You know that the IRS requires taxpayers to cross their t’s and dot their i’s. Other federal departments and agencies do so as well. Small business owners for the most part can’t afford to ask their accountant or other professional adviser for help at every turn. The good news is that there are some sample forms that you can use to satisfy various law requirements, such as notice to employees or to the IRS. Here are some examples of when you need forms and the sample forms that are available.
Available sample forms and when to use them
Educational assistance program
A business can set up a program to cover employees’ education costs (whether or not job-related) or student loan repayments up to a set dollar limit each year. The limit is $5,250 for 2025 and 2026, but will be adjusted for inflation starting in 2027.
Employees aren’t taxed on this benefit and it’s not subject to payroll taxes, but employers can deduct their costs. The plan must be nondiscriminatory, meaning that it can’t favor owners and managers over rank-and-file employees.
Sample form:
The Sample Educational Assistance Program is a 6-page document that the employer signs and dates to put the program into effect.
Individual coverage HRAs (ICHRAs)
Employers without a group health plan can use a type of reimbursement plan—Individual Coverage HRA—to enable employees to obtain their own coverage. The plan can set any reimbursement amount; it’s not something fixed by law. ICHRAs can be used by businesses of any size, although “applicable large employers” (50 or more full-time and full-time equivalent employees) subject to the employer mandate must meet special conditions for ICHRAs to avoid penalties.
To enroll in ICHRAs, employees must attest that they have individual health coverage. And to receive reimbursement, they must substantiate their medical care expenses.
Sample forms:
The Individual Coverage HRA Model Notice from the Departments of the Treasury, Labor, and Health and Human Services can be used by employers to provide notice of coverage for employees. The Individual Coverage HRA Model Attestations can be used for the annual coverage substantiation requirement and the ongoing substantiation requirement.
Section 83(b) election
Employees who received restricted stock are not taxed on the benefit until it vests and the substantial risk for forfeiture ends. But they can elect to report the fair market value of the stock (usually very little) now, which allows all future appreciation to be subject to capital gains when the stock is ultimately sold. This is explained in IRS Publication 525 (see “restricted property”), although the sample form—which post-dates the publication—is not included here.
Sample form:
The election is made on Form 15620, Section 83(b) Election, which is a form released in April 2025. Before this form, employees had to create their own election statements.
COBRA election
Employers with a group health plan and 20 or more employees on more than 50% of the typical business days in the previous calendar year must offer continuation health coverage to employees who leave the company for any reason (other than gross misconduct). Similar coverage is available for spouses and dependents under certain conditions.
Employers must notify eligible individuals about COBRA. And, to be covered by COBRA, an individual must affirmatively elect it within an election period (at least 60 days).
Sample forms:
The Model COBRA Continuation Coverage Election Notice (click on For Employers and Advisers to find the link to a Word file for the notice) can be used by employers to provide employees with notice of their right to maintain health coverage and what they must do to make this happen.
The Model also contains the COBRA Continuation Coverage Election Form that is used to consent to coverage. Under federal law, there is 60 days after the date of this notice to decide whether to elect COBRA continuation coverage under the Plan.
Final thought
Maybe none of these sample forms are relevant to your business now. Nonetheless, it may be helpful to create a file on election forms that you can delve into as needed in the future.
Additional information concerning compliance for small business can be found in this list of blogs.
