Contractors must report contract sales to GSA within 30 calendar days following the completion of each reporting quarter. Clause 552.238-74 defines calendar quarters and defines four acceptable points at which contractors may report sales. Additionally, it specifies that GSA will provide the contractor with specific written procedural instructions on remitting the IFF within 60 days…
Schedule contractors remit to GSA a fixed percentage of their quarterly contract sales. Clause 552.238-74, Industrial Funding Fee and Sales Reporting, contains instruction for remitting the IFF.
The IFF is included in the price customer agencies pay the contractor when they purchase items from a MAS. The contractor remits the IFF due to GSA, quarterly.
The IFF requirement was introduced to Multiple Award Schedule contracts in April of 1995. It is currently included in all Federal Supply Schedule contracts as 552.238-74, Industrial Funding Fee and Sales Reporting (July 2003).
No. The IFF is already included in the price of the item because GSA negotiated the fee into the contract price before the award was made.
The IFF is a fee paid by customers to cover GSA’s cost of operating the Federal Supply Schedules program. The fee is a percentage of reported sales under Schedules contracts.
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