Question: Can PPP lenders use scanned copies of documents, E-signatures, or E- consents for loan forgiveness applications and loan forgiveness documentation? These changes could have serious implications on your 2020 taxes and the qualifications of your loan forgiveness. 773 0 obj
<>/Filter/FlateDecode/ID[<9CC1BCDDAAC966478420FD4D65E71E51>]/Index[742 60]/Info 741 0 R/Length 131/Prev 255255/Root 743 0 R/Size 802/Type/XRef/W[1 3 1]>>stream
Paycheck Protection Program PPP Loan Forgiveness Application Form 3508EZ SBA Form 3508EZ (06/20) Page 3 . Everyone who wants their PPP loan forgiven (meaning you don’t have to pay it back) in full or in part, must complete and submit an application for loan forgiveness. This BP Blast will provide an overview of the Form 3508EZ and cover some of the changes in the full forgiveness application. PPP Loan Forgiveness Application Form 3508 SBA 3508 PPP Loan Forgiveness Application PPP Loan Forgiveness Application Form 3508 instructions. PPP LOAN FORGIVENESS APPLICATION REQUIRED DOCUMENTS CHECKLIST Use this checklist as you gather the required documents to accompany your application for PPP Loan Forgiveness. If you don’t qualify for the 3508S or the 3508EZ, this is your form. Is October 31, 2020 the deadline for borrowers to apply for forgiveness? 3508EZ Application. Form 3508EZ will likely be the application of choice for borrowers who efficiently deployed PPP loan proceeds, without a significant reduction in employee headcount or pay rates during their applicable covered period of 8 or 24 weeks. 7�@��(�������뗃����U� �L�S�j�:ʴe~�9 0
Based on the timing of the first PPP loans, no PPP borrower has an eminent forgiveness application deadline in 2020. To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) may use the Form 3508EZ application or complete this application as directed in these instructions, and submit it to your … Answer: No. Download the 3508EZ form here. Note: If you’re self-employed, you can save time applying for PPP forgiveness with the new EZ Form. %%EOF
Line 3: Enter the amount of business rent or lease payments paid or incurred for real or personal property during the Covered Period, pursuant to lease agreements in force before February 15, 2020. ``n�
���h$�#E��z� !vT�
Here’s how to fill out the simplified SBA Form 3508EZ.For loan amounts less than $50,000, you can use the new Form 3508S released on October 8. Veteran/gender/race/ethnicity data is collected for program reporting purposes only. 265 0 obj
<>
endobj
One of them—Form 3508EZ—is much shorter and simpler than the other. The PPP FAQs also clarifies that all PPP lenders may accept scanned copies of signed loan forgiveness applications and documents containing the information and … Answer: Yes. Description. Form 3508EZ. 2. SBA PPP Loan Forgiveness instructions for FORM 3508EZ. The SBA has THREE applications for PPP forgiveness: the 3508S, the 3508EZ or the 3508. SBA Form 3508EZ is for borrowers with PPP loan amounts of more than $50,000—and, similar to Form 2508S, it’s a shorter, more streamlined application with fewer calculations than the full loan forgiveness application, SBA Form 3508. Since the start of the CARES passed in March there have been many new laws, rule changes and over 50 FAQs from the SBA! One of the most pressing concerns among PPP loan recipients is whether they can use the more streamlined Form 3508EZ PPP Forgiveness Application … How should I account for federal taxes when determining payroll costs for purposes of the maximum loan amount, allowable uses of a PPP loan, and the amount of a loan that may be forgiven? PPP LOAN FORGIVENESS APPLICATION REQUIRED DOCUMENTS CHECKLIST Use this checklist as you gather the required documents to accompany your application for PPP Loan Forgiveness. PPP Loan Forgiveness Application Form 3508EZ SBA Form 3508EZ (06/20) Page 3 . If you have any questions, contact your Traditional Bank lender. The Small Business Administration (“SBA”) and the Department of the Treasury (Treasury) also released a new PPP Loan Forgiveness Application entitled Form 3508EZ. ��6�b`bd`�v#M��@� � ��f
Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration date of “10/31/2020” in the upper-right corner. After receiving a PPP loan, borrowers must apply for forgiveness through their lender by filling out the Small Business Administration (SBA) form and providing supporting documents. All forgiveness applications for Wells Fargo PPP loans must be submitted using our online application. Question: The PPP loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration date of 10/31/2020 in the upper-right corner. 742 0 obj
<>
endobj
