Employer Reporting Improvement Act

S 3204, the Employer Reporting Improvement Act, simplifies employer reporting to the IRS by allowing employers to use an employee's full name and date of birth instead of a Social Security number (TIN) when the TIN cannot be obtained. It also establishes that employees are deemed to consent to receive health coverage statements electronically if they previously agreed in writing, unless they revoke consent. The bill gives employers 90 days to respond to proposed penalties under the employer shared responsibility provision (Section 4980H) before penalties are finalized. Additionally, it extends the statute of limitations for assessing employer penalties from 3 to 6 years. These changes apply to reports due after December 31, 2024.