1. PPP Loan Forgiveness Help Center
  2. Forgiveness Application Questions

What documentation do I need to provide to corroborate that my entity sustained at least a 25% reduction in gross receipts?

The following are the primary sets of documentation Applicants can provide to
substantiate their certification of a 25 percent gross receipts reduction (only one set is
required):

  • Quarterly financial statements for the entity. If the financial statements are not
    audited, the Applicant must sign and date the first page of the financial statement
    and initial all other pages, attesting to their accuracy. If the financial statements
    do not specifically identify the line item(s) that constitute gross receipts, the
    Applicant must annotate which line item(s) constitute gross receipts.
  • Quarterly or monthly bank statements for the entity showing deposits from the
    relevant quarters. The Applicant must annotate, if it is not clear, which deposits
    listed on the bank statement constitute gross receipts (e.g., payments for purchases
    of goods and services) and which do not (e.g., capital infusions).
  • Annual IRS income tax filings of the entity (required if using an annual reference
    period). If the entity has not yet filed a tax return for 2020, the Applicant must fill
    out the return forms, compute the relevant gross receipts value (see Question 5),
    and sign and date the return, attesting that the values that enter into the gross
    receipts computation are the same values that will be filed on the entity’s tax
    return.