Regulatory Resources

Deadline Extended for Furnishing 2020 Form 1095

The IRS has extended the due date for furnishing 2020 Forms 1095-B and 1095-C to individuals from Feb. 1 to March 2, 2021, and has provided some relief from penalties. (NOTE: The original deadline would normally be Jan. 31, but this year that date falls on a weekend.)

No Extension to Deadlines for Filing with the IRS

  • This notice does not extend the due date of Feb. 28 (March 31, if filed electronically) for filing with the IRS 2020 Forms 1094-B, 1095-B, 1094-C or 1095-C.
  • The automatic extension remains available under the normal rules for filing the forms with the IRS for employers and other coverage providers who submit a Form 8809 on or before the due date.

 

Relief for Failing to Furnish a Form 1095-B to Employees

The IRS will not assess a penalty against reporting entities for failing to furnish a Form 1095-B to responsible individuals (employees) when two conditions are met:

  1. The reporting entity must post a notice prominently on its website stating that responsible individuals may receive a copy of their 2020 Form 1095-B upon request, accompanied by:
    • Email address to which a request may be sent
    • Physical address to which a request may be sent
    • Telephone number that responsible individuals can use to contact the reporting entity with any questions
  2. The reporting entity must furnish a 2020 Form 1095-B to any responsible individual upon request within 30 days of the date the request is received.

 

Relief for Incorrect or Incomplete Reporting

The IRS will not assess a penalty against reporting entities that report incorrect or incomplete information on the return or statement when these entities can show they made good-faith efforts to comply with the information-reporting requirements.

In determining good faith, the IRS will take into account whether the reporting entity made reasonable efforts to prepare for reporting the required information to the IRS and furnishing it to employees and covered individuals, such as gathering and transmitting the necessary data to an agent to prepare the date for submission to the IRS or testing its ability to transmit information to the IRS.

This is the last year the Treasury Department and IRS intend to provide this relief.

This information was released on Oct. 2, 2020, in IRS Notice 2020-76.