Employers with 50 or more full-time and/or full-time equivalent employees ("ALEs" under the ACA), health insurance issuers (insurance companies) and other sponsors of health plans must report information about their health plans to the IRS in early 2016 for 2015. These Code Sections 6055 and 6056 reporting requirements, may cause administrative challenges for employers and plan sponsors as some of the required information (i.e. dependent social security numbers) is not customarily captured by many HR systems. Noncompliance will be costly as penalties of $100 per return, up to $1,500,000, can be assessed; however short term relief has been issued provided that a good faith effort to comply can be shown.  Read