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September 2017SelfInsured Employers Information Reporting for IRS Code Sections 6055 and 6056 FAQ (Frequently Asked Questions)Note: The Blue Cross and Blue Shield of Wyoming is not providing, and

How to fill out self-insured employers information reporting

How to fill out self-insured employers information reporting:

1. Begin by gathering all necessary information and forms. You will need your employer identification number (EIN), employee information, and information about the health coverage provided.
2. Use Form 1094-B or 1094-C to report the information. Form 1094-B is used by small self-insured employers, while Form 1094-C is used by applicable large employers (usually those with 50 or more full-time employees).
3. Fill out the employer's information section accurately. This includes providing your legal business name, address, and EIN. Make sure to double-check this information for any errors.
4. Include the necessary employee information. This includes the employee's name, social security number, and months of coverage. If an individual was covered for the entire year, you can indicate this on the form.
5. Report the number of covered individuals. This includes employees, as well as any dependents or non-employees covered under the health plan. Make sure to accurately count and report this information.
6. Indicate any changes or corrections. If you need to make changes to previously reported information or correct any errors, there are specific boxes on the form to do so. Provide a clear explanation of the changes or corrections.
7. Submit the form by the deadline. The deadline for filing self-insured employers information reporting is typically in early February for paper forms and in late March for electronic filing. Be sure to submit your form on time to avoid any penalties.

Who needs self-insured employers information reporting?

1. Self-insured employers who provide health coverage to their employees are generally required to file self-insured employers information reporting. This includes both small self-insured employers and applicable large employers.
2. Small self-insured employers are those who have fewer than 50 full-time employees. They use Form 1094-B and report information about the health coverage they provide.
3. Applicable large employers are those who have 50 or more full-time employees. They use Form 1094-C and report information about the health coverage they provide, as well as information related to the employer shared responsibility provisions under the Affordable Care Act.
4. It's important for these employers to understand their reporting obligations and fulfill them accurately and on time to avoid potential penalties. Compliance with self-insured employers information reporting is essential for ensuring transparency and providing the necessary information to the IRS.

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What is self-insured employers information reporting?

Self-insured employers information reporting is the process by which employers who provide health coverage to employees on a self-insured basis report information to the IRS.

Who is required to file self-insured employers information reporting?

Employers who provide self-insured health coverage to employees are required to file self-insured employers information reporting.

How to fill out self-insured employers information reporting?

To fill out self-insured employers information reporting, employers need to collect relevant information about the health coverage provided to employees and report it to the IRS using the appropriate forms.

What is the purpose of self-insured employers information reporting?

The purpose of self-insured employers information reporting is to ensure compliance with the Affordable Care Act and provide the IRS with information about health coverage provided by self-insured employers.

What information must be reported on self-insured employers information reporting?

Information such as the names and social security numbers of covered individuals, the months of coverage, and any applicable cost information must be reported on self-insured employers information reporting.