IRS Code 1094C-047 is a notification sent to employers who have failed to provide all the necessary information on Form 1094-C. This oversight can have serious implications for ACA compliance and may result in penalties.
What Triggers Code 1094C-047?
This code is issued when an employer’s Form 1094-C submission is incomplete, lacking essential details required under the ACA for accurate processing and compliance verification.
Steps to Resolve Code 1094C-047
- Review the IRS notice to identify which information is missing from your Form 1094-C.
- Gather the required information, ensuring it is accurate and comprehensive.
- Amend your Form 1094-C to include the missing details and resubmit it to the IRS as soon as possible.
Preventing Future Issues
To avoid similar issues in future submissions:
- Conduct thorough checks before submitting your ACA forms to ensure all required data fields are completed.
- Keep up-to-date with ACA reporting requirements to understand what information needs to be collected and reported each year.
- Employ ACA compliance tools that help ensure forms are complete and accurate before submission.
Getting Help
If you need assistance with completing Form 1094-C or understanding your compliance obligations, visit ACA Track’s FAQ page or consult an ACA compliance expert.
