IRS Tax Form 720 Filing and PCORI Fee Due July 31st

Established by PPACA, the Patient-Centered Outcomes Research Institute (PCORI) is charged with examining the relative health outcomes, clinical effectiveness, and appropriateness of different medical treatments by evaluating existing studies and conducting its own. The Institute will be funded in part by employer-paid fees.

Your multi-employee AgriPlan, BizPlan, and No Limit Plan Clients are required to file IRS Tax Form 720 and pay a small fee by July 31st each year. This impacts Plan years ending 2012-2019. The total fee for Plan Year 2016 will be $2.26 per Participant.

As in the past, please remind these Clients to watch their mail around mid-June for a pre-filled IRS Tax Form 720 from TASC containing the required PCORI information.

They will need to:

  • Verify their EIN number (this cannot be their Social Security number)
  • Sign the form
  • Include payment and voucher
  • Ensure their completed form with payment is mailed to the IRS and postmarked no later than July 31, 2017
  • Mail to the Department of Treasury, Internal Revenue Services, Cincinnati, OH 45999-0009

If they are already filing IRS Tax Form 720, they are advised to contact their tax preparer (which in most cases is you) to include the PCORI calculation and fee on their form submission.

If  your multi-employee Clients have corrections to the mailed pre-filled Form 720 they can download, create, and print a corrected fillable PDF Form 720 from the IRS website. As always, if they need further assistance your Clients are asked to please contact our Customer Care Center at 800.422.4661.