The Government Fiscal Year runs from October 1st thru September 30 and, at the end of each quarter, GSA Schedule holders are required to report their total GSA sales for the last quarter through the 72A Sales Reporting System. For this quarter, you will report the GSA Schedule sales that you received between January 1, 2013 and March 31, 2013.
In addition to filing your 72A report you will also pay the Industrial Funding Fee (IFF) that is due. GSA is a self-funded organization funded through their IFF which is .75%. This fee should be included in your GSA pricing and passed on to your customer. Once you complete your 72A report you will be prompted as to how much IFF is due. You can pay the IFF either electronically in the ePay system or manually by mailing a check. For instructions on how to make an IFF payment online, click here.
All 72A reports must be filed and IFF payment received no later than 04/30/2013. Be aware that even if you have zero GSA Schedule sales you are still required to log into the 72A System and report zero sales.
Failing do your GSA sales reporting or pay IFF on time can have consequences. Your 72A reports are monitored by your Administrative Contracting Officer (ACO) and if you fail to report on time, this will be noted in your next Contractor Assistance Visit and will cause a negative rating on your report card. In extreme cases of non-compliance, GSA may issue a claim against your company for the IFF that is due.
Perhaps you are not sure what makes up a GSA Schedule sale? When a sale is made to an authorized GSA Schedule ordering activity (i.e., govt. entity). To help with your GSA sales reporting, visit our articles on What Constitutes a GSA Schedule Sale for the list of indicators and get some tips on how to Keep An Accurate GSA Sales Tracking System.
If you have any questions on GSA Sales Reporting or IFF payments feel free to contact any of our GSA schedule consultants at Coley.
For over 20 years, Coley GCS has helped companies worldwide successfully win and manage more than $3 Billion in Government Contracts. We specialize in GSA Schedules but support any contracting vehicle. We build long term relationships with clients –many who have put their trust in our advice for over two decades.