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Employers subject to the Affordable Care Act (ACA) must begin collecting certain employee data to meet Section 6056 reporting requirements. Specifically, the ACA requires that certain employers (Applicable Large Employer Members) file Forms 1094-C and 1095-C. A draft version of these Forms was released on October 15, 2014. These forms are a vital part of the ACA because this is how regulators will know whether employers are complying with the ACA. These forms will also be used to substantiate whether employees maintained minimal essential coverage as required by the individual mandate. Covered employers must complete a Form 1095-C for each employee who was considered a full-time employee for any month of the calendar year. Form 1095-C is due to the employee by January 31. Form 1095-C is due to the IRS by February 28 if filing by paper or March 31 if filing electronically. A $260-520 penalty will be assessed for each return that is not timely or correctly filed.