Attention HR professionals! If your organization is subject to Affordable Care Act (ACA) reporting, it’s time to gear up for the upcoming deadlines. Staying compliant with IRS regulations is crucial and knowing the timelines can help you avoid last-minute stress.
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What to know for 2024 calendar year reporting
Electronic filing deadline: File returns electronically by March 31. Filing on paper? The deadline was Feb. 28. Remember, employers filing 10 or more returns must do so electronically.
Individual statements: Statements were required to be furnished upon request by Jan. 31 or within 30 days of receiving the request, whichever is later. Alternatively, employers needed to submit statements by March 3 if they chose not to follow the on-request distribution method.
Additionally, a notice with information on obtaining these statements should have been posted on your website by March 3.
Understanding compliance is crucial: TruePlan can help
Whether you’re managing self-insured plans or applicable large employer (ALE) reporting, understanding these updates is critical to avoiding penalties and ensuring smooth compliance.
For a complete breakdown of reporting requirements, tools and tips to make your ACA filing seamless, read our in-depth guide. Avoid delays and ensure your organization’s compliance today!
Want more ACA content? Check out these resources:
Don’t forget to learn more about our employee benefits solutions. We’re here to help you overcome rules and regulations so you can thrive in your space.
This content is for informational purposes only. It has been partially generated from an AI language model, which may not always be exhaustive or tailored to individual circumstances. We encourage you to contact one of our experts for more information. We assume no liability arising from any use of this content.