Form 1094-B for 2024 Tax Year: Transmittal of Health Coverage Information

What is Form 1094-B?

Form 1094-B is a transmittal form used by insurance providers in the United States to report health coverage information to the IRS offered under the Affordable Care Act (ACA). It serves as a summary cover sheet for the 1095-B Form, consolidating the details of individual 1095-B returns being submitted.

Information required to complete Form 1094-B

To accurately complete Form 1094-B, you must provide the following details:

• Filer’s Name (Line 1): Enter the complete legal name of the filer.
• Employer Identification Number(Line 2): Provide the filer’s nine-digit EIN.
• Contact Person Details (Lines 3 and 4): Include the name and telephone number of the individual responsible for handling any IRS inquiries regarding the submission of Form 1094-B or 1095-B.
• Filer’s Address (Lines 5–8): Provide the filer’s complete mailing address where all IRS correspondence should be sent. Enter the box number if a P.O. Box is used instead of a street address for mail delivery purposes.
• Total Forms Transmitted (Line 9): Indicate the total number of Forms 1095-B transmitted along with Form 1094-B.

When is the deadline for Form 1094-B?

The deadline to file IRS Form 1094-B varies depending on the filing method. Meeting these deadlines is essential to ensure compliance with IRS regulations and avoid penalties. Here is the table explaining the deadline to file Form 1094-B:

What are the penalties for not filing Form 1094-B?

You may incur penalties if you do not comply with the IRS filing requirements for Form 1094-B.

• Failure to File: $330/form with a maximum penalty limit of $3,987,000/ year.
• Failure to Furnish Individual Copies: $330/ form with a maximum penalty limit of $3,987,000/ year.
• Intentional Disregard: $660/ return with no maximum limit.

To avoid these 1095-b penalties, ensure that you file Form 1094-B and the required copies of Form 1095-B accurately and on time.