- Third party payroll reports
- Internal payroll reports along with evidence of payments
- Internal payroll reports should show gross pay, tax deductions, any applicable health and/or retirement deductions, and net pay
- Evidence of payment includes bank statements, canceled check copies, ACH receipts
- Quarterly tax forms
- 941’s
- Reconciliation must also be included to evidence overlap of borrower’s covered period
*Additionally, for owner compensation, Schedule C filers must provide a copy of their 2019 Schedule C (or estimated 2020 Schedule C for businesses not in operation in 2019)
- Copy of lease showing effectiveness prior to February 15, 2020
- Evidence of rent payments (ACH or canceled checks)
*For rent payments paid to related real estate holding companies, the amount of rent eligible for forgiveness is limited to the interest paid by the related real estate holding company on any debt secured by the building being leased. Furthermore, if the borrower occupies only PART of the building, the qualified amount should be reduced by the portion of the building that the borrower occupies (ex. 50% occupied, 50% of interest is qualified as a forgiveness expense). Additional documentation for related party lessors includes:
- Copy of loan documents and/or amortization schedule showing interest obligation incurred and paid during borrower’s covered period.
- Evidence of payment of debt obligation
The documentation to support the above may include canceled checks, payment receipts, transcripts of accounts, purchase orders, orders, invoices, or other documents verifying payments on non-payroll costs.
The documentation to support the above may include canceled checks, payment receipts, transcripts of accounts, purchase orders, orders, invoices, or other documents verifying payments on non-payroll costs.
The documentation to support the above may include canceled checks, payment receipts, transcripts of accounts, purchase orders, orders, invoices, or other documents verifying payments on non-payroll costs.
The documentation to support the above may include canceled checks, payment receipts, transcripts of accounts, purchase orders, orders, invoices, or other documents verifying payments on non-payroll costs.