Contractors that execute cost reimbursable contracts or other contracts that invoke the Allowable Cost and Payment Clause (FAR 52-216-7) are required to submit its Incurred Cost Proposal submission within six months after the the completion of the accounting year. This proposal establishes final direct cost and indirect rates for the fiscal year. For calendar year contractors the due date is June 30. The proposal submission must be considered adequate for audit. Use of the DCAA Incurred Cost Electronically(ICE) Model is the expected format. This model is a very substantial submission.
As a reminder the June 30 date for calendar year contractors is soon approaching. If you have questions about this submission or its requirements please contact me.