Jul 18, 2023
Reminder – 2023 Penalties for 1094/1095C Late Filing
Just a friendly reminder there are penalties for filing 1094/1095 statements late with the IRS, for filing incorrect forms, or for not filing at all.
The penalties have increased over the years since 2011 and will increase again in 2024.
The deadline for filing with the IRS this year was February 28, 2023 if filing paper copies of the 1094C (transmittal) and all copies of the 1095C (employee statements). The deadline was March 31, 2023 if filing electronically.
Penalties for Each Information Return or Payee Statement
| Year Due | Up to 30 Days Late | 31 Days Late Through August 1 | After August 1 or Not Filed | Intentional Disregard |
|---|---|---|---|---|
| 2024 | $60 | $120 | $310 | $630 |
| 2023 | $50 | $110 | $290 | $580 |
| 2022 | $50 | $110 | $280 | $570 |
Maximum penalties are different for small business and large businesses.
There is no maximum penalty for ‘intentional disregard’.
Interest is charged on penalties noted above.
More detail can be reviewed here on the IRS web site.
