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Federal Register / Vol. 86, No. 231 / Monday, December 6, 2021 / Proposed Rules The current regulations under sections 6055 and 6056 allow the IRS to grant an extension of time of up to 30
days to furnish Forms 1095B and 1095C for good cause shown. See 1.60551g4iB1 and 301.6056
1g1iiA. Additionally, filers of Forms 1095B, 1094C and 1095C may receive an automatic 30-day extension of time to file the forms with the IRS by submitting Form 8809, Application for Extension of Time to File Information Returns, on or before the due date for filing the forms. See 1.60811 and 1.60818.

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3. Information Reporting Penalties Under Sections 6721 and 6722
Section 6721 imposes a penalty for failing to timely file an information return or for filing an incorrect or incomplete information return. Section 6722 imposes a penalty for failing to timely furnish an information statement or furnishing an incorrect or incomplete information statement. The section 6721
and 6722 penalties are imposed with regard to information returns and statements listed in section 6724d, which include those required by sections 6055 and 6056. Section 6724
provides that no penalty will be imposed under section 6721 or 6722
with respect to any failure if it is shown that the failure is due to reasonable cause and not to willful neglect.
The preambles to the section 6055
and 6056 regulations provided that the IRS would not impose section 6721 and 6722 penalties on reporting entities for the reporting of 2015 health coverage and offers of coverage if those entities could show that they made good faith efforts to comply with the information reporting requirements transitional good faith relief. See T.D. 9660, 79 FR
13220 at 13226 Mar. 10, 2014; T.D.
9661, 79 FR 13231 at 13246 Mar. 10, 2014. The transitional good faith relief covered incorrect or incomplete information, including TINs or dates of birth, reported on information returns or statements. The relief did not apply to a failure to timely file or furnish a return or statement, or when the filer failed to make a good faith effort to comply with the reporting requirements. The preambles to the section 6055 and 6056
regulations also stated that reporting entities failing to meet the reporting requirements of the regulations may have been eligible for penalty relief if the IRS determined the standards for reasonable cause under section 6724
were satisfied. The Treasury Department and the IRS reiterated the transitional good faith relief in Notice 201568, 201541 I.R.B. 547 Oct. 13, 2015, and
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Notice 201587, 201552 I.R.B. 889
Dec. 28, 2015.
Explanation of Provisions 1. Medicaid Coverage of COVID19
Testing and Diagnostic Services Under Section 5000A
Notice 202066, 202040 I.R.B. 785
Sept. 28, 2020, provides that Medicaid coverage that is limited to COVID19
testing and diagnostic services under section 6004a3 of the Families First Coronavirus Response Act, Public Law 116127, 134 Stat. 178 Mar. 18, 2020
is not minimum essential coverage under a government-sponsored program.
As a consequence, an individuals eligibility for such coverage for one or more months does not prevent those months from qualifying as coverage months for purposes of determining eligibility for the premium tax credit under section 36B. Notice 202066
applies to taxable years beginning in or after 2020.
Notice 202066 further indicates that the Treasury Department and the IRS
intend to amend 1.5000A2 to provide guidance respecting Medicaid coverage for COVID19 testing and diagnostic services. Accordingly, these proposed regulations propose to amend 1.5000A2 by adding Medicaid coverage for COVID19 testing and diagnostic services to the enumerated health coverages under 1.5000A
2b2 that do not qualify as minimum essential coverage under a governmentsponsored program.
Notice 202066 provides that taxpayers, including ALEs, may continue to rely on the guidance described in Notice 202066 if no proposed regulations or other guidance are released within 18 months after September 28, 2020, which is the date that Notice 202066 was published in the Internal Revenue Bulletin.
2. Time and Manner for Furnishing Statements Under Sections 6055 and 6056
Through a series of notices, the Treasury Department and the IRS
extended the due dates for furnishing statements to individuals under sections 6055 and 6056 for years 2015 through 2019. See Notice 201604, 20163 I.R.B.
279 Jan. 19, 2016; Notice 201670, 201649 I.R.B. 784 Dec. 5, 2016;
Notice 201806, 20183 I.R.B. 300 Jan.
16, 2018; Notice 201894, 201851
I.R.B. 1042 Dec. 17, 2018; and Notice 201963, 201951 I.R.B. 1390 Dec. 16, 2019. Those notices extended the due date for furnishing Forms 1095B and 1095C by 30 days or the next business day if the 30th day fell on a Saturday,
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Sunday or legal holiday, except that for 2015 information statements, the furnishing due date was extended by 60
days.
In addition to extending the due dates for furnishing statements, Notices 2018
94 and 201963 stated that, as a result of the TCJAs reduction of the shared responsibility payment amount under section 5000Ac to zero for months beginning after December 31, 2018, the Treasury Department and the IRS were studying how the reporting requirements under section 6055 should change, if at all, for future years. Notice 201963 also requested comments on whether an extension of the due date for furnishing statements to individuals pursuant to section 6056 would be necessary for future years, and whether the reporting requirements under section 6055 should change for future years. Only one comment was received.
Notice 202076, 202047 I.R.B. 1058
Nov. 16, 2020 provided an automatic extension of time for reporting entities to furnish 2020 information statements Forms 1095B and 1095C to individuals from January 31, 2021, to March 2, 2021. The notice stated that the Treasury Department and the IRS
determined that a substantial number of employers, insurers, and other providers of minimum essential coverage needed additional time beyond January 31, 2021, to gather and analyze the information necessary to prepare and issue the Forms 1095B and 1095C.
Notice 202076 also provided that because of the grant of the automatic extension to March 2, 2021, for furnishing Forms 1095B and 1095C, 1.60551g4iB1 and 301.6056
1g1iiA allowing the IRS to grant an extension of time of up to 30 days to furnish Forms 1095B and 1095C
would not apply. The notice did not extend the due dates for filing 2020
Forms 1095B, 1094C, or 1095C with the IRS. The provisions of 1.60811
and 1.60818 allowing an automatic extension of time for filing information returns by submission of a Form 8809
before the due date were not affected by Notice 202076.
The Treasury Department and the IRS
received 119 public comments in response to Notice 202076. The commenters included health insurance providers, employers, associations, governmental agencies, payroll processors, and others. Nearly all commenters generally supported an extension of the due date for furnishing Forms 1095B and 1095C to responsible individuals and employees.
The commenters generally indicated that the current January 31 deadline to furnish Forms 1095B and 1095C to
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