Employee Benefits

 

Self-Funded Plan Sponsors Must File Form 720

The Affordable Care Act (ACA) requires health insurance issuers and self-funded plans to pay Patient-Centered Outcomes Research Institute fees (PCORI fees). The fees are reported and paid annually using IRS Form 720 (Quarterly Federal Excise Tax Return).

The PCORI fees apply for plan years ending on or after October 1, 2012, but do not apply for plan years ending on or after October 1, 2019. Issuers and plan sponsors are required to pay the PCORI fees annually on IRS Form 720 by July 31 of each year. It will generally cover plan years that end during the preceding calendar year. Thus, the deadline for filing Form 720 is July 31, 2017, for plan years ending in 2016.

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