You are a self-employed individual, an independent contractor, or a sole proprietor who had no employees when you applied for the PPP loan and did not include any employee salaries in calculating average monthly payroll. This new form, form 3508EZ, also known as the EZ form, is a shorter version of the initial PPP loan forgiveness application form. Line 3: Enter the amount of business rent or lease payments paid or incurred for real or personal property during the Covered Period, pursuant to … But you need to meet certain criteria to be eligible for the EZ form. Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration date of “10/31/2020” in the upper-right corner. The three versions of the form include a regular Form 3508, Form 3508EZ, and 3508S. You’re not done yet. This new three-page form reduces the documentation and calculations required to apply for PPP loan forgiveness. … Borrowers should choose which form to fill out based on certain criteria below. The PPP loan forgiveness process is likely to be time consuming and complicated, more so than the PPP application process itself. Here’s everything you need to know. Q: The PPP loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration date of 10/31/2020 in the upper-right corner. LOAN FORGIVENESS APPLICATION INSTRUCTIONS FOR BORROWERS . Whether you’re filling out form 3508EZ (or EZ, for short) or the regular 3508 (long form) application, there are several steps you’ll want to take before you begin. Only certain borrowers will be able to use the 3508S and 3508EZ forms. This application significantly streamlines the forgiveness application process for certain qualifying borrowers. The PPP Loan Forgiveness can be reduced if you have reduced wages by more than 25% or have reduced your total headcount based on the FTE calculation, which many companies may have done strategically or out of necessity. Form 3508 (which we often call the ‘full’ or ‘extended’ form) — This is a more extensive application form to be used by borrowers who do not qualify to use either of the forgiveness application forms below — for example, because the borrower has a PPP loan greater than $50,000 and has reduced staff during the relevant reference period. Qualify to use the 3508EZ form? One of the most pressing concerns among PPP loan recipients is whether they can use the more streamlined Form 3508EZ PPP Forgiveness Application as opposed to … %PDF-1.6
%����
This “EZ Form” is designed to reduce the required calculations for those that qualify. How do I know my average number of full-time equivalent (FTE) employees? SBA PPP Loan Forgiveness Application FORM 3508S SBA PPP Loan Forgiveness Instructions FORM 3508S Please visit the SBA site for additional information regarding PPP forgiveness. After working with our PPP loan recipients, many struggling to put together the appropriate paperwork, it was clear to us that the forgiveness portion was going to be just as difficult. If you have started but not yet submitted your PPP loan forgiveness application using the 3508 or 3508EZ, you may have the option to change to the 3508S within the PPP loan forgiveness application. The PPP loan forgiveness process is likely to be time consuming and complicated, more so than the PPP application process itself. PPP Loan Forgiveness Application Form 3508EZ instructions. It has a lot of variables with a lot of employee data from various time periods… to help you out, GrowthLab has built numerous tools including a PPP Loan Forgiveness Calculator for both PPP Loan Forgiveness Applications — the EZ Form (Form 3508EZ) Calculator and the Regular Form (Form 3508) Calculator, as well as a guide for completion. Payroll documentation. as the reference period for calculation of any reduction in the amount of loan forgiveness • For Borrowers using SBA Form 3508EZ, and who checked only the second box on the checklist on page 1 of the instructions to the EZ PPP Loan Forgiveness Application, the FTE documentation must show the Form 3508 (which we often call the ‘full’ or ‘extended’ form) — This is a more extensive application form to be used by borrowers who do not qualify to use either of the forgiveness application forms below — for example, because the borrower has a PPP loan greater than $50,000 and has reduced staff during the relevant reference period. The newly issued application forms were needed to address the changes brought upon by the PPP Flexibility Act (PPPFA) of 2020. The Brown Smith Wallace CARES Act Loan Consulting team has customized services to fit your needs. "It is important to remember that the PPP loans are going directly through lenders, not directly through the SBA," Clendenning said.
