Documentation for SBA PPP Loan Forgiveness

Payroll Documentation (include all of the following for each application):

1. List of cash compensation paid to each employee during the covered period. 

Option 1: Third-party payroll service provider reports.

Option 2: Bank account statements payment to employees.

2. Proof of payroll taxes that overlap with the covered period. 

Option 1: Third-party payroll service provider reports.

Option 2: IRS 941 and state quarterly wage reports.

3. Employer contributions to employee health insurance and retirement plans.

Option 1: Payment receipts.

Option 2: Canceled checks or checking account statements showing payment.

Option 3: Account invoices or statements showing the prior payments made.

Business Mortgage Interest (include all of the following, if included in forgiveness calculation):

Includes interest paid on real estate mortgages and equipment loans prior to February 15, 2020. Does not include interest paid on lines of credit, credit cards, or other loans used for working capital, account receivable, inventory, etc.

1. Proof you had the loan prior to February 15, 2020.

Option 1: Lender amortization schedule.

Option 2: Lender account statement for the month covering February 15, 2020.

Option 3: Copy of loan note showing payment start date.

2. Proof of payment.

Option 1: Receipts.

Option 2: Canceled checks or checking account statements showing the payment.

Option 3: Invoices for the covered period, plus one additional period showing the prior payment was made.

Business Lease Payments (include all of the following, if included in forgiveness calculation):

Business rent or lease payments for real estate or equipment in place before February 15, 2020.

1. Proof you had the lease in place prior to February 15, 2020.

Option 1: Lease account statement for the month covering February 15, 2020.

Option 2: Copy of the lease document showing the start date.

2. Proof of payment.

Option 1: Receipts.

Option 2: Canceled checks or checking account statements showing the payment.

Option 3: Invoices for the covered period, plus one additional period showing the prior payment was made.

Business Utility Payments (include all of the following, if included in forgiveness calculation):

1. Invoices covering February 2020 (proof service existed prior to February 15, 2020)

2. Invoices during the covered period.

2. Proof of payment:

Option 1: Receipts.

Option 2: Canceled checks or checking account statements showing the payment.

Option 3: Invoices for the covered period, plus one prior additional invoice showing paid.

Additional Documents Each Borrower Must Maintain (submission is not required)

1. Documentation supporting the certification that annual salaries or hourly wages were not reduced by more than 25 percent during the covered period or the alternative payroll covered period relative to the period between January 1, 2020, and March 31, 2020. This documentation must include payroll records separately listing each employee and show the amounts paid during the period between January 1, 2020, and March 31, 2020, and the amounts paid to each employee during the Covered Period or Alternative Payroll Covered Period.
2. Documentation regarding any employee job offers and refusals, refusals to accept the restoration of reductions in hours, firings for cause, voluntary resignations, written requests by any employee for reductions in work schedule, and any inability to hire similarly qualified employees for unfilled positions on or before December 31, 2020.
3. Documentation supporting the certification, if applicable, that you did not reduce the number of employees or the average paid hours of employees between January 1, 2020, and the end of the covered period (other than any reductions that arose from an inability to rehire individuals who were employees on February 15, 2020, if you were unable to hire similarly qualified employees for unfilled positions on or before December 31, 2020). This documentation must include payroll records that separately list each employee and show the amounts paid to each employee between January 1, 2020, and the end of the covered period.
4. Documentation supporting the certification, if applicable, that you were unable to operate between February 15, 2020, and the end of the covered period at the same level of business activity as before February 15, 2020, due to compliance with requirements established or guidance issued between March 1, 2020, and December 31, 2020, by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or the Occupational Safety and Health Administration, related to the maintenance of standards of sanitation, social distancing, or any other work or customer safety requirement related to COVID-19. This documentation must include copies of the applicable requirements for each borrower location and relevant borrower financial records.
5. All records relating to your PPP loan, including documentation submitted with your PPP loan application, documentation supporting certifications as to the necessity of the loan request and its eligibility for a PPP loan, documentation necessary to support your loan forgiveness application, and documentation demonstrating material compliance with PPP requirements. You must retain all such documentation in its files for six years after the date the loan is forgiven or repaid in full, and permit authorized representatives of SBA, including representatives of its Office of Inspector General, to access such files upon request.

Print the Documentation List for Form 3508-S

Payroll Documentation (include all of the following for each application):

1. List of cash compensation paid to each employee during the covered period. 

Option 1: Third-party payroll service provider reports.

