Preparing Employers for 2016 ACA Information Reporting: Lessons From 2015 Compliance Missteps

The complexity of the ACA information reporting provisions presented several challenges for employers during 2015 reporting, including discovering that their health plans were out of compliance with the ACA in some areas; failing to anticipate the cumbersome and complex nature of the reporting forms, which resulted in missed filing deadlines; and relying on inaccurate reporting advice from third parties. Understanding the problems and pitfalls employers faced last year and the lessons therefrom is key to helping clients avoid missteps when planning for 2016 information reporting.

Benefits counsel must also understand and advise employers of the new changes to the requirements for 2016 reporting, which represent a long-awaited expansion of the duties for mid-size and larger employers. Key to the new regime is that the standard for assessing penalties has become much stricter—there is no longer a “good faith effort” exception. Changes have also been made to Forms 1094-C and 1095-C.

Additionally, smaller employers are facing additional filing challenges, as reporting requirements expand and the phased implementation of the ACA continues. Further, employers must begin planning for the 40% surtax on “Cadillac” plans.

Listen as our authoritative panel reviews lessons and pitfalls from 2015 ACA information reporting and how to avoid similar problems with 2016 reporting. The panel will also discuss new changes that will impact 2016 reporting. The panel will offer planning techniques for both applicable large employers as well as small employers who are not subject to the employer mandate but may still have reporting obligations, and will outline the steps employers should take now to bring their plans into compliance with the ACA and avoid penalties.

1. Problems and pitfalls employers faced during 2015 ACA reporting and lessons learned
2. New changes for 2016 ACA reporting
   1. Forms
   2. Deadlines
   3. Penalties
   4. Surtax on “Cadillac” plans
3. Best practices for planning and compliance

The panel will review these and other key issues:

• What challenges did employers face during 2015 ACA information reporting and how can those problems be avoided for 2016 reporting?
• What are the key changes to the requirements and forms for 2016 reporting?
• What are some best practices for employers for planning for 2016 reporting and ensuring their plans are in compliance with the ACA?

Learning Objectives

After completing this course, you will be able to:

• Recognize the challenges employers faced with 2015 reporting and how to avoid them with 2016 reporting
• Identify the ACA information return requirements for 2016
• Determine which entities and employers must file
• Recognize current plans that may be subject to the upcoming 40% “Cadillac” plan surtax

• Field of Study: Taxes
• Level of Knowledge: Intermediate
• Advance Preparation: None
• Teaching Method: Seminar/Lecture
• Delivery Method: Group-Internet (via computer)
• Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
• Prerequisite: Basic knowledge of taxation.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).