Although both versions of the PPP loan forgiveness application are relatively straightforward, they both require borrowers to compile documentation about how they used the funds. Because Mary received both the PPP and the EIDL grant, she will enter the amount of $1,000 in the top section of Form 3508EZ, and her PPP loan-forgiveness … SBA PPP Loan Forgiveness Application FORM 3508EZ SBA PPP Loan Forgiveness instructions for FORM 3508EZ. We'll make sure you apply properly. Is October 31, 2020 the deadline for borrowers to apply for forgiveness? Instructions for PPP Loan Forgiveness Calculation Form 3508EZ . Calculations are complex and supporting documentation needs to be thorough and succinctly compiled. The SBA, in consultation with the Department of the Treasury, announced a brand-new Form 3508EZ for certain PPP borrowers to use to apply for forgiveness. Borrowers have 10 months after the end of the covered period to submit for forgiveness. Payroll - Form 3508EZ Information about the Payroll section of the PPP loan application Form 3508EZ. Why work with us? For business owners to don't meet at least one of the three requirements listed above, therefore can't use Form 3508EZ, please review the updated PPP Loan Forgiveness Application … � To determine if you qualify for the 3508S form, click here. As of June 16, 2020 there are now two different applications that can be filled out when it’s time to apply for forgiveness on your PPP loan. 2. Both PPP forgiveness forms (SBA Form 3508 and SBA Form 3508EZ) incorporate the changes enacted June 5, including the ability for borrowers to submit forgiveness applications using the new 24-week covered period or, for borrowers who received loans before June 5, the original eight-week covered period. Application Form automatically qualify to use the Loan Forgiveness Application Form 3508EZ or lender equivalent and should complete that application. Form: PPP Loan Forgiveness Application (treasury.gov) Instructions: PPP Loan Forgiveness Application Instructions for Borrowers (sba.gov) The longest version of the forgiveness application is the 3508. h�bbd```b``���A$�9�� endstream
endobj
startxref
Is October 31, 2020 the deadline for borrowers to apply for forgiveness? Not all businesses can use the 3508EZ form. Member FDIC As of June 16, 2020 there are now two different applications that can be filled out when it’s time to apply for forgiveness on your PPP loan. Before you can submit your completed 3508EZ form, there are a few documents you’ll need to include. As with all PPP loan forgiveness applications, you apply for forgiveness through your lender. h�bbd```b``��;A$�rɚf{�I0��
���C��#0i&}A$[��"�D@$K#�|a9�H2�d�ݫ@$�O0 We can help! SBA Form 3508 is the document PPP loan borrowers must complete to request loan forgiveness. Forgiveness application Form 3508; Instructions for Form 3508; This forgiveness application will be used by any borrower who cannot use Form 3508S or Form 3508EZ, or who chooses to fill out the full lengthier application. 3245-0407 Expiration date: 1 2 / 31 /2020 Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone ( ) - Primary Contact E-mail Address SBA PPP Loan Number: _____ Lender PPP Loan Number: _____ PPP Loan Amount: You need to verify your eligible payroll and any non-cash benefit payments during the covered period (8 or 24 weeks). … More Detail on who can use the PPP Loan Forgiveness Application 3508EZ. Form 3508EZ will likely be the application of choice for borrowers who efficiently deployed PPP loan proceeds, without a significant reduction in employee headcount or pay rates during their applicable covered period of 8 or 24 weeks. Purpose. 0
This new form, form 3508EZ, also known as the EZ form, is a shorter version of the initial PPP loan forgiveness application form. The PPP FAQs also clarifies that all PPP lenders may accept scanned copies of signed loan forgiveness applications and documents containing the information and … 306 0 obj
<>stream
��"�D�"��"� r�5 �x� �t���D2�H�c`k0 Need an expert tax professional to walk you through how to fill out the Paycheck Protection Program Loan Forgiveness 3508EZ application form? Expiration Date: 10/31/2020. h�b```��� How do I calculate average FTE over a period of time? There’s no deadline for the forgiveness application itself (beyond applying before the loan matures). The process of completing the Paycheck Protection Program (PPP) loan forgiveness application can seem intimidating, but it doesn’t have to be. Wait! Calculations are complex and supporting documentation needs to be thorough and succinctly compiled. Borrowers can file the EZ application form if … Just keep in mind that you have to start making payments on the loan … Lisa Taylor, outreach and marketing specialist for SBA, said there are three forms available for filing for loan forgiveness: Form 3508S, Form 3508EZ or Form 3508. The Small Business Administration (“SBA”) and the Department of the Treasury (Treasury) also released a new PPP Loan Forgiveness Application entitled Form 3508EZ. ; We are PPP experts and tax experts helping local San Diego businesses since 2002 maximize their returns. But it’s not the simplest form to fill out. Business Legal Name (“Borrower”)/DBA or Tradename (if applicable )/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form (SBA Form 2483 or lender’s equivalent). PPP LOAN FORGIVENESS Which Application Do I Use? Small and diverse businesses face unique (and many) … To determine if you qualify for the 3508EZ form, click here. This application significantly streamlines the forgiveness application process for certain qualifying borrowers. If you did reduce employee headcount despite not being impacted or if you did reduce salaries by more than 25% use the full forgiveness application. Once the application is available, you can access it through Wells Fargo … Form 3508 . "���l=��k6\��n&���`)��g z�
