Information Reporting for Applicable Large Employers
Under the Affordable Care Act, an applicable large employer (ALE), those with 50 or more full-time employees including full-time equivalent employees, are required to file new information returns with the Internal Revenue Service (IRS) and provide statements to their full-time employees about offers of health insurance coverage. These new information returns and employee statements will be filed for the first time in early 2016 reporting coverage information for the 2015 calendar year. These reporting requirements are very complicated and will draw from information tracked in the payroll and employee benefits records. Most third-party payroll providers are positioned to prepare and file these new reporting obligations, though additional information will need to be made available to them.