Rhode Island State ACA Filing Now Required for TY 2020

Rhode Island State ACA filing is now required for ACA forms for Tax Year 2020. We know that new requirements can be tricky, so let us help you with your state and federal filing!

We have compiled a list of the most commonly asked Q&A’s you need to know to be ready for January:

Do I need to e-file my ACA forms with Rhode Island?

If you are an employer of a Rhode Island resident, or if you provide Minimum Essential Coverage to a Rhode Island resident, you must report your ACA data.

What about out of state filers?

Out-of-State employers who employ Rhode Island residents have the same filing requirements as in-State businesses. These requirements are not limited to businesses that withhold Rhode Island payroll taxes. If you are an out-of-State employer, you must ensure that RI receives any required 1095 document for each Rhode Island resident you employ. Insurers, government agencies, multi-employer plans, and all others responsible for reporting Minimum Essential Coverage to Rhode Island residents also must file the required information with the State.

What are the deadlines for ACA forms in Rhode Island?

The Rhode Island state ACA filing deadline is January 31, but for TY2020 only, the RI Division of Taxation will extend the reporting deadlines to March 2, 2021 for furnishing recipient copies and March 31, 2021 for e-filing.

Please note: If you are an employer, and if your insurer completes the reporting requirement listed, then there are no further reporting requirements expected of you.

Conclusion

Employers must keep these ACA state requirements in mind when completing their filings. It’s imperative that employers ensure that these state requirements and federal requirements are met prior to each applicable deadline.

Find more information about the Rhode Island state ACA filing program here:
https://tax.ri.gov/guidance/health-insurance-mandate

BoomTax, The Boom Post, and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors prior to engaging in any transaction.

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