What are the two annual information-reporting requirements under the Affordable Care Act (ACA)?

Author: Gloria Ju

The ACA requires employers to file annual reports in compliance with Internal Revenue Code (IRC) Sections 6055 and 6056. IRC Section 6055 pertains to the minimum essential coverage provided by an employer and to the individuals to whom such coverage was provided. IRC Section 6056 pertains to the terms and conditions of the health care coverage an employer provides to its full-time employees.