By Julia Coon,
It’s that time of the year again, and your General Services Administration (GSA) Schedule Industrial Funding Fee (IFF) payment and sales reporting are due by July 30th. In accordance with Clause 552.238-74, all Schedule contractors are required to report sales within 30 calendar days following the completion of the reporting period and remit the IFF within 30 calendar days following the end of each reporting quarter. Even if you have zero sales for the April – June quarter, you are still required to report zero sales.
Be Aware: There is New Sales Reporting Portal
This will be the first time most contractors are completing the reports and payments in the new sales reporting portal. The FAS Sales Reporting Portal (SRP) is GSA’s new tool that supports the collection of data required by the Multiple Award Schedules (MAS) program. Contractors reporting on a monthly basis for the Transactional Data Reporting (TDR) pilot and contractors reporting on a quarterly basis will now both be using the FAS SRP.
All first-time users must register for the multi-factor authentication process. Even if you were previously accessing the FAS SRP using a digital certificate or reporting sales in the legacy 72 System, you still need to register for the multi-factor authentication process before you are able to log into the FAS SRP. Multi-factor authentication registration steps can be found on the FAS SRP website linked above.
Only authorized negotiators, the Contract Administrator, and the IFF Point of Contact will be able to access the contract in the FAS SRP. It’s important to use the same email address that is listed on your contract when registering to ensure access to the contract. If your points of contact listed today need to be updated, you will need to submit a formal modification in eMod making the updates for your Contracting Officer’s approval.
To ensure a timely submission of sales reports and IFF payments, DO NOT wait until the last minute. Register for the FAS SRP now so you know you can access your contract and will be able to complete the reporting requirements on time. If you need assistance or have questions regarding the reporting requirements, please contact Centre’s GSA team.
About the Author:
Julia Coon is GSA and VA Contract Consultant at Centre Law & Consulting. Julia works with the GSA/VA team in preparing new schedule proposals and post-award contract administration. She has experience in producing schedule renewal packages, various modification packages, small business subcontracting plans, and updates to GSA price lists.