As anyone who does ACA reporting knows, year-end reports can be time consuming, confusing and perhaps worst of all, costly. If you don’t file the right forms on time with the IRS and applicable state agencies, or if you fail to furnish the right forms to your employees in a timely fashion, you may be subject to penalties.

Need a refresher on ACA reporting requirements for tax year 2022? Applicable large employers (ALEs) must:

  1. Furnish Form 1095-C to employees and covered individuals
  2. File Forms 1094-C and 1095-C with the IRS and any applicable states that have reporting mandates

Any form that is furnished or filed late can be subject to a $290 penalty from the IRS. If you miss both the furnishing and filing deadlines, that penalty doubles to $580 per form. The California Franchise Tax Board also has a $50 per form failure-to-file penalty for Forms 1095-C that are not filed by their deadline in May.

Estimate your potential ACA penalties

With IRS penalties increasing for forms due in 2023, you can’t afford to miss the deadlines. Download our detailed ACA reporting timeline. It shows the deadline requirements for both the IRS and states with reporting mandates.

ADP Editorial Team

ADP Editorial Team The ADP editorial team is comprised of human resource professionals with extensive experience solving complex HR challenges for businesses of all sizes.