Option 2: Bank account statements payment to employees.

2. Proof of payroll taxes that overlap with the covered period. 

Option 1: Third-party payroll service provider reports.

Option 2: IRS 941 and state quarterly wage reports.

3. Employer contributions to employee health insurance and retirement plans.

Option 1: Payment receipts.

Option 2: Canceled checks or checking account statements showing payment.

Option 3: Account invoices or statements showing the prior payments made.

4. If you qualified to use SBA Form 3508-EZ using criteria #2, you must provide documentation showing the calculation of the average number of full-time equivalent (FTE) employees on January 1, 2020, and at the end of the selected covered period. You may use the application date if you apply prior to the end of the covered period.

Business Mortgage Interest (include all of the following, if included in forgiveness calculation):

Includes interest paid on real estate mortgages and equipment loans prior to February 15, 2020. Does not include interest paid on lines of credit, credit cards, or other loans used for working capital, account receivable, inventory, etc.

1. Proof you had the loan prior to February 15, 2020.

Option 1: Lender amortization schedule.

Option 2: Lender account statement for the month covering February 15, 2020.

Option 3: Copy of loan note showing payment start date.

2. Proof of payment.

Option 1: Receipts.

Option 2: Canceled checks or checking account statements showing the payment.

Option 3: Invoices for the covered period, plus one additional period showing the prior payment was made.

Business Lease Payments (include all of the following, if included in forgiveness calculation):

Business rent or lease payments for real estate or equipment in place before February 15, 2020.

1. Proof you had the lease in place prior to February 15, 2020.

Option 1: Lease account statement for the month covering February 15, 2020.

Option 2: Copy of the lease document showing the start date.

2. Proof of payment.

Option 1: Receipts.

Option 2: Canceled checks or checking account statements showing the payment.

Option 3: Invoices for the covered period, plus one additional period showing the prior payment was made.

Business Utility Payments (include all of the following, if included in forgiveness calculation):

1. Invoices covering February 2020 (proof service existed prior to February 15, 2020)

2. Invoices during the covered period.

2. Proof of payment:

Option 1: Receipts.

Option 2: Canceled checks or checking account statements showing the payment.

Option 3: Invoices for the covered period, plus one prior additional invoice showing paid.

Additional Documents Each Borrower Must Maintain (submission is not required)

1. Documentation supporting the certification that annual salaries or hourly wages were not reduced by more than 25 percent during the Covered Period or the Alternative Payroll Covered Period relative to the period between January 1, 2020, and March 31, 2020. This documentation must include payroll records that separately list each employee and show the amounts paid to each employee during the period between January 1, 2020, and March 31, 2020, and the amounts paid to each employee during the Covered Period or Alternative Payroll Covered Period.
2. Documentation regarding any employee job offers and refusals, refusals to accept the restoration of reductions in hours, firings for cause, voluntary resignations, written requests by any employee for reductions in work schedule, and any inability to hire similarly qualified employees for unfilled positions on or before December 31, 2020.
3. Documentation supporting the certification, if applicable, that the Borrower did not reduce the number of employees or the average paid hours of employees between January 1, 2020, and the end of the Covered Period (other than any reductions that arose from an inability to rehire individuals who were employees on February 15, 2020, if the Borrower was unable to hire similarly qualified employees for unfilled positions on or before December 31, 2020). This documentation must include payroll records that separately list each employee and show the amounts paid to each employee between January 1, 2020, and the end of the Covered Period.
4. Documentation supporting the certification, if applicable, that the Borrower was unable to operate between February 15, 2020, and the end of the Covered Period at the same level of business activity as before February 15, 2020, due to compliance with requirements established or guidance issued between March 1, 2020, and December 31, 2020, by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or the Occupational Safety and Health Administration, related to the maintenance of standards of sanitation, social distancing, or any other work or customer safety requirement related to COVID-19. This documentation must include copies of the applicable requirements for each borrower location and relevant borrower financial records.
5. All records relating to the Borrower’s PPP loan, including documentation submitted with its PPP loan application, documentation supporting the Borrower’s certifications as to the necessity of the loan request and its eligibility for a PPP loan, documentation necessary to support the Borrower’s loan forgiveness application, and documentation demonstrating the Borrower’s material compliance with PPP requirements. You must retain all such documentation in its files for six years after the date the loan is forgiven or repaid in full, and permit authorized representatives of SBA, including representatives of its Office of Inspector General, to access such files upon request.

