The Industrial Funding Fee is a fee paid quarterly on vendor sales. This fee is used to support the contract administration and is .75% of your quarterly GSA contract sales
Question Category: Industrial Funding Fee FAQs
Please make your check payable to: General Services Administration Industrial Funding Fee (IFF/SIFT) for Multiple Award Schedule Contracts P.O. Box 979017 St. Louis, MO 63197-9017
The IFF clause requires that sales identified as made under Federal Supply Schedules to state and local governments under Cooperative Purchasing authority and under the Disaster Recovery Purchasing program shall be counted as reportable sales for IFF purposes.
The IFF Clause, 552.238-74, specifies that the contractor must maintain a consistent accounting method of sales reporting based on the contractor’s established commercial accounting practice. This established accounting practice should be the determining factor on when the contractor reports sales: (1) receipt of order; (2) shipment or delivery, as applicable; (3) issuance of an invoice; …
Yes. BPAs are agreements under the Federal Supply Schedule contract. Therefore, all sales on the BPA are contract sales and should be reported as such.
All team members must abide by the terms and conditions of their respective Federal Supply Schedule contracts. All team members must report their own contract sales and submit the resulting IFF obligation.
The ACO is the point of contact for questions regarding a specific contract. If the contractor does not know which ACO is assigned the contract, the Contract Management Division below appropriate to the contractor’s contact for contract administration is located can provide the information.
Yes. The contractor must report and remit the IFF for all sales that occurred while that SIN was under contract.
The IFF clause specifies that contractors must report sales separately for each National Stock Number (NSN), Special Item Number (SIN), or sub-item. A contractor may consolidate fees for multiple SINs and/or contracts into one check provided that the check is annotated with the following identifying information: (1) contract number(s)), (2) reporting period(s)), and (3) report …
The IFF is a simple application of the rate to the sale. If a contractor makes a sale of contract items under a Federal Supply Schedule contract, the IFF applies. However, if the contractor doesn’t record compensation for additional expenses as a sale under the GSA contract, then the IFF should not be applied.