IRS has issued a revised Form 720 and
instructions for filing the PCOR fees by July 31, 2014. Filers will enter
covered-lives counts and applicable rates ($1 for plan years ending before Oct.
1, 2013; $2 for plan years ending on or after Oct. 1, 2013) in Part II of Form
720 (line 133) to calculate the amount owed.
Instructions include a table for use by
filers with plans or policies subject to both the $1 and $2 applicable rates.
Though Form 720 is generally used for quarterly excise taxes, PCOR filers remit
that fee annually - by July 31 - and complete only line 133 (unless also
submitting excise taxes).
Under the Affordable Care Act, the PCOR fee
applies to each plan or policy year that ends after Sept. 30, 2012, and before
Oct. 1, 2019.
Link to a copy of Form 720:
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