Our 1095-C Refresher Webinar for the Lookback method is now ready to view in this blog, including an FAQ section. The following video shows the webinar in full. We will be posting an edited version soon.
Questions
The cost is annual. In the Employee Share, you can enter the share by month or week by selecting it from the drop-down menu.
You should report based on what actually happened. Therefore, if you missed an offer, you would report it as “no offer”.
You can use the same TCC code that you used for filing 1095’s last year.
We have seen anywhere between 10 to 45 days. Click here for more information about filing for an extension if you do not get the TCC code by the filing deadline.
You can also contact the IRS help desk (Monday-Friday, 7am-7:30pm ET) with questions regarding the application for TCC. Toll free: 866-937-4130
For federal, a test file needs to be sent just the first time to test the TCC code. The state may need it done if you’re self-insured and required to report to the state.
That is for full-time employees. The lookback method is used for employees who will be working variable hours, such as field workers, seasonal, etc.
You can set your own measurement period for variable hour employees; it does not have to be 12 months. Some customers do a six-month initial measurement period.
The deadline for providing information returns to employees is January 31; no extensions are available. The FTB does not impose a penalty for a failure to provide returns to individuals by this deadline.
Forms must be provided to the IRS by March 31 if filing electronically (February 28 if filing on paper).
Form 1094-C is used to report to the IRS summary information for the employer. Form 1095-C is used to report information for each employee and is sent to both employees and the IRS.