; and (4) a process to allow employers using the system to provide timely updates to the Federal Marketplace Data Services Hub regarding any cancellation of coverage or significant change in coverage for participating employees that would change the information reported under paragraph (1). (c) Employer notification of employee enrollment in Exchange plans Subparagraph (J) of section 1311(d)(4) of the Patient Protection and Affordable Care Act ( 42 U.S.C. 18031(d)(4)(J) ) is amended by striking to each employer and all that follows and inserting “to each employer— (i) the name of each employee of the employer who enrolls in a qualified health plan for a plan year, or whose dependents enroll in such a plan, at the time of such enrollment; or (ii) the name of each employee of the employer described in subparagraph (I)(ii) who ceases coverage under a qualified health plan during a plan year (and the effective date of such cessation); and . (d) Exemption from reporting requirement under Internal Revenue Code of 1986 Section 6056 of the Internal Revenue Code of 1986 is amended by redesignating subsection (f) as subsection (g) and by inserting after subsection (e) the following new subsection: (f) Exemption If, through the system created under section 3(a) of the Commonsense Reporting Act of 2017 , an employer provides prospective reporting for any calendar year that meets the requirements of section 3(b)(1) of such Act— (1) such employer shall be treated as satisfying the return requirements of subsections (a) and (b) for such year; and (2) such employer shall be treated as satisfying the requirements of subsection (c) for such year if the employer— (A) furnishes the statement described in such section to those employees of the employer whose names have been provided to the employer by an Exchange under section 1311(d)(4)(J)(i) of the Patient Protection and Affordable Care Act regarding enrollment of the employee or a dependent in a qualified health plan (as defined in section 1301 of such Act) through the Exchange