Form 1094-C - An Overview
Updated on November 05, 2024 - 10:30 AM by Admin, Tax bandits
In addition to the ACA mandate that employers offer affordable health coverage to their employees, Section 6055 and 6056 of the ACA require Applicable Large Employers (ALEs) to file forms 1094-C and 1095-C with the IRS.
1094-C is the transmittal form that must be filed with the 1095-C form.
Eventually, Forms 1094-C and 1095-C are used by Applicable Large employers to report health coverage information offered by employees to the IRS.
Table of Content:
1. What is Form 1094-C?
Form 1094-C is the transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns Form that accompanies Form 1095-C when filing with the IRS each year.
Form 1094-C summarizes the 1095-C information returns. Form 1094-C is only sent to the IRS, not to employees.
2. When is the deadline for IRS Form 1094-C?
For tax year 2023, there is an extension in the deadline for furnishing employee copies. for tax year 2023, there is an extension in the deadline for furnishing employee copies.
However, the paper filing and electronic filing deadline remains the same.
The due date for filing Form 1094-C with the IRS is
Type of Tax Filing | Due Date |
---|---|
Furnishing Employee Copies | March 01, 2024 |
Paper Filing | February 28, 2024 |
Electronic Filing | April 01, 2024 |
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3. Information required to file Form 1094-C?
To complete Form 1094-C, you will need the following information.
- Applicable Large Employer information such as Name, EIN, Contact information, etc.
- Number of the 1095-C Forms transmitted with Form 1094-C
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4. What is Authoritative Transmittal Form 1094-C?
When an ALE member files more than one Form 1094-C, one of those 1094-C forms must be identified as authoritative transmittal on Part I, line 19.
The Authoritative Transmittal must contain the aggregate data for all full-time employees and all employees.
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