Dates to remember for HSA, FSA, and ACA

Robbie MossBlog, Compliance / Regulations

Our partners over at Infinisource put together an awesome checklist that provides insurance agents/brokers, employers and benefits and payroll professionals key upcoming dates and deadlines related to health benefits. This reminder list does not constitute all of the deadlines applicable to employers and some deadlines may be different based on variations in plan year or plan design.  See below:

Cafeteria Plans/
Flexible Benefits
End of Grace Period. Typically, FSAs have grace periods of 2 months and 15 days. Health FSAs cannot have both a carryover (up to $500) and a grace period. March 15, 2014
(for calendar-year plan years)
Payroll Deadline for electronic Forms W-2 (Copy A), 1099 and 8027. If you file these forms electronically with the IRS, this is the deadline. April 1, 2014
HSAs Correction of Excess Contributions to HSAs.> Employers may correct any contribution errors by the federal tax-filing deadline to avoid a 35% excise tax. April 15, 2014
Payroll Form 941 and FUTA Deposit Filing Deadline. Due date for filing Form 941 and FUTA deposits for the prior quarter. April 30, 2014
Cafeteria Plans/
Flexible Benefits
Form 5500 Filing Deadline. Generally, for health plans with 100 or more covered participants, the 5500 report must be filed no later than the last day of the 7th month after the end of the plan year. This is July 31 for plans with a calendar-year plan year. July 31, 2014
Payroll Form 941 Filing Deadline. Generally, employers must file their quarterly payroll tax returns by the end of the month after the end of each quarter. July 31, 2014
ACA/Health Care Reform Form 720 Deadline. The second year of Participant-Centered Outcome Research (PCOR) fees is due with this quarterly excise tax form. July 31, 2014