Amwins Connect - March 2024 Question of the Month

Amwins Connect – March 2024 Question of the Month

Question

What is the penalty for failing to prepare and submit Forms 1094 and 1095 (B or C)?

Answer

Employers that fail to file, file late, or file incorrect/incomplete forms with the IRS by April 1, 2024 could face penalties of up to $310/form under §6721. In addition, failure to provide timely, complete and accurate 1095s to full-time employees and covered individuals by March 1, 2024 could result in penalties of up to $310/form under §6722.

See more information in our ACA Employer Reporting Guide - FAQs (#11).

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