Required Documents

Required documents for independent contractors and self-employed Individuals can be found here.

eSignature and Documents Exchange

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Include a business ownership schedule that specifies for each owner:

• First Name and Last Name
• Ownership %
• Social Security Number
• Address
• Citizenship
• Ethnicity (Hispanic Latino or Not Hispanic Latino)

If you were in business before December 31, 2019:

Provide a detailed schedule of your monthly payroll costs for 2019 or other payroll records that support your request, specifically identifying those employees with compensation in excess of $100,000. For seasonal businesses, the Applicant may elect to instead use average monthly payroll for the time period between March 31, 2019 and June 30, 2019.

If you were not in business before December 31, 2019:

Provide a detailed schedule of your monthly payroll costs between January 1, 2020 and February 29, 2020, or other payroll records that support your request, specifically identifying those employees with compensation in excess of $100,000.

To support these schedules, provide source documents that must include:

• 2019 Payroll Schedule by employee
  • If Seasonal Business, which payroll period choice is being made: Full year for 2019 OR Partial year (3/1/2019-6/30/2019).
• 2019 IRS Form 940, 941 or 944 tax filings
• Most recent tax return filed

If a sole proprietor or independent contractor, provide documentation to verify:

• 2019 IRS 1040 Schedule C
   If not available, validate:
• Net earnings from self-employment
  *capped at $100,000 on an annualized basis for each employee
• 1099 Payroll (IRS Form 1096)
• IRS Form 1099 MISC, if applicable

Funds received in the form of an EIDL (Economic Injury Disaster Loan) since January 31, 2020

• Copy of note
• Amount to refinance used as payroll

Forecasted monthly expenses for the next 2 months for the following:

• Number of Employees
• Payroll costs (as noted above) including benefits
• Payments of interest on any mortgage obligation incurred before February 15, 2020 (which shall not include any prepayment of or payment of principal on a mortgage obligation)
• Payments of interest on any other debt incurred before February 15, 2020 (which shall not include any prepayment of or payment of principal)
• Rent, under lease agreements in force before February 15, 2020; and
• Utilities for which service began before February 15, 2020.

For Informational purposes, the Paycheck Protection Program evaluates Payroll in the following manner:

Payroll includes:

Payroll costs consist of compensation to employees (whose principal place of residence is the United States) in the form of salary, wages, commissions, or similar compensation; cash tips or the equivalent (based on employer records of past tips or, in the absence of such records, a reasonable, good-faith employer estimate of such tips); payment for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payment for the provision of employee benefits consisting of group health care coverage, including insurance premiums, and retirement; payment of state and local taxes assessed on compensation of employees; and for an independent contractor or sole proprietor, wage, commissions, income, or net earnings from self-employment or similar compensation.

Payroll DOES NOT include:

Any compensation of an employee whose principal place of residence is outside of the United States;

The compensation of an individual employee in excess of an annual salary of $100,000, prorated as necessary;

Federal employment taxes imposed or withheld between February 15, 2020 and June 30, 2020, including the employee’s and employer’s share of FICA (Federal Insurance Contributions Act) and Railroad Retirement Act taxes, and income taxes required to be withheld from employees; and

Qualified sick and family leave wages for which a credit is allowed under sections 7001 and 7003 of the Families First Coronavirus Response Act (Public Law 116–127).