Transcription of PPP Loan Forgiveness - Documentation
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PPP Loan Forgiveness - Documentation
As of October 2, 2020 PPP Loan Forgiveness -DocumentationAs of Oct. 2, 2020 Table of Contents2 TopicPagesPayrollDocumentation3 Cash Compensation EmployeeHealth Insurance Employee Retirement Plans State & Local TaxesNon-payroll Documentation4 Mortgage InterestPayments Rent or Lease Payments Utility PaymentsFTE Documentation5 -6 DocumentsBorrowers Must Maintain7 -8As of Oct. 2, 2020 All Borrowers -Payroll Expense Documentation3 Expense TypeAcceptableDocumentsCash Compensation(StandardApp Schedule A Lines 1, 4, and 9&Standard App Loan Forgiveness Calculation Form Line 1)(EZ App-Line1)Please note: Acceptable documents for each employee are capped at annualized rate of $100,000 ($15,385 for 8-week covered period, $46,154 for 24-week covered period).
Oct 02, 2020 · Maintain Documentation: Supporting the certification that annual salaries/wages were not reduced by more than 25% Including 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 during the Covered or Alternative Covered period
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