News

IRS Revises Form 720 for PCOR Fee Reporting

March 2017

As previously discussed, health care reform established a new Patient-Centered Outcomes Research Institute (“PCORI”) to study patient-centered outcomes, funded by a Patient-Centered Outcomes Research (“PCOR”) fee.  This fee must be reported on Form 720 (Quarterly Federal Excise Tax Return) annually.

The IRS recently published a revised version of Form 720 to include the fee owed to fund PCORI. The PCOR fee is calculated by determining the average number of covered lives under the plan.

The annual PCOR fee deadline is July 31 of the year following the calendar year in which the applicable policy or plan year ended. For example, for plan years ending on December 31, 2012, the filing deadline is July 31, 2013.

For more information on permitted methods to determine the average number of lives covered and how to calculate the associated fees, please sign in to your Peel & Holland University account and view the document: IRS Revises Form 720 and Instructions for Patient Centered Outcomes Research Fee Reporting listed under Updates.

If you do not have a Peel & Holland University account, please visit Peel & Holland University to request a login.

Save as PDF

Go back