Reporting Deadlines and Penalties

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1-30 Days Late31 Days Late - August 1stAfter August 1stIntentional Disregard
Penalty Per Return$60$120$310$630
Maximum – Gross receipts less than/equal to $5M*$220,500$630,500$1,261,000No Limitation
Maximum – Gross receipts over $5M*$630,500$1,891,500$3,783,000No Limitation

*Employers filing 10 or more information returns, including Forms 1094/1095, W-2, and 1099, are required to file electronically.

Who needs to file IRS Forms 1094 & 1095?

  • Fully-insured carriers and Non-Applicable Large Employers (ALEs) with self-funded plans: File Forms 1094-B and 1095-B with the IRS and furnish copies of 1095-B to covered individuals.
  • ALEs with fully-insured and/or self-funded plans: File Forms 1094-C and 1095-C with the IRS and furnish copies of 1095-C to any person employed FT for at least one full calendar month of the reporting year.

Deadline changes:

  • 2023: IRS extended the deadline to distribute 1095-C by 30 days, from January 31st to March 2.
  • 2024: IRS now requires employers filing 10 or more information returns (including 1094/1095, W-2, and 1099) to file electronically. Previously, this requirement applied only to employers filing 250 or more W-2s.
Who reports?FormsCopy to Employees (IRS Form 1095 only)Electronic Submission to IRS*

Carriers and Non-ALE employers with self-funded plans

1094-B 1095-B

March 1, 2024

April 1, 2024
Applicable Large Employers (ALEs)1094-C 1095-C

*Based on average annual gross receipts for the most-recent three taxable years.

Intentional disregard penalties for missing 1094-C/1095-C forms are assessed based on the number of W-2s filed with the IRS during the tax year. These penalties occur in two phases:

  1. Failure to file: Penalty assessed per W-2.
  2. Failure to distribute copies: Penalty assessed per W-2.