Par. 5. Section 301.6011-8 is added to read as follows:
(a) Returns reporting minimum essential coverage must be filed on magnetic media. A person required to file an information return reporting minimum essential coverage under § 1.6055-1 of this chapter must file the return on magnetic media if the person is required to file to least 250 returns during the calendar year. Returns filed on magnetic media must be made in accordance with applicable publications, forms, instructions, or published guidance, see §§ 601.601(d) and 601.602 of this chapter.
(b) Magnetic media. For purposes of this section, the term magnetic media has the same meaning as in § 301.6011-2(a)(1).
(c) Determination of 250 returns. For purposes of this section, a person is required to file at least 250 returns if, during the calendar year, the person is required to file at least 250 returns of any type, including information returns (for example, Forms W-2, Forms 1099), income tax returns, employment tax returns, and excise tax returns.
(d) Waiver. The Commissioner may waive the requirements of this section in cases of hardship in accordance with § 301.6011-2(c)(2)(i).
(e) Failure to file. If a person fails to file an information return on magnetic media when required by this section, the person is deemed to have failed to file the return. See section 6721 for penalties for failure to file returns and see section 6724 and the regulations under section 6721 for failure to file on magnetic media.
(f) Effective/applicability date. This section applies to returns on Form 1095-B or another form the IRS designates required to be filed after December 31, 2015. Reporting entities will not be subject to penalties under section 6721 with respect to the reporting requirements for 2014 (for information returns that would have been required to be filed in 2015 with respect to 2014).