IRS Notice 1094C-037 is issued to employers who either failed to file Form 1094-C or filed it incorrectly. This notice is a serious reminder of the compliance requirements under the Affordable Care Act (ACA) and can result in penalties if not addressed properly.
Understanding Notice 1094C-037
This notice may be received due to various issues such as failing to file on time, submitting incomplete forms, or errors in the information provided on Form 1094-C. It is crucial for employers to understand the specifics of the notice to respond adequately and avoid future penalties.
Steps for Responding to Notice 1094C-037
- Review the notice carefully to understand the specifics of the filing failure or error.
- Gather all relevant information and documentation related to your ACA reporting for the year in question.
- Correct any errors on your Form 1094-C and refile it, or file it promptly if it was not submitted previously.
Preventive Measures to Avoid Future Notices
To avoid receiving Notice 1094C-037 in the future:
- Ensure that all ACA-related forms are filed on time and accurately. Use calendars and reminders to track important filing dates.
- Regularly review and update your ACA compliance procedures to align with current IRS guidelines.
- Consider employing ACA compliance software to assist with accurate and timely reporting.
Additional Assistance
If you need further guidance on ACA reporting or handling IRS notices, explore ACA Track’s FAQ page or seek advice from an ACA compliance expert.
