Federal and NJ 1094/1095 Reporting Reminders | New Electronic Filing Requirements
Savoy's reporting guide will help you and your clients understand Federal and New Jersey reporting rules and requirements, as well as additional carrier filing information.
Published: 03.19.2024
As we approach the Affordable Care Act (ACA) reporting deadlines, it's crucial to stay ahead of the New Jersey and Federal 1094/1095 reporting requirements. This information is especially important for employers based in New Jersey, as well as those employing New Jersey residents or their dependents.Federal Reporting
A significant update for federal reporting this year is that electronic filing is now mandatory for all groups with 10 or more information returns per EIN, including both 1095s and W-2s. Therefore, groups with a combination of these forms totaling 10 or more must file electronically.New Jersey Reporting
Under New Jersey’s Individual Mandate, employers face expanded responsibilities for 1095 reporting.- All employers in New Jersey; or
- Those employing someone who was a resident of New Jersey or whose dependent was a resident of New Jersey for at least 15 days of the calendar year.
Carrier Responses
Carriers have different approaches to the filing requirements, which we’ve outlined in our 1094/1095 Reporting Guide. While certain carriers may indicate that they will be meeting the filing requirements on behalf of some employers, all employers should verify their specific obligations and be prepared to independently manage these requirements.Because of the electronic filing requirement, employers should be mindful of the difference between “providing forms” and “filing” forms. When a carrier is “providing” but not “filing,” the employer will need to file electronically on their own, generally requiring the assistance of an external vendor.
Deadlines
- Distributed to employees by March 1, 2024, and they must be mailed rather than simply made available on an employee portal or other platform.
- Due to the Federal and New Jersey governments in electronic form by April 1, 2024.
Savoy’s Reporting Guide
Savoy's New Jersey and Federal 1094/1095 Reporting Guide will help you and your clients understand Federal and New Jersey reporting rules and requirements, as well as additional carrier filing information.Download our New Jersey and Federal 1094/1095 Reporting Guide.
Customizable Version
If you are one of our Platinum users, you have access to brand your own version of our guide—add your logo and easily share with your employer clients. Visit our Marketing page under the Legislative News, Compliance and Education dropdown to get started.If you have any questions, contact your Savoy Sales Team.
