Overview: Employers must remain compliant with the various federal and state laws and regulations that impose reporting requirements. While many of these requirements vary depending on an employer's industry or its contractual relationships, most employers must comply with equal employment opportunity (EEO) reporting requirements. In addition, the Occupational Safety and Health Administration (OSHA) requires a number of reports depending on the employer's particular circumstances. Regarding environmental protections, employers in certain states may have additional requirements than those imposed by the federal Environmental Protection Agency (EPA). Employers in the pharmaceutical industry have different reporting requirements than those in the transportation sector. However, reporting of new hires, retirement benefits and health and welfare plans are subject to strict regulatory rules across industries.
Although some employers may view such requirements as costly and onerous, proper recordkeeping practices and sound internal audit procedures will lessen the possibility of future fines and penalties.
Trends: Due to several high-profile corporate frauds, reporting requirements in the financial sector have increased in the past decade. Various stakeholders continue to track the rising costs of additional reporting requirements under the Sarbanes-Oxley Act of 2002 (SOX) and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank).
Author: Marta Moakley, JD, Legal Editor
This section helps HR professionals manage challenges that come with operating in multiple states, notably complying with differing state and key municipal laws, and addresses the pros and cons of having a centralized or decentralized HR department. Trends currently affecting multistate employers are identified, such as same-sex marriage laws and tracking various state leave laws, are discussed.
The IRS released final instructions for Forms 1094-C, 1095-C, 1094-B and 1095-B, which may be used by employers to report on employee health care coverage, as required by the Affordable Care Act.
The IRS has released the final instructions to Forms 1094-C and 1095-C and Forms 1094-B and 1095-B. Employers are required to complete and file the forms with the IRS to report on their employee health care coverage, as required by the Affordable Care Act (ACA) and Internal Revenue Code § 6055 and § 6056.
This briefing for supervisors examines the law and best practices regarding OSHA recordkeeping, posting and reporting in the workplace.
The IRS has released draft instructions for employers to use when completing the forms required by the Affordable Care Act (ACA) under Internal Revenue Code § 6055 and § 6056. An employer must use these forms to report to the Internal Revenue Service on its employee health care coverage.
The IRS released drafts of the forms employers will use to report annually on the health care coverage they offer to their employees as required by the Affordable Care Act (ACA).
These FAQs provide answers to some of the most commonly asked questions about the Affordable Care Act's annual reporting requirements related to the terms and conditions of health care coverage provided to full-time employees under Internal Revenue Code Section 6056.
HR guidance on reporting requirements.