Zombie PCORI Fee III – The Form Rises
As discussed in our prior blog posts, the PCORI fee, thought dead in 2019, was reinstated and the amount updated. Knowing the new fee amount of $2.54 was step one. However, plan sponsors who wanted to move beyond step one could not because the IRS had not revised the Form 720.
Fortunately, late last week, the IRS did update the Form 720. You can find the new form on the IRS website here. Other than reflecting the new amount, the form is nearly identical to prior years. The PCORI fee reporting is found in Part II, Line 133.
If you should have any questions about the PCORI Fee or any other benefits issue, please contact any of the Graydon benefits team.