The IRS recently announced (12/22) it has extended the 2018 due date for certain entities to provide 2017 health coverage information forms to individuals.

 

Insurers, self-insuring employers, other coverage providers and applicable large employers now have until March 2, 2018, to provide Forms 1095-B or 1095-C to individuals, which is an automatic 30-day extension and not one that needs to be requested.

 

“This is a welcome extension for school districts that generate the forms themselves,” ASBSD CFO Matt Flett said.

 

“The extension is a good thing for schools, but we’ll continue to use the protocol from previous years and supply South Dakota School District Benefits Fund members with the information needed to generate the forms in early January.”

 

Flett noted additional good news for schools is Good Faith Relief is also being extended and SDSDBF districts who are applicable large employers required to file 1095-C Forms – more complex forms requiring specific additional information – will be receiving additional assistance.

 

“ASBSD has again contracted with Eide Bailly, LLP, a national leader in professional tax consulting and auditing, and it allows our applicable large employers to submit their 1095-C Forms to tax professionals for review at no cost to SDSDBF districts,” Flett said.

 

“The extension gives Eide Bailly more time to review the forms, and conversely, gives our school districts more time to make any necessary corrections, which strengthens the argument that school districts generated the forms in good faith.”

 

Flett added districts don’t have to use the extension and can provide the applicable form in conjunction when they supply their employee’s their W-2 forms in January.

 

The due dates for filing 2017 information returns with the IRS are not extended and deadlines to file this information include:

• February 28, 2018 for paper filers
• April 2, 2018 for electronic filers

Because of these extensions, some individuals may not receive their Forms 1095-B or 1095-C by the time they are ready to file their 2017 individual income tax return.

 

While information on these forms may assist in preparing a return, the forms are not required to file. Taxpayers can prepare and file their returns using other information about their health coverage. They do not have to wait for Forms 1095-B or 1095-C to file.

 

More information is contained in Notice 2018-06; also, visit www.irs.gov/aca for additional material.