The consequences of noncompliance of the employer’s responsibility under ACA regulations can be severe.  There are assessment fees, penalties and fines for noncompliance.  The ACA provisions are complex, and the applicable penalty depends on which of these many ACA provisions is violated and the nature and extent of the violation. In addition to shared responsibility assessment fees, employers should keep the following penalties in mind as they work to ensure ACA compliance for their group health plans.

2020 penalty rates

For ACA forms/statements/filings Due 1/1/2020 through 12/31/2020

Penalty for ACA returns filed/furnished if less than 30 days late: $50 per return or statement ($194,500 maximum)

Penalty for ACA returns filed/furnished 31 days late until August 1: $110 per return or statement ($556,500 maximum)

Penalty for ACA returns filed/furnished after August 1: $270 per return or statement ($1,113,000 maximum)

Keep in mind that there is a penalty on furnishing and filing. The $270 penalty is doubled to $540 if the forms or statements were neither filed NOR furnished.