November 18, 2019
On Nov. 13, 2019, the IRS released draft 2019 forms and instructions for ACA reporting under Code Sections 6055 and 6056. Note that Section 6055 reporting continues to be required, despite the fact that the individual mandate penalty has been reduced to $0. The reason stated for continuing the required Section 6055 forms is that the forms help the IRS administer premium tax credit eligibility, because an individual who is eligible for certain types of minimum essential coverage may not be eligible for the premium tax credit.
The 2019 draft forms and instructions are substantially similar to the 2018 final versions, however the forms now have the reference to the penalty removed. Please note that the forms and instructions are draft versions only, and before finalizing you should check for final/updated forms from the IRS. A full copy of the ACA Compliance Bulletin which provides an overview of the draft forms and instructions for filing the 2019 forms along with deadlines and penalties and can be found HERE. For additional assistance or information on reporting under Code 6055 and 6056, please reach out to your Benefits team at Robertson Ryan or call 800.258.0277.