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Under the Affordable Care Act, employers must follow specific reporting requirements concerning health insurance coverage offered to employees during calendar year 2015.

Although the ACA has been impacting nearly all employers over the past couple of years, now employers must comply with new reporting requirements or face significant fines.

The ACA reporting requirements depend on the size of the business:

  • small employers generally have fewer than 50 full-time employees or 50 full-time equivalents;  and
  • large employers which have more than 50 full-time employees.

Applicable Large Employers, or ALEs, must file information returns with the Internal Revenue Service or face fines and penalties. In addition to ALEs, small businesses that are members of a Controlled or Affiliated Service Group who have a total of 50+ employees (or 50+ FTEs) and employers that sponsor self-insured group health plans must also file reports with the IRS.

2015 ACA Employer Reporting Requirements Infographic

Our Infographic below summarizes which businesses need to file during the first few months of 2016, their filing deadlines, possible fines and penalties, and otherwise what employers can do to prepare for ACA reporting.

Click here to view the ACA Employer Reporting Requirements infographic as a PDF.

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Holly Magister, CPA, CFP

Holly A. Magister, CPA, CFP®, is the founder of Enterprise Transitions, LP, an Emerging Business and Exit Planning firm. She helps entrepreneurs assess, re-align, and accelerate their business with the intent of ultimately executing its top-dollar sale.
Holly also founded ExitPromise.com and to date has answered more than 2,000 questions asked by business owners about starting, growing and selling a business.
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