In this episode, Beth Allen, former DOL investigator, discusses the DOL's fiduciary rule and how it changed the definition of "fiduciary" to include more investment advisors. Then she highlights the recent Fifth Circuit Court decision that could result in the Fiduciary Rule's demise.
Every other week, NFP's legal experts make the subject of compliance personal for a wide audience. By breaking down the daunting details of emerging policies and bridging the gap between legislation and what it means for the listener, Chase Cannon and Suzanne Spradley make compliance issues relatable and relevant. Visit our Visit our Soundcloud page every two weeks for the most up-to-date episode.
Applicable large employers (ALEs — those with 50 or more full-time employees, including equivalents) during 2016 must comply with IRC Section 6056 reporting in 2018. Specifically, ALEs should have completed and distributed a Form 1095-C to full-time employees by March 2, 2018. Additionally, self-insured employers should have completed and distributed Forms 1095-B to employees by March 2, 2018 (as required under IRC Section 6055 reporting requirements).
While the deadline for filing paper forms with the IRS passed on Feb. 28, 2018, employers filing electronically must file their forms with the IRS by March 31, 2018. Employers that file 250 or more Forms W-2 are required to file electronically. Lastly, the employer is required to a file the transmittal Form 1094-C (if filing Forms 1095-C) or Form 1094-B (if filing Forms 1095-B).
Form 1094-C »
Form 1095-C »
Forms 1094-C and 1095-C Instructions »
Form 1094-B »
Form 1095-B »
Forms 1094-B and 1095-B Instructions »