PAYCHECK PROTECTION PROGRAM LOANS

Sole proprietors, independent contractors, self-employed individuals, other 1099 applicants:

• Most recent tax return for 2019 or 2018, or CPA-prepared financial statements
• Business start date
• Copy of photo ID (front and back)
• Monthly payroll report (Note: many payroll providers already have a report setting available for PPP loans, so please check with your provider)
• Voided Check
• SBA Form 2483
• 2019 IRS Form 1099-MISC for independent contractors or Form 1040-C for sole proprietorships
• (If applicable) Medical Insurance payment verification, documentation confirming retirement benefits and any Economic Injury Disaster Loan (EIDL) statement

Other businesses:

• 2019 Payroll Cost and YTD Payroll Cost through February 15, 2020
• Number of employees as of December 31, 2019
• Number of employees as of February 15, 2020
• Industry or business classification (NAICS Code which can be found on tax return)
• IRS Form 940 Employers Annual Federal Unemployment Tax Return (FUTA)
• IRS Form 941 Employer’s Quarterly Federal Tax Return
• Payroll Summary Report 2019 with corresponding bank statements
• W2 Summary
• List of employees earning more than $100,000 in compensation (salary, wages, commission and tips)
• 1099 Summary
• Breakdown of payroll benefits (vacation, allowance for dismissal, group healthcare benefits, retirement benefits, etc.)