The IRS has announced that electronic Affordable Care Act (ACA) information returns may continue to be filed after the filing deadline, which was June 30, 2016.

These returns are required under Internal Revenue Code (Code) Sections 6055 and 6056, which were created by the ACA. Certain employers must file their returns electronically through the ACA Information Returns (AIR) Program.

The IRS will not assess penalties for late filing on reporting entities that have made legitimate efforts to file information returns, if they continue to make efforts and complete the process as soon as possible. In addition, penalties may be waived in some cases, for reasonable cause.

Employers that are not electronic filers and missed the May 31, 2016, paper filing deadline should also complete the filing of paper returns as soon as possible.

The AIR system will remain up and running after the deadline of June 30, 2016.

According to the IRS:

• The AIR system will continue to accept information returns filed after June 30, 2016. In addition, employers can still complete required system testing after June 30, 2016.
• If a transmission or submission was rejected by the AIR system, reporting entities have 60 days from the date of rejection to submit a replacement and to have the rejected submission treated as timely filed.
• If a reporting entity submitted and received “Accepted with Errors” messages, it may continue to submit corrections after June 30, 2016.

Please contact your NEEBCo representative for more information on Section 6055 and Section 6056 reporting.