Pub. 14 2015-2016 Issue 1

N E W J E R S E Y C O A L I T I O N O F A U T O M O T I V E R E T A I L E R S I S S U E N O . 2 , 2 0 1 5 32 new jersey auto retailer REPORTING REQUIREMENTS  continued from page 31 the IRS. This information return will assist the IRS with enforcement of the individual mandate. Plans can report the follow- ing information using IRS Forms 1094-B (for the IRS) and 1095-B (for the IRS and employee): • The name, address, and Employer Iden- tification Number (EIN) of the reporting entity, and, for employer-provided cover- age, the employer sponsoring the plan • Phone number for the person designated as a contact who can handle questions • Policy number • Name, address, andTaxpayer Identification Number (TIN) or date of birth of the re- sponsible individual (e.g., employee, spouse or parent) who enrolled the individuals in coverage. (This is optional if the responsible individual did not enroll in coverage.) • Name andTaxpayer IdentificationNumber (TIN) or date of birth of each covered indi- vidual, including dependents • Months during which each covered indi- vidual, including dependents, was enrolled in coverage and entitled to receive benefits for at least one day of the calendar month Although employersmayuseTINs already in their records, many employers are not in the habit of collectingdependentTINs. Therefore, self-insuredemployers need toplannowtocol- lect the TINs of all individuals covered under their plans. The IRS has indicated that health coverage providers must make “reasonable efforts” to collect TINs. Employers should initially request TINs while administering new enrollments. If a TIN is not provided at enrollment, the employer must make at least two more requests, one before the end of the first calendar year during which coverage is in force, and one during the year following. If these “reasonable efforts” to obtain the TIN fail, the covered individual’s date of birthmay be reported instead. Large Employer Reporting IRCSection 6056 also requires all employers, regardless of their funding arrangement (e.g., insured or self-funded), that meet the definition of a large employer under the ACA (those employing 50 or more full- time equivalents) to inform the IRS about the coverage offered to their full-time em- ployees (under the ACA definition of 30 hours per week), and requires employers to provide each full-time employee with a copy of the information given to the IRS about that employee. This information will assist the IRS with enforcement of the employer mandate, and aid eligible individuals in accessing financial as- sistance through the health insurance marketplace. Employers can report the following information using IRS Forms