Print Documentation List for Form 3508-EZ

Payroll Documentation (include all of the following for each application):

1. List of cash compensation paid to each employee during the covered period. 

Option 1: Third-party payroll service provider reports.

Option 2: Bank account statements payment to employees.

2. Proof of payroll taxes that overlap with the covered period. 

Option 1: Third-party payroll service provider reports.

Option 2: IRS 941 and state quarterly wage reports.

3. Employer contributions to employee health insurance and retirement plans.

Option 1: Payment receipts.

Option 2: Canceled checks or checking account statements showing payment.

Option 3: Account invoices or statements showing the prior payments made.

4. Full-time Equivalent (FTE) Documentation: Documents may include but are not limited to payroll tax filings reported, or that will be reported, to the IRS (typically Form 941) and state quarterly wage report.

Business Mortgage Interest (include all of the following, if included in forgiveness calculation):

Includes interest paid on real estate mortgages and equipment loans prior to February 15, 2020. Does not include interest paid on lines of credit, credit cards, or other loans used for working capital, account receivable, inventory, etc.

1. Proof you had the loan prior to February 15, 2020.

Option 1: Lender amortization schedule.

Option 2: Lender account statement for the month covering February 15, 2020.

Option 3: Copy of loan note showing payment start date.

2. Proof of payment.

Option 1: Receipts.

Option 2: Canceled checks or checking account statements showing the payment.

Option 3: Invoices for the covered period, plus one additional period showing the prior payment was made.

Business Lease Payments (include all of the following, if included in forgiveness calculation):

Business rent or lease payments for real estate or equipment in place before February 15, 2020.

1. Proof you had the lease in place prior to February 15, 2020.

Option 1: Lease account statement for the month covering February 15, 2020.

Option 2: Copy of the lease document showing the start date.

2. Proof of payment.

Option 1: Receipts.

Option 2: Canceled checks or checking account statements showing the payment.

Option 3: Invoices for the covered period, plus one additional period showing the prior payment was made.

Business Utility Payments (include all of the following, if included in forgiveness calculation):

1. Invoices covering February 2020 (proof service existed prior to February 15, 2020)

2. Invoices during the covered period.

2. Proof of payment:

Option 1: Receipts.

Option 2: Canceled checks or checking account statements showing the payment.

Option 3: Invoices for the covered period, plus one prior additional invoice showing paid.

Additional Documents Each Borrower Must Maintain (submission is not required)

PPP Schedule A Worksheet or it's equivalent and the following:

1. Documentation supporting the listing of each individual employee in PPP Schedule A Worksheet Table 1, including the “Salary/Hourly Wage Reduction” calculation, if necessary.
2. Documentation supporting the listing of each individual employee in PPP Schedule A Worksheet Table 2; specifically, that each listed employee received during any single pay period in 2019 compensation at an annualized rate of more than $100,000.
3. Documentation regarding any employee job offers and refusals, refusals to accept the restoration of reductions in hours, firings for cause, voluntary resignations, written requests by any employee for reductions in work schedule, and any inability to hire similarly qualified employees for unfilled positions on or before December 31, 2020.
4. Documentation supporting the certification, if applicable, that the Borrower was unable to operate between February 15, 2020, and the end of the Covered Period at the same level of business activity as before February 15, 2020, due to compliance with requirements established or guidance issued between March 1, 2020, and December 31, 2020, by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or the Occupational Safety and Health Administration, related to the maintenance of standards of sanitation, social distancing, or any other work or customer safety requirement related to COVID-19. This documentation must include copies of the applicable requirements for each borrower location and relevant borrower financial records.
5. Documentation supporting the PPP Schedule A Worksheet “FTE Reduction Safe Harbor 2.”

All records relating to the Borrower’s PPP loan, including documentation submitted with its PPP loan application, documentation supporting the Borrower’s certifications as to the necessity of the loan request and its eligibility for a PPP loan, documentation necessary to support the Borrower’s loan forgiveness application, and documentation demonstrating the Borrower’s material compliance with PPP requirements. You must retain all such documentation in its files for six years after the date the loan is forgiven or repaid in full, and permit authorized representatives of SBA, including representatives of its Office of Inspector General, to access such files upon request.

Print Documentation List for Form 3508