a copy of these documents to the IRS along with a 1094 transmittal form by May 31st, electronically. During the next few minutes, I'll walk you through how to complete these documents. Our objective is to help you get through this process in an easy, step-by-step fashion, meeting all requirements. I'm Jen Spencer, President and CEO of HR Service, a provider of benefit compliance and HR solutions. Before we begin, I have a couple of caveats. Talk to all experts you have at your disposal. It's the first year, and it's going to be a learning year. Labor attorneys, benefit brokers, CPAs, HR software providers, and payroll providers, you're all going to have different kinds of knowledge that can be exploited. We provide you with everything needed to meet these requirements, but it's a good idea to use all resources available to you. To provide you with a little background, there are two new IRS sections, 6055 and 6056, that outline requirements for applicable large employers and self-funded plans. The employer shared responsibility provisions provide minimum essential coverage at affordable rates. These provisions further outline reporting requirements, which will be the focus of our discussion. ACA reporting is simply providing the required forms to the IRS and sending copies to full-time employees. This helps them know who is meeting the requirements to have coverage or who they need to send fines to. First, make sure if you need to complete the ACA reporting documents at all. If you...