Earlier in the year, your Strickler Team shared information regarding the IRS Form 6055 & 6056 reporting requirements for all employers with more than 50 employees (referred to as an ALE by the law). The IRS recently added policy language and strict requirements around the electronic filing of these forms. Every ALE will be subject to these requirements, and they are rather rigid; not to mention the complex administrative burden that comes with actually completing the forms. Several documents are linked below, in order they are: Strickler Compliance Brief that summarizes the complex online submission process; IRS Publication 5164; and IRS Publication 5165. The IRS publications lay out the electronic reporting requirements in detail.
As always, your Strickler Team is here to help you navigate the murky waters and significant complexities that Health Care Reform (PPACA) has brought. We will continue to stay proactive and deliver critical information to our clients and prospects. If we can help in any way, please don’t hesitate to contact the Employee Benefits Department of Strickler Agency Inc.