Compliance Corner
March 20, 2018


Podcast Episode 26: Is the DOL's Fiduciary Rule Doomed?
Reminder: Sections 6055 and 6056 Reporting Deadlines

Health Care Reform

CMS Letter Questions Idaho's Authorization of Non-ACA-Compliant Individual Policies

Federal Health Updates

IRS Updates Publication 969 Addressing HSAs, HRAs and Health FSAs
IRS Publishes 2018 Version of Publication 15-B, Employer's Tax Guide to Fringe Benefits
IRS Revises Certain Annual Limits Due to Tax Reform Legislation
Fifth Circuit Reverses Standard of Review for ERISA Cases

Retirement Updates

Fifth Circuit Vacates the Fiduciary Rule
Tenth Circuit Rules in Favor of DOL Fiduciary Rule on Issue of Fixed Indexed Annuities
IRS Memo Provides Guidelines for Missing Participant Audits of 403(b) Plans

State and Territory Updates



We have an employee moving from full-time to part-time. Do we need to continue offering benefits?


Podcast Episode 26: Is the DOL's Fiduciary Rule Doomed?

In this episode, Beth Allen, former DOL investigator, discusses the DOL's fiduciary rule and how it changed the definition of "fiduciary" to include more investment advisors. Then she highlights the recent Fifth Circuit Court decision that could result in the Fiduciary Rule's demise.

Every other week, NFP's legal experts make the subject of compliance personal for a wide audience. By breaking down the daunting details of emerging policies and bridging the gap between legislation and what it means for the listener, Chase Cannon and Suzanne Spradley make compliance issues relatable and relevant. Visit our Visit our Soundcloud page every two weeks for the most up-to-date episode.

Subscribe to The Benefits Compliance Podcast! Listen on Google Play Music

Reminder: Sections 6055 and 6056 Reporting Deadlines

Applicable large employers (ALEs — those with 50 or more full-time employees, including equivalents) during 2016 must comply with IRC Section 6056 reporting in 2018. Specifically, ALEs should have completed and distributed a Form 1095-C to full-time employees by March 2, 2018. Additionally, self-insured employers should have completed and distributed Forms 1095-B to employees by March 2, 2018 (as required under IRC Section 6055 reporting requirements).

While the deadline for filing paper forms with the IRS passed on Feb. 28, 2018, employers filing electronically must file their forms with the IRS by March 31, 2018. Employers that file 250 or more Forms W-2 are required to file electronically. Lastly, the employer is required to a file the transmittal Form 1094-C (if filing Forms 1095-C) or Form 1094-B (if filing Forms 1095-B).

Form 1094-C »
Form 1095-C »
Forms 1094-C and 1095-C Instructions »
Form 1094-B »
Form 1095-B »
Forms 1094-B and 1095-B Instructions »