IRS Code 1094C-062 is issued to employers when crucial Applicable Large Employer (ALE) member information is omitted on Form 1094-C. This information is essential for the IRS to assess compliance with the Affordable Care Act (ACA).
Significance of Complete ALE Member Information
Complete and accurate reporting of ALE member information helps the IRS determine whether an employer is meeting their health coverage obligations under the ACA. Missing information can lead to compliance reviews and potential penalties.
Correcting Missing ALE Member Information
- Identify the missing information that needs to be reported by reviewing the IRS notice and your previous Form 1094-C submission.
- Gather the necessary details and prepare an amended Form 1094-C.
- Submit the corrected form to the IRS as soon as possible to update your compliance records.
Preventing Missing Information in Future Filings
To ensure all required information is reported in the future:
- Use a checklist when preparing your Form 1094-C to verify that all necessary ALE member information is included.
- Regularly train staff responsible for ACA reporting on the latest requirements and best practices.
- Implement ACA compliance software that automatically checks for completeness and accuracy in reporting.
Need More Help?
If you need assistance with ALE reporting or have questions about compliance, explore ACA Track’s FAQ page or seek guidance from an ACA compliance expert.
