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If you are an applicable large employer with 50 or more full time employees and full time equivalents, you have to provide all full time employees with IRS Form 1095. This form is based on the 2015 tax year and must be distributed to full-time employees by February 1, 2016. The penalties for non-compliance are huge – $250 per violation. For intentional non-filing the penalty is double – $500 per violation (per form not filed). For example, an entity with 175 full time employees who does not file on time could be subject to a fine of $43,750. If the same firm intentionally avoided the filing the fine would be $87,500. All applicable large employers, including government entities are subject to these reporting requirements. Control group and common ownership companies are combined for purposes of determining if you are an applicable large employer and thus subject to these new reporting and filing requirements.

In order to properly complete the 1095 forms, you must track eligibility periods and offers of coverage amongst other data points for the 2015 tax year and the 1095 form must be coded correctly to avoid fines for each month and for each full time employee.

Our system will track and e-file the 1095’s for your employees, print and mail the 1095 to their home and e-file the 1094 transmittal form with the IRS.

You do not have to change Payroll Vendors.

You do not have to change Benefit Administration Systems.

You can sole source this annual project to The Walsh Group and relax, knowing you are in compliance.

Contact a Walsh Group representative so that we can start loading data points from 1/1/15 through 12/31/15 so your forms are completed and filed correctly.