Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on reddit

Question Category: Industrial Funding Fee FAQs

How do contractors know when to record a sale for 72A/IFF reporting purposes?

For IFF purposes, GSA recognizes a sale recorded in a manner consistent with the contractor’s accounting system. This method minimizes the administrative burden on contractors. Clause 552.238-74 specifies the following acceptable points at which contractors may report sales: (1) receipt of order; (2) shipment or delivery, as applicable; (3) issuance of an invoice; or (4) …

How do contractors know when to record a sale for 72A/IFF reporting purposes? Read More »

Why should agencies use the MAS's and pay the IFF instead of contracting directly?

The benefits a customer received are well worth the fee, particularly when compared to the cost of customer staff time required to award a new procurement: Competition: All competition requirements have been met. Hassle-free Volume Purchase Prices: GSA has already negotiated discounts for its customers. Expedited Delivery: Many items can be delivered overnight or within …

Why should agencies use the MAS's and pay the IFF instead of contracting directly? Read More »

How should contractors identify payments as IFF if they are paying by check?

Contractors should follow the instructions in the IFF Clause, 552.238-74, and must provide the following information with all payments: contract number(s)), report amount(s)), and report period(s)). If the payment is for more than one contract and/or for multiple reporting periods, the specific amount to be allocated to each reporting period and each contract number must …

How should contractors identify payments as IFF if they are paying by check? Read More »

How is the IFF calculated?

To calculate how much IFF to remit, multiply total Federal Supply Schedule sales reported by the IFF rate in effect. The contractor should direct any questions regarding IFF calculations to the respective Administrative Contracting Officer (ACO).

How much is the IFF?

The current IFF rate is located at http://72a.gsa.gov/. The rate is set by the Commissioner, Federal Supply Service, reviewed periodically, and may be changed yearly.

What are standard calendar quarters?

The IFF Clause, 552.238-74, defines the respective calendar quarters as January 1-March 31, April 1-June 30, July 1-September 30, and October 1-December 31. The clause requires that contractors remit the appropriate IFF to GSA within 30 days of the end of the applicable reporting quarter.

What exactly are 72A reports?

The 72a Report is abbreviated reference to “GSA Form 72A, Contractor Report of Sales.” This is the form by which contractors electronically report sales via the Internet on a standard quarterly schedule. Clause 552.238-74 contains instructions for reporting sales.

Scroll to Top