| 1-30 Days Late | 31 Days Late - August 1st | After August 1st | Intentional Disregard | |
|---|---|---|---|---|
| Penalty Per Return | $60 | $130 | $330 | $660 |
| Maximum – Gross receipts less than/equal to $5M* | $232,500 | $664,500 | $1,329,000 | No Limitation |
| Maximum – Gross receipts over $5M* | $664,500 | $1,993,500 | $3,987,000 | No 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.
- 2025: Because the normal March 2 deadline falls on a weekend, they are due the next business day, which is March 3, 2025.
| Who reports? | Forms | Copy to Employees (IRS Form 1095 only) | Electronic Submission to IRS* |
|---|---|---|---|
Carriers and Non-ALE employers with self-funded plans | 1094-B 1095-B | March 3, 2025 | On/before last day of March 2025 |
| 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:
- Failure to file: Penalty assessed per W-2.
- Failure to distribute copies: Penalty assessed per W-2.