How to file ACA corrections for your business in 2024

Filing corrections for your ACA (Affordable Care Act) filings might seem daunting, but it’s a manageable process if you follow the right steps. Here’s a guide that’s easy to understand, to help businesses file ACA corrections in 2024.

‍

Why You Might Need to File ACA Corrections and How to File them.

Mistakes can happen when submitting ACA information returns to the IRS. Common errors include incorrect employee information, wrong coverage dates, or incorrect amounts. Correcting these errors ensures compliance and helps avoid penalties.

Step 1: Identify the Errors:

Carefully review the forms you originally submitted to identify any mistakes. The key forms involved are:

• Form 1094-C: Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns.
• Form 1095-C: Employer-Provided Health Insurance Offer and Coverage.

Step 2: Gather Correct Information.

Before making corrections, ensure you have the correct information. This includes accurate employee details, correct coverage dates, and the correct amount of coverage offered.