What is Form 1094-B?
Form 1094-B is a crucial document for health insurance providers in the United States. It acts as a cover sheet for the 1095-B form, which provides detailed information about individual health coverage. This form is essential for reporting health coverage data to the IRS, helping them monitor compliance with the Affordable Care Act (ACA). It includes important details such as the provider's Employer Identification Number (EIN) and contact information, ensuring that the IRS can verify who has health insurance that meets ACA standards.
What is Form 1094-B used for?
Form 1094-B is an important document for health coverage reporting. Here's what it's used for:
- Transmittal Form: Accompanies multiple Form 1095-B filings to the IRS.
- Summary Information: Provides a summary of the information being filed in Forms 1095-B.
- Reporting Coverage: Helps track coverage details for individuals with minimum essential coverage (MEC).
- ACA Compliance: Ensures compliance with Affordable Care Act (ACA) reporting requirements to avoid penalties.
How to fill out Form 1094-B?
- 1
Enter Filer’s Name: Write the complete name of the filer on Line 1.
- 2
Enter EIN: Input the nine-digit Employer Identification Number (EIN) on Line 2.
- 3
Contact Information: Provide the contact person's name and telephone number on Lines 3 and 4.
- 4
Employer Address: Fill in the complete address of the filer on Lines 5–8.
- 5
Total Forms 1095-B: Enter the total number of Forms 1095-B transmitted with Form 1094-B on Line 9.
Who is required to fill out Form 1094-B?
Insurance companies and health coverage providers are responsible for completing Form 1094-B. This is part of their obligation to report health coverage information to the IRS under the Affordable Care Act.
The IRS uses Form 1094-B to monitor compliance with ACA standards. Employers and health insurance providers submit this form to provide details about their employees' and customers' health coverage.
When is Form 1094-B not required?
Form 1094-B is not required for organizations in government programs like Medicare, Medicaid, and CHIP. Companies with fewer than 50 full-time employees providing self-insured health coverage may also qualify for an exemption. Furthermore, certain coverage types, such as dental and vision plans, might not necessitate filing this form. Always check your specific situation to confirm requirements.
When is Form 1094-B due?
The deadline for Form 1094-B is February 28, 2025, for paper filing and March 3, 2025, for providing employee copies. If you are filing electronically, the deadline is March 31, 2025. Missing these deadlines can lead to penalties of $330 per form, with a maximum annual fine of $3,987,000 for not filing or furnishing individual copies.
How to get a blank Form 1094-B?
To get a blank Form 1094-B, the Transmittal of Health Coverage Information Returns, simply visit our website. This form is issued by health insurance providers and certain entities to report health coverage information to the IRS under the Affordable Care Act. Remember, our platform helps you fill and download forms, but not file them.
Do you need to sign Form 1094-B?
No, you do not need to sign Form 1094-B. This form serves as a transmittal for insurance providers to send to the IRS alongside Form 1095-B, reporting health coverage information. However, it’s wise to check for the latest updates to ensure compliance. With PDF Guru, you can fill out this form, download it for your records, and handle any further steps outside of our platform.
Where to file Form 1094-B?
To submit Form 1094-B, you must mail it to the IRS. Ensure you check the specific address in the instructions available on the IRS website.
Remember, this form cannot be filed online. Double-check everything before mailing to avoid delays.
