TIMELINE TO FIX IRS 1094-C /1095-C STATUS OF “ACCEPTED WITH ERRORS” & “REJECTED”

TIMELINE TO FIX IRS 1094-C /1095-C STATUS OF “ACCEPTED WITH ERRORS” & “REJECTED”

KB14-075

Our understanding is that the companies must submit corrections for “Accepted with Errors” within a “reasonable” period of time. “Rejected” should be replaced within 60 days.  The following links are for webinars for filing year 2016.  There are no updates about this for 2017 or 2018.

https://www.irsvideos.gov/Business/AffordableCareActInformationReturnsCorrectionsProcess

Once the information returns have been filed with the IRS, you´re expected to file any corrections as soon as possible. The filer should file a correction when it obtains the TIN or the date of birth if the TIN is not provided.

https://www.irs.gov/pub/info_return/June_2016_Webinar_Presentation.pdf 

Question #2: When are corrections required to be submitted?

IRS Response #2: As soon as possible after you discover that inaccurate information was submitted and you get the correct information.

 

Question #3: Are we required to submit corrections by the due date of the return (June 30, 2016)?

IRS Response #3: No.

 

Question #12: What happens if a filer does not submit a replacement file within the allowable 60 day window?

IRS Response #12: When a replacement file is submitted within 60 days from the original transmission date, the file will be treated as filed on the date of original submission.  If a replacement file is submitted after the 60 day period, the file will be treated as filed on the date the replacement file is submitted.  For ACA Information Returns, if the original transmission date is on or before June 30, 2016, the replacement file should be submitted no later than 60 days after the original transmission date.

 

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Last Review:      5/8/2018 – Revision: 1.0

Applies To:  ACA Compliance Solution

Categories:   Year End – 1095-C and Filing, Year End – Prerequisites

Key Words:   Errors, Rejected

 

2018-05-08T11:31:00+00:00May 8th, 2018|0 Comments

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