Compliance News Week Ending December 6, 2024

In this Article

Adjusted PCORI Fee

Form 5500 for 2024

Adjusted PCORI Fee

In IRS Notice 2024-49, the IRS provided the adjusted PCORI fee of $3.47 per covered life for plan years ending on or after October 1, 2024 and before October 1, 2025. Therefore, for employers required to report and pay the PCORI fee via Form 720 by July 31, 2025, the fees are as follows:

$3.22 per covered life for plan years ending in January – September 2024; and

$3.47 per covered life for plan years ending in October – December 2024.

Form 5500 for 2024

An updated Form 5500 is now available to use for plan years that began in 2024. It is identical to the 2023 form other than a change in the year.

More detailed information regarding the requirements of the Form 5500 is available on the Department of Labor website.

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