ACA Large Employer Information Reporting Regulations

The U.S. Treasury Department issued final regulations (the ?Ç£Regulations?Ç¥), published on March 10, 2014, regarding the information reporting requirements for large employers (i.e., those with at least 50 full-time employees or equivalents (?Ç£FTEs?Ç¥)) under Section 6056 of the Internal Revenue Code of 1986, as amended (the ?Ç£Code?Ç¥). Section 6056 of the Code was added by the Affordable Care Act (the ?Ç£ACA?Ç¥) to require large employers to provide information to the Internal Revenue Service (the ?Ç£IRS?Ç¥) and to their FTEs that is necessary for the IRS to administer the ACA?ÇÖs employer shared responsibility provisions (also known as the ?Ç£play or pay?Ç¥ rules), as well as the individual premium tax credit under Section 36B of the Code. Specifically, the Regulations require each large employer to report certain information regarding the ?Ç£minimum essential coverage?Ç¥ that it offered (or did not offer) to its FTEs during each calendar month. The Regulations provide for a general reporting method, as well as certain simplified alternative reporting methods for eligible employers when the play or pay penalties and individual premium tax credits are unlikely to apply. A copy of the Regulations is available here.