IRS to Host Webcast for Employers on Reporting of Minimum Essential Coverage under Tax Code Section 6055

NBCH thanks the American Benefits Council for the information provided in this post.
 
The Internal Revenue Service (IRS) will host a webcast for employers on September 9 at 2:00 p.m. Eastern Time to describe how applicable large employers should report minimum essential coverage under Internal Revenue Code Section 6055, as required by the Patient Protection and Affordable Care Act (PPACA).

(This follows the agency's recent webcast on employer reporting of health care coverage under Section 6056. A digital playback is available here.)

Code Section 6055 requires every health insurance issuer, including sponsors of self-insured health plans, to file annual returns reporting certain information for each individual for whom minimum essential coverage is provided and to provide a copy of the return to the individual.

On March 5, the Internal Revenue Service (IRS) issued final regulations on Section 6055 reporting, followed by the release of draft forms on July 24. IRS instructions for completing the forms have not yet been released. These reporting requirements will not be effective until 2015 (first reporting is due in early 2016).

The September 9 IRS webinar will cover:

• Internal Revenue Code Section 6055
• Who is required to report
• What elements are required to be reported
• How do government entities designate reporting

Speakers for the webcast will include Tennille Francis, Tax Law Specialist, IRS office of Federal State & Local Governments; Stephen Tackney, Deputy Division Counsel/Deputy Associate Chief Counsel, IRS office of Chief Counsel; and Jeffrey T. Rodrick, Senior Technician Reviewer, IRS office of Chief Counsel.

Interested individuals can register for the IRS webcast here.