Your company's payroll, employee benefits and HR functions need to work hand-in-hand to meet the reporting requirements of the Affordable Care Act, the IRS warns. That's because the information necessary for filing Forms 1094 and 1095 is generally housed in different departments. With the filing deadline looming in early 2016, employers must ensure they can compile the data in time.
Except for in very small companies, payroll, human resources and employee benefits are generally handled by separate offices. However, compliance with the Affordable Care Act (ACA) and the need to file certain forms may make it necessary for the three functions to cross over, to some degree.
"Regardless of which department is ultimately tasked with the responsibility for completing the forms, it is clear that they will have to work together because each department will probably control the system housing some of the data that must be reported," states the IRS in its publication SSA/IRS Reporter.