You will calculate and pay your fee on your federal tax return for the year in which you don't have coverage. (policygenius.com)
If you qualify for a premium tax credit, you'll have two options for how to receive it: on your annual tax return for that year of coverage, or in advance. (policygenius.com)
You must do so on your tax return for the year in which you initially converted, meaning your ability to reverse your conversion is time - limited. (mydollarplan.com)