retrospective refund

  • A refund of part of the advance or deposit premium upon adjustment to the final premium based upon a retrospective rating.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).