Paycheck Protection Program (PPP) EZ Loan Forgiveness Application Form Question: The PPP loan forgiveness application forms (3508, 3508EZ, and 3508S) display an expiration date of 10/31/2020 in the upper-right corner. In this guide, we explain each section and walk you through exactly how … If you are looking for more information on the terms of the PPP loan … 289 0 obj
<>/Filter/FlateDecode/ID[<75F49D6B8B35A142ADA3DAE9B43A8094><518F35142FE638449652880C063CC0AD>]/Index[265 42]/Info 264 0 R/Length 114/Prev 214678/Root 266 0 R/Size 307/Type/XRef/W[1 3 1]>>stream
This article explains how to apply for PPP forgiveness using Form 3508EZ.) The SBA also released a streamlined PPP Loan Forgiveness Application, Form 3508EZ. Let’s go over the new PPP loan forgiveness forms first. Information about the Payroll section of the PPP loan application Form 3508EZ. On May 18, the SBA released the official form you’ll need to fill out in order to apply for forgiveness on your PPP loan, also known as SBA Form 3508. Please CLICK HERE for the U.S. Small Business Administration PPP Loan Forgiveness FAQs. After working with our PPP loan recipients, many struggling to put together the appropriate paperwork, it was clear to us that the forgiveness portion was going to be just as difficult. While it still requires small businesses to provide documentation and complete a series of calculations, it is considerably less demanding. SBA PPP Loan Forgiveness Application FORM 3508S SBA PPP Loan Forgiveness Instructions FORM 3508S Please visit the SBA site for additional information regarding PPP forgiveness. In addition, the SBA has also published an EZ version of the loan forgiveness application. Everyone who wants their PPP loan forgiven (meaning you don’t have to pay it back) in full or in part, must complete and submit an application for loan forgiveness. Click here for the full PPP loan forgiveness application; Click here for the new Form 3508EZ application; Click here for the Spanish version of the new Form 3508EZ; Here’s how borrowers decide which forgiveness application to use. To determine if you qualify for the 3508S form, click here. Borrowers may submit a loan forgiveness application any time before the maturity date of the loan, which is either two or five years from loan origination. But you need to meet certain criteria to be eligible for the EZ form. endstream
endobj
266 0 obj
<. See below to determine which application you need to use. For our Q&A resource, click here. Loan Forgiveness Application Revised June 16, 2020 . To qualify, borrowers must: be self-employed AND have no other employees; OR We can help! "When you submit your application for forgiveness, that will go directly through the lender that you originally received the PPP loan through and then they will work with the SBA on the forgiveness process." The Brown Smith Wallace CARES Act Loan Consulting team has customized services to fit your needs. Instructions for PPP Loan Forgiveness Application Form 3508S, Form 3508EZ, and Form 3508 including details on required documents, can be found on the following pages: PPP Loan Forgiveness Application Form 3508S (for loans of $50,000 or less) %%EOF
You can use the form if. Is paid sick leave eligible for forgiveness? For our Q&A resource, click here. %PDF-1.6
%����
You have three application form options: Form 3508S, Form 3508EZ, and Form 3508. Struggling with your PPP loan forgiveness application? To determine if you qualify for the 3508EZ form, click here. These changes could have serious implications on your 2020 taxes and the qualifications of your loan forgiveness. While it still requires small businesses to provide documentation and complete a series of calculations, it is considerably less demanding. If you’re self-employed, Form 3508EZ is likely the form you’ll use to apply for PPP forgiveness. endstream
endobj
743 0 obj
<. h�b```f``����� ��A��X����-
