The Department of the Treasury announced June 2 that it will delay until 2015 implementation of insurer and employer reporting requirements and employer responsibility payments under the Affordable Care Act (ACA). The purpose of this transition relief is to allow employers more time to adapt systems to comply with the reporting requirements. Reporting requirements under IRC Section 6055, which apply to insurers and self-insuring employers, and IRC Section 6056, which apply to employers with at least 50 full time employees are affected by the delay. Employer shared responsibility payments under IRC Section 4980H also will not apply until 2015. Formal guidance describing this transition relief is expected to be released within the next week.