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ACA Compliance Resources

Part 2: Steps for Completing Year End

The next page of the wizard shows you all of the criteria which must be met in order to successfully
complete your year-end close. Completed steps will be indicated with a green check mark. Steps yet to
be completed will be indicated with a red “x”. Steps need to be completed in sequential order.

Each item able to be completed will show as a light blue hyperlink, allowing you to click on the words
and follow the link to the pertinent page in the wizard which allows you to edit or upload the needed
information.

  • Verify all necessary transactions are imported
  • Verify dependents are imported
  • Verify & Update 1094-C Prerequisites
  • Verify & Update ACA Information assignments
  • Verify & Update ACA Plan information
  • Verify & Update important company information
  • Verify & Update Standard Measurement Period information
  • Verify & Update Initial Measurement Period information
  • Create new setup data for next filing year (ACA Information Assignments; SM Periods; ACA Plan
    records)
  • Run Year-End Close process
  • Review 1095-C information
  • Review 1094-C’s
  • Fulfill and File Forms
If you return to a previously completed step and make changes, you may wish to revisit
subsequent pages to ensure your changes don’t require you to re-enter or validate
information.

Verify all necessary transactions are imported

You may wish to use the following checklist to verify that all transactions types for the year have been
upload/imported:

  • Pay Code [used to determine hours of service and eligibility]
  • Benefit/Deduction [used to determine coverage]
  • Transactions of “Type4” [used in certain safe harbor calculations for 1095-C]

If “Yes” is chosen from the drop down list on the transaction verification page, you may click “Next” and
move on.

If “No” is chosen from the transaction verification page, after clicking next you will receive the message
below.

  • Click “Ok” and click the “Save for Later” button.
  • Your progress has been saved and you may now import/upload all of your transactions.
  • Once transactions have been uploaded, access the year-end wizard again and continue.

Verify dependents are imported

Dependent information is only important for self-insured companies. If your ALE group contains one or
more such companies you MUST have dependent information on file for them. If you are fully insured
you may answer “NA”

If “Yes” is chosen from the drop down list on the dependent verification page, you may click “Next” and
move on.

If “No” is chosen from the dependent verification page, after clicking next you will receive the message
below.

  • Click “Ok” and click the “Save for Later” button.
  • Your progress has been saved and you may now import/upload or modify dependent
    information.
  • Once dependent information has been completed, access the year-end wizard again and
    continue.

Verify & Update 1094-C Prerequisites

This page is used to make sure 1094-C reporting information is accurate. Once you are finished with
this page, click “Next” to move on.

  • Contact Information: This is the person to contact who is responsible for answering any
    questions from the IRS regarding the filing of or information reported on Forms 1094-C or
    1095-C.
  • Signature Title/Name: This is the person whose information appears on the signature line for
    the 1094-C. It is often the same person listed as the contact individual, but not always. If filing
    electronically, Signature Name and Signature Title will appear on the form submitted to the
    IRS. No signature is need. If filing via paper, then Signature Name, Signature Title, and
    Signature (not included above) will all be blank on the form and you will need to fill them in
    manually. (Example Title = HR Supervisor or CEO)
  • Is this company the Authoritative Company: This choice will only appear if this company
    shares an EIN with another company. Marking “Yes” set this company as authoritative. If
    another company was already marked as authoritative then it will be unmarked in favor of this
    one.
  • Is this company eligible for the qualifying offer method: This determines whether the
    company will mark line 22 Box A on the 1094-C. It generally refers to companies who are
    offering a qualifying offer to all employees (aka offer code 1A on their 1095-C). For a complete
    definition of Eligibility for Qualifying offer method see the IRS instructions.
  • What is the plan start month?: Note: this question is not applicable to the 2017 filing year.
    This choice will only appear of you answered Yes to the non-calendar year question. Enter the
    final month that the plan is in effect.
  • How many full time employees did you have: This choice will only appear of you answered
    Yes to the non-calendar year question. Enter the number of employees for this
    company, BUT if this company is in an ALE Group then enter the aggregate total employees for
    the ALE group
  • Did this company offer affordable coverage providing minimum value to at least 98% of
    employees and offer minimum essential coverage to the dependents of those
    employees: This determines whether the company will mark line 22 Box D on the 1094-C. For a
    complete definition of Eligibility for 98% Offer Method see the IRS instructions