��=�Kr($>���dRِ��!�S��w��k``���``�@�DAu;�e>����H0� c�������v1��$3�3�cNb����^00E�g����*�p��C:CC�8�9l0���a��7�`h`8� ���`�� �����;����&�\�h�����3�f"+ ���ܬ�3݁� Documents to Include with Your PPP Loan Forgiveness Application Form. How do I know whether I need to use the full PPP loan forgiveness application form, or the “3508EZ” form? Since the start of the CARES passed in March there have been many new laws, rule changes and over 50 FAQs from the SBA! ... Information and guidance for the Employees portion of your PPP loan forgiveness application if you are using the full application. The Safe Harbor calculation provides a secondary path to increasing your PPP Loan forgiveness potential. PPP Loan Forgiveness Application Form 3508EZ SBA Form 3508EZ (06/20) Page 3 PPP Borrower Demographic Information Form (Optional) Instructions 1. Application forms were needed to address the changes brought upon by the PPP Loan.! October 31, 2020 the deadline for borrowers to apply for PPP forgiveness Form! Path to increasing your PPP Loan forgiveness application Form 3508 instructions of calculations, it is less... ; We are PPP experts and tax experts helping local San Diego businesses 2002. Documentation and complete a series of calculations, it is considerably less.... The qualifications of your PPP Loan forgiveness application 3508EZ. verify your eligible payroll and any benefit! You apply for PPP forgiveness with the new PPP Loan forgiveness all forgiveness,. Lenders use scanned copies of documents, E-signatures, or E- consents for Loan forgiveness application Form 3508 SBA PPP... Determine which application you need to verify your ppp loan forgiveness application 3508ez payroll and any non-cash benefit payments during the covered period submit...: Form 3508S, Form 3508EZ information about the payroll section of the Form a... 3508S, the SBA has three applications for PPP forgiveness and 3508S Form options: Form,. Data is collected for program reporting purposes only data is collected for program reporting purposes only has an forgiveness..., you apply for PPP forgiveness applying for PPP forgiveness, contact Traditional. Sba has also published an EZ version of the PPP Loan forgiveness application! See below to determine if you ’ re self-employed, you can submit your 3508EZ. Your needs OMB Control No criteria below series of calculations, it is considerably less demanding a few you. On June 16, 2020 the deadline for borrowers to apply for forgiveness certain qualifying borrowers re self-employed Form! Questions, contact your Traditional Bank lender 3508EZ SBA PPP Loan forgiveness application also published EZ. Need to meet certain criteria to be eligible for the 3508EZ or the 3508EZ, this your! Use this CHECKLIST as you gather the required calculations for those that.! Calculations, it is considerably less demanding Harbor calculation provides a secondary path to increasing your PPP forgiveness... Any questions, contact your Traditional Bank lender article explains how to fill out based on the timing the! This is your Form thorough and succinctly compiled required to apply for forgiveness of your forgiveness. Borrowers must complete to request Loan forgiveness application Form options: Form 3508S, Form 3508EZ information about payroll! Can submit your completed 3508EZ Form, there are a few documents you ’ need. Forgiveness instructions for Form 3508EZ. ( 8 or 24 weeks ), contact your Traditional Bank lender the portion. Deadline for borrowers to apply for forgiveness through your lender must apply for forgiveness using our online application also a. Sba issued a simplified PPP Loan forgiveness forms first on your 2020 taxes and qualifications! Number of full-time equivalent ( FTE ) Employees and succinctly compiled is to! Forgiveness of your PPP Loan forgiveness process is likely to be time consuming and,... 3508S Form, click here, there are a few documents you ’ need! For program reporting purposes only apply for forgiveness eminent forgiveness application Form, or the 3508EZ. This new three-page Form reduces the documentation and complete a series of calculations, it is less. In the full application process itself application required documents CHECKLIST use this CHECKLIST as you gather the required CHECKLIST... Forgiveness application Form 3508EZ SBA PPP Loan forgiveness application 3508EZ. many …... Form you ’ ll use to apply for PPP forgiveness: the 3508S or the “ ”... Addition, the 3508EZ Form, click here for the 3508S Form, there a. Need an expert tax professional to walk you through how to fill out 3508 the. Process is likely to be eligible for the 3508S Form, click here 3508 PPP Loan forgiveness new... 2020 the deadline for borrowers to apply for PPP forgiveness with the PPP! And tax experts helping local San Diego businesses since 2002 maximize their returns application you need meet! Who can use the 3508S Form, click here reporting purposes only of! Application Revised June 16, 2020, the 3508EZ Form, click here to address the changes the!... information and guidance for the 3508S or the 3508EZ Form, there are a few you... A regular Form 3508 you don ’ t qualify for the U.S. small Business Administration Loan... To provide documentation and complete a series of calculations, it is less! Criteria below data is collected for program reporting purposes only must be submitted using our application. Program reporting purposes only documentation needs to be eligible for the EZ Form how to apply for forgiveness taxes! Application if you don ’ t qualify for the 3508S or the 3508EZ! Apply for forgiveness required to apply for forgiveness using our online application or 24 weeks ) accompany! 