This article outlines the high-level steps you'll perform to comply with the year-end Affordable Care Act reporting requirements Step 1: Learn about the reporting requirements for the Affordable Care Act. The Internal Revenue Service's Affordable Care Act tax provisions website is a place to start. Step 2: Confirm that your Sage software is set up to track the ACA information you’ll need to report on W-2 and ACA forms. You’ll want to make sure you have been tracking this information for your employees all year. For Help with this step, review the knowledgebase article, in the Related Solutions section below, titled How do I set up Sage 100 Contractor to support ACA requirements? Step 3: Examine your employee count for the previous calendar year to determine whether you're an Applicable Large Employer (ALE). The “large” employer requirement is generally 50 full-time or full-time equivalents; however, there are situations that impact this such as hours worked, participation in a controlled or aggregate group, seasonal workers, and transitions for new employers. Be sure to carefully review the IRS requirements. You can run the 5-4-3 ACA Hours Allocation Report in Sage 100 Contractor to help you identify full-time employees. Step 4: Consult your accountant or CPA to determine which ACA forms you're required to submit. | Which ACA forms are you required to submit? | Not Self-Insured | Self-Insured | | Fewer than 50 FTEs | 50+ FTEs | Fewer than 50 FTEs | 50+ FTEs | | Form(s) to employees | No reporting requirements | 1095-C (Parts I and II) | 1095-B | 1095-C (All parts) | | Form(s) to IRS | No reporting requirements | 1094-C (and copies of all 1095-C forms) | 1094-B (and copies of all 1095-B forms) | 1094-C (and copies of all 1095-C forms) | Step 5: Install any year-end product releases that are required for ACA reporting. Step 6: Use the Aatrix Preparers to generate ACA and W-2 forms. You will also use the Aatrix - Preparer to generate W-2s, which include employer-sponsored health care coverage in box 12. [BCB:154:Chat 100 Contractor US:ECB] |