ACA News August
 
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Greatland 1095 Reporting News – August 2016
 
Although the 2016 ACA reporting season is right around the corner, it’s important to close out
the 2015 reporting season on the right note. If you submitted 1095/1094 forms for tax year 2015
and received an error message, Yearli requires you to submit corrections
before the end of November 2016.
 
Correction Needed – TIN Validation Failed
One of the most common ACA reporting errors during tax year 2015 was “TIN Validation Failed.” This means the IRS found an error with a Name/TIN combination on the 1094 and/or 1095 forms that were submitted. This error needs to be validated, and if a correction is needed, then one should be submitted. If you received a reporting error on a 1095 form, please refer to the applicable correction guide below to learn more about the error and how to file a correction.

TIN VALIDATION ERROR CORRECTION GUIDE FOR YEARLI PERFORMANCE
TIN VALIDATION ERROR CORRECTION GUIDE FOR YEARLI DESKTOP
Filing 1095/1094 Corrections Through Yearli
Correcting errors and resubmitting forms is easy. You can also print and mail your forms again if needed.

Filing Corrections in
Yearli Performance
1. Log in to your account, which will automatically take you to Your Filing Home
2. See error message, found in the Message Center in the lower right corner of Your Filing Home.
3. Click "View Details" in the Message Center, make your changes, and submit correction.
Filing Corrections in
Yearli Desktop
1. Open Yearli Desktop.
2. Go to E-file Center menu along the menu bar.
3. Select Status.
4. Select the order number and click the Order Status Detail.
5. Correct Errors.
6. Select the Correct button to the right of the Forms List grid.
7. Save the Corrected form by clicking OK.
7. Submit your corrected forms using the E-file Center.
Rejections
If you received a rejection notice from the IRS you must correct the information and refile the form. The IRS allows up to 60 days from the date the forms were transmitted to the IRS to refile returns or the reporting entities responsible for filing these forms could be subject to late filing penalties.

Clarification
If you received a “Correction Needed” message you can submit a correction, while a “Rejection” requires you to refile the form.
Message Recieved What do I do? What do I file?
Correction Needed Validate error and correct data,
if needed.
File a correction, if needed
Rejection Correct data Refile
Ensuring Accurate Name/TIN Data
It is imperative to ensure that you have accurate Name/TIN data for filing your 1094/1095 forms. This information is important to avoid “TIN Validation Failed” error messages. Be sure to make the changes in your payroll or HR/Benefits software application to ensure any errors you received in Tax Year 2015 will not reoccur in Tax Year 2016.

What’s most important for 2016 reporting is to implement and document your process and procedures. This should be part of the enrollment process. The recommended steps from the IRS are outlined below in IRS Publication 1586 (Rev. 2-2016).
Refer here for more details.

“Pending the issuance of additional guidance, reporting entities filing Form 1095-B or Form 1095-C will not be subject to penalties for the inclusion of an incorrect TIN if they comply with the requirements of Treas. Reg.301.6724-1(f) with the following modifications:

  1. The initial solicitation is made at an individual’s first enrollment or, if already enrolled on September 17, 2015, the next open season,
  2. The second solicitation is made at a reasonable time thereafter, and
  3. The third solicitation is made by December 31 of the year following
    the initial solicitation.
Additionally, a reporting entity is not required to solicit a TIN from an individual whose coverage is terminated.”
Additional Reporting Help
As always, we’re here to help. If you have any ACA (or W-2 & 1099) reporting questions, don’t hesitate to reach out!
Coming Soon:
  • ACA Year 2 Webinar Schedule
  • Tax Year 2016 Import Template
Previous Greatland ACA Newsletter:
Mark your Calendar
Form 1095 - Tax Year 2016 Deadlines
 
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