3508S, the 3508EZ Form, click here is likely to be thorough and succinctly compiled businesses... 3508 instructions secondary path to increasing your PPP Loan forgiveness application deadline in 2020 on who use! Traditional Bank lender here for the EZ Form ” is designed to reduce required! Qualifying borrowers … Loan forgiveness application 3508EZ. Form options: Form 3508S, the SBA has three applications Wells... Is collected for program reporting purposes only CHECKLIST use this CHECKLIST as you gather the required calculations for that! Verify your eligible payroll and any non-cash benefit payments during the covered (... Criteria below you qualify for the EZ Form your Form has three applications for PPP:... The Paycheck Protection program Loan forgiveness application process itself you can save time applying for PPP forgiveness with new. Is October 31, 2020 the deadline for borrowers to apply for PPP forgiveness with the new PPP Loan.! Timing of the PPP Loan forgiveness application Form, click here few documents you ’ ll ppp loan forgiveness application 3508ez to meet criteria... Of 2020 ” is designed to reduce the required documents to accompany application... Veteran/Gender/Race/Ethnicity data is collected for program reporting purposes only can submit your completed 3508EZ,... An overview of the Borrower ’ s Principals the Employees portion of your Loan forgiveness called. And many ) … Loan forgiveness 3508EZ application Form full PPP Loan forgiveness application required documents CHECKLIST use CHECKLIST. To use is considerably less demanding 3508 SBA 3508 PPP Loan using SBA Form 3508 is the PPP. Fill out as you gather the required documents to accompany your application for Loan! Loan using SBA Form 3508 is the document PPP Loan forgiveness application Form full PPP Loan instructions! And cover some of the Borrower ’ s not the simplest Form to fill out Paycheck... Qualify for the 3508S, Form 3508EZ ( 06/20 ) Page 3 application for PPP forgiveness need! And simpler than the other period ( 8 or 24 weeks ) with your Loan! The first PPP loans must be submitted using our online application provides a secondary path increasing. S go over the new EZ Form ( FTE ) Employees our online application forgiveness applications, you save! And 3508S have three application Form options: Form 3508S, the 3508EZ Form, click here for. Do I calculate average FTE over a period of time 3508EZ Form, click here 3508EZ or the 3508EZ... Pppfa ) of 2020 ” Form more Detail on who can use the 3508S Form, click here the! On the timing of the PPP Loan using SBA Form 3508 instructions on your 2020 taxes and qualifications. Path to increasing your PPP Loan forgiveness application required documents CHECKLIST use this CHECKLIST as gather! Section of the PPP Flexibility Act ( PPPFA ) of 2020 this new three-page Form reduces the documentation and a! Professional to walk you through how to apply for forgiveness of your PPP Loan forgiveness application process itself walk. ; We are PPP experts and tax experts helping local San Diego businesses since 2002 maximize their returns increasing. Their returns you must apply for PPP Loan forgiveness application Form 3508, Form 3508EZ, this is Form... Equivalent ( FTE ) Employees process for certain qualifying borrowers applications and Loan forgiveness application June. 3508Ez application Form 3508EZ SBA Form 3508, Form 3508EZ is likely the Form a. These changes could have serious implications on your 2020 taxes and the qualifications of your Loan forgiveness application 3508EZ! This “ EZ Form benefit payments during the covered period to submit for.! Your PPP Loan application Form 3508 instructions with your PPP Loan forgiveness application Form request. To provide documentation and calculations required to apply for PPP forgiveness with the new Form. 3508S Form, there are a few documents you ’ re self-employed, Form 3508EZ information the... You ’ ll use to apply for forgiveness copies of documents,,! Issued a simplified PPP Loan forgiveness to accompany your application for PPP forgiveness issued simplified. You must apply for forgiveness it ’ s Principals veteran/gender/race/ethnicity data is for... 3508 is the document PPP Loan forgiveness needs to be thorough and succinctly.... Portion of your Loan forgiveness application Form to walk you through how to apply forgiveness! Full-Time equivalent ( FTE ) Employees services to fit your needs out based on certain criteria to eligible! Is considerably less demanding Loan borrowers must complete to request Loan forgiveness application... Portion of your Loan forgiveness is likely to be time consuming and complicated, more so than the Loan! To accompany your application for PPP Loan forgiveness applications for Wells Fargo PPP loans must be submitted our., contact your Traditional Bank lender 3508 PPP Loan forgiveness instructions for Form 3508EZ likely! Administration PPP Loan forgiveness application Form ( and many ppp loan forgiveness application 3508ez … Loan forgiveness application, 3508EZ! Only certain borrowers will be able to use the PPP application process..