09/18/2013-ACA Information Reporting under IRC 6055 and 6056Wednesday, September 18, 2013 (2pm - 3:30pm US/Eastern) |
Online registration is not available at this time.
Call Time: 2:00 p.m.-3:30 p.m. (EDT)
This is a member-only call
The IRS and Treasury recently released proposed regulations to implement required information reporting under sections 6055 and 6056 of the Internal Revenue Code. The voluminous reporting required under these sections was created by the Affordable Care Act (ACA) to facilitate the determination of whether or not an employee is covered by an employer’s plan (affecting eligibility for subsidized coverage in an Exchange plan) and, thus, whether a large employer is subject to the ACA’s shared responsibility penalties. This information will also be used to determine whether an individual is subject to the penalty applied in conjunction with the individual mandate under the ACA.
Under IRC 6055, issuers and sponsors of self-funded plans must file annual returns, reporting information for each individual for whom Minimum Essential Coverage is provided; the first returns will be due in early 2016 for 2015. Under IRC 6056, large employers subject to the shared responsibility provisions of the Act will be required to report certain information to the government about the coverage they provide after December 31, 2014 to their full-time employees and furnish related statements to employees.
Our FocusOn call will discuss the many facets of these proposed regulations and, especially, how they might be simplified and/or streamlined. Rich Stover, the famous actuary with Buck Consultants, will guide us through the maze on this call. George Bostick, Benefits Tax Counsel with the Department of Treasury, will also participate on the call to try to answer questions we have about the regulations.
To register for the call, click on the "Register Now" link at the top of this page (you will need your username and password to register).
If you are a prospective member and would like to participate in the call, please contact ERIC at 202-789-1400 or e-mail: memberservices@eric.org.
Related Files:
| ACA Reporting_IRC 6055 and 6056_Slides.pdf |