On Nov. 18, 2016, the Internal Revenue Service issued Notice 2016-70, which provides certain extensions related to Affordable Care Act reporting for 2016. Specifically, this notice:
• Extends the due date for furnishing forms to individuals under Sections 6055 and 6056 from Jan. 31, 2017, to March 2, 2017
• Extends good-faith transition relief from penalties related to 2016 information reporting under Sections 6055 and 6056
The due dates for filing forms with the IRS for 2016 are not affected by this guidance. The due date for filing with the IRS under Sections 6055 and 6056 remains Feb. 28, 2017 (March 31, 2017, if filing electronically).
Despite the delay, employers and other coverage providers are encouraged to furnish 2016 statements to individuals as soon as they are able.
Broker Briefcase users see our document “2016 Furnishing Deadline for ACA Reporting Delayed.”