The IRS has updated the excise form 720 that self-funded companies need to use to pay their PCORI fees. The fees are due by 7/31/14. The update allows those companies with an 11/1, 12/1 or 1/1 effective date to pay the $2 per member fee based on their second PCORI fee payment. All others who are paying the fee for the first time would still pay $1 per member. The previous version of the form only showed the option of multiplying by $1.
To review the Scott Benefit Services legislative brief on the PCORI fees please follow
this link. For a copy of the updated form and instructions please see below.
Link to a copy of Form 720:
http://www.irs.gov/pub/irs-pdf/f720.pdf
Link to instructions to Form 720:
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