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What You Need to Know About the ACA Section 6055 and 6056 Reporting Requirements

Person looking at and writing on tax documents and workbooks

The Affordable Care Act requires employers with 50 or more full-time employees (or full-time equivalents) to report information about the health coverage they offer or don’t offer their employees to satisfy Internal Revenue Code Sections 6055 and 6056. To comply with these requirements, employers need to be familiar with two documents: the Section 6055 Reporting Workbook and the Section 6056 Reporting Workbook. But what exactly are these documents, and how can employers use them? Let’s take a closer look.

What is Section 6055 and 6056 reporting?

Under IRC Section 6055, entities that provide minimum essential coverage must report details of health insurance coverage offered or not offered during a calendar year. This includes details such as which employees were covered under an employer-sponsored plan, when coverage began and ended, whether any minimum essential coverage was offered, etc. The requirements in IRC Section 6056 cover larger employers classified as Applicable Large Employers.

How can employers use these documents?

The ACA created two workbooks ─ one for collecting data for IRC Section 6055 reporting and another for collecting data for IRC Section 6056 reporting – both of which employers can use to record the information needed to satisfy these ACA reporting requirements. Employers can also use the associated instructional guides ─ the Section 6055 Reporting Workbook Instructional Guide and Section 6056 Reporting Workbook Instructional Guide ─ to help ensure that they are complying with all applicable laws related to employer-sponsored health insurance coverage. To get a copy of the Section 6055 Reporting Workbook Instructional Guide or Section 6056 Reporting Workbook Instructional Guide, contact HANYS Benefit Services online or call 800.388.1963.

Complying with ACA requirements

Employers must submit their Section 6055 and/or Section 6056 reports each year within certain deadlines, typically in early January of the following year after the end of the previous calendar year. For coverage in 2022, reporting is due in early 2023. Employers must meet these deadlines to avoid possible penalties associated with noncompliance. 

The ACA imposes significant reporting requirements on employers offering or not offering healthcare plans for their employees, but understanding these requirements can be simple with the workbooks and instructional guides. By using these documents and submitting reports on time each year, employers can ensure that they are meeting all applicable regulatory requirements.

For more information about employee benefits, our services and products, contact HANYS Benefit Services online or call 800.388.1963.

© 2015-2022 Zywave, Inc. All rights reserved. This document is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice.

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