Example:

03 20XX08.

If inventory is received Headquarters staff will contact the notice owners for disposition. If necessary HQ staff will communicate notice disposition to Ogden management for disposition in OLNR.

In January 2011, the IRS started to use the information submitted on Form 8947 to calculate the annual fee for branded prescription drug (BPD) sales (the fee). The fee was imposed by section 9008 of Public Law 111-148 (Patient Protection and Affordable Care Act), as amended by Public Law 111-152 (Health Care and Education Reconciliation Act of 2010) (the Act).

Branded prescription drug sales are sales of branded prescription drugs made to specified government programs (or sales due to coverage under the programs). A branded prescription drug is any prescription drug for which an application was submitted under section 505(b) of the Federal Food, Drug, and Cosmetic Act (21 USC 355(b)), or any biological product the license for which was submitted under section 351(a) of the Public Health Service Act (42 USC 262(a)).

Section 9008(b)(4) sets an applicable fee amount for each year, beginning in 2011, that will be allocated among covered entities with aggregate branded prescription drug sales of over $5 million to specified government programs or pursuant to coverage under such programs.