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Documents for SBA Paycheck Protection Program Application Process

Posted by Zinner & Co. Tax Team on Apr 8, 2020 10:33:00 AM
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The American Institute of CPAs has recommended a defined set of documents for lenders regarding the Small Business Administration’s Paycheck Protection Program (PPP) application process.

According to the Maryland Association of Certified Public Accountants, Inc., the recommendations were informed by discussions with an AICPA-led small business funding coalition and other stakeholders in the PPP process with ties to 44,000 CPA firms, 2.5 million small businesses, and 30 million employees.

#InThisTogetherOhioThe AICPA made broad recommendations for lender documents, as well as provided direction on a few key calculations.

Please note, these recommendations are not meant to be comprehensive and this is not intended to be used as a loan calculator. Their recommendations are to help minimize confusion and complexity for applicants and to help drive consistency with lenders.

Employer Documents

  • Federal tax reports
  • Payroll reports for calendar year 2019
  • Group health care benefits
  • Retirement plan benefits

Those business who use payroll processing companies should be able to obtain a master payroll report, which is the information needed in the first two bullet points.  Additionally, if the payroll processing company also supports your health care and retirement benefit reporting, the last two bullet points may also be included in the master payroll report.


Sole proprietors, independent contractors, and self-employed individuals

  • All 1099s received in 2019 or the 2019 individual tax return proving schedule C income.
  • Proof of healthcare and retirement benefit costs.

Please note, Independent contractors not included in employer payroll calculation. The AICPA expects additional Treasury/SBA guidance soon regarding form 1099.

For more information, including calculation recommendations and other clarifications, click here.

Topics: Coronavirus, COVID-19, Small Business, SBA, Paycheck Protection Program


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