Requirements include:
- Copies of canceled checks.
- Bank statements with ACH information.
- Utility bills.
- Mortgage statements.
- Lease agreements.
- List of all employees on your payroll during the covered period.
- Evidence that your employees were kept on payroll or rehired upon receiving the loan.
In this regard, do I have to upload documents for 3508S?
While you will not upload and submit this information with your forgiveness request, you must maintain all of the documentation related to your PPP loan and forgiveness request. Review Step One for documentation you must keep (but will not submit with your application).
Hereof, do I need to submit documents with Form 3508S? The Borrower is not required to submit the Form 3508 or any related documentation with this forgiveness application. However, SBA may request information and documents to review those calculations as part of its loan review and audit processes.
Moreover, does Form 3508S require documentation?
SBA Form 3508S requires fewer calculations and less documentation for eligible borrowers. SBA Form 3508S does not require borrowers to show the calculations used to determine their loan forgiveness amount.
How do I make sure my PPP loan is forgiven?
Use the following tips on how to make sure your PPP loan is forgiven to get started:
- Use it for eligible expenses.
- Keep your employee headcount up*
- Don’t reduce an employee’s wages by more than 25%*
- Document everything.
- Talk with your lender.
- Apply for loan forgiveness.
What documents are needed for PPP self employed?
- Completed PPP Application Form – 2483. …
- Average monthly payroll costs (only applies to businesses.
- 2019 Proof of Payroll Costs (or Self Income) …
- Proof of Ownership. …
- Unexpired, Government-issued Driver’s License or.
- Email Addresses for All Owners with 20% or More of the.
- Electronic Funds Transfer Information.
What documents do I need to submit with Form 3508s?
Verifying your payroll expenses:
- Bank account statements or a report from your payroll provider documenting payments to employees.
- Tax forms (or equivalent payroll provider reports) including: …
- Payment receipts, cancelled checks, or bank account statements showing employer contributions to group employee benefits plans.