IRS Business Continuity Requirements for Collection Contracts Reviewed

Strategic BCP today announced that president and founder Frank Perlmutter has reviewed the Business Continuity Planning (BCP) requirements and standards the Internal Revenue Service (IRS) will use in part to evaluate bidders responding to their newly released request for quote, comparing those to what IRS has previously published.

The primary difference between the current RFQ and previous versions is the need for bidders now to submit additional information to IRS on their BCP programs. With the proposal, bidders will be required to submit a “summary of the relevant content of the Contractor Security Policy & Procedures document and the current Contractor Business Resumption Plan.” Once awarded, successful firms will be required to submit plans in their entirety.

While this adds a step to what BCP documents bidders must submit to IRS, it does not change guidance given by Mr. Perlmutter during the teleseminar on these topics the firm held in July. Awarded vendors will have to document, upon award, that they have taken the following steps to develop and maintain robust BCP standards:

1. Develop a contingency planning policy statement
2. Conduct a business impact analysis (BIA)
3. Identify preventive controls
4. Develop recovery strategies
5. Develop an IT contingency plan
6. Execute plan testing, training, and exercises
7. Create a plan for maintenance

For the benefit of bidders, Strategic BCP is now offering complementary reviews of summary plans bidders will submit with proposals. Mr. Perlmutter commented, “With a lengthy timeline for developing and maintaining a sound plan, it’s crucial that interested parties re-evaluate all that they are doing to meet IRS standards. We’re here to help.”

Strategic BCP is a Business Continuity Planning firm that helps organizations improve resiliency against more than 70 potential threats to operations. The firm helps businesses prioritize the recovery of business functions and supporting technology to enable cost-effective recovery in the event of any disruption. For more information, contact Frank Perlmutter at 866-594-SBCP (7227) or visit the firm?s website at www.strategicbcp.com.