IRS Code 1094C-049 is sent to employers who fail to file Form 1094-C, a critical component of compliance reporting under the Affordable Care Act (ACA). This oversight can result in significant penalties and compliance issues.
Consequences of Not Filing Form 1094-C
Failing to file Form 1094-C can lead to penalties and complicate your ability to prove compliance with ACA employer mandates. It’s essential to address this issue promptly to avoid additional fines and potential legal complications.
How to Address Failure to File
- Immediately prepare and submit the missing Form 1094-C to the IRS.
- Ensure that all information on the form is accurate and complete to avoid further issues.
- If necessary, consult with an ACA compliance expert to ensure proper submission and compliance procedures are followed.
Preventing Future Filing Issues
To avoid future issues with failing to file Form 1094-C:
- Establish reminders and checklists for all ACA reporting deadlines to ensure timely submissions.
- Regularly review your ACA compliance processes to catch and address potential issues before they result in non-compliance.
- Consider using ACA compliance software to automate and manage your reporting obligations effectively.
Getting Help with ACA Compliance
If you need help with ACA reporting or have questions about your compliance obligations, you can find additional resources and expert assistance at ACA Track’s FAQ page.
