News & Insights

IRS Extends Due Date for Furnishing Forms 1095-B and 1095-C to Individuals

Tax Development Nov 28, 2016

The Internal Revenue Service (IRS) has issued Notice 2016-70 extending the due date for furnishing to individuals the 2016 Form 1095-B, Health Coverage, and the 2016 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from January 31, 2017 to March 2, 2017. The Notice also extends good-faith transition relief from Section 6721 and 6722 penalties that are applicable to the information reporting requirements. Treasury and the IRS have determined that there is no similar need for additional time for employers, insurers, and other providers to file these forms with the IRS by the February 28, 2017 due date, if not filing electronically, or March 31, 2017, if filing electronically.

Because of the extension granted, some individual taxpayers may not receive the Form 1095-B or 1095-C by the time they are ready to file their personal tax returns. The IRS has stated that taxpayers may rely on information provided by their employers or other coverage providers for purposes of filing their returns. Taxpayers do not need to receive Form 1095-B or 1095-C prior to filing their returns.

TECHNICAL INFORMATION CONTACT:

Mindy Mayo
Director
Ryan
408.850.4565
mindy.mayo@ryan.com