The IRS recently issued Notice 2024-83, which specifies the Patient-Centered Outcomes Research Institute (PCORI) fee rate for plan years ending between October 1, 2024, and September 30, 2025. For these plan years, the PCORI fee is set at $3.47 per covered life.
Read our PCORI Fee blog, which includes PCORI fee rates since 2013.Failing to pay the PCORI fee on time can result in penalties. The penalty is calculated at 5% of the excise tax due for each month (or part of a month) that the return is late, up to a maximum of 25% of the unpaid tax.
To learn more about the penalties and the significance of timely payment, read our blog on penalties of not filing pcori fee.Registration and Login
If you are a new user, register with your basic details like Name, Email ID, and Password. If you are an existing user, you can directly log in.
Add Basic Details
Enter your personal or representative details as required.
Add Business Details
Provide essential business information, including the name, address, and EIN (Employer Identification Number).
Select the Right Tax year and the quarter
Select the correct Tax Year under the Tax Year field. The quarter should be selected as Apr-June.
Select the Right Category and Provide Inputs
In the left side panel, select Form 720 and select Part 2. Under that, select PCORI. We have a few Policy types as below, please select the relevant one.
Review the Calculated Amount on the Dashboard
Specify the average number of lives covered. The tax amount will be calculated and populated automatically in our dashboard.
Complete Your Payment
Make your payment securely through the portal with the available payment options,
Electronic Funds Withdrawal (Direct Debit)
EFTPS (Electronic Federal Tax Payment System)
Receive the Acknowledgment
Once the filing is submitted, you will receive an acknowledgment as proof of your submission.
Your PCORI Online filing with the Simple720 portal is completed successfully in just a few minutes.