Paycheck Protection Program (PPP) Required Documents

 

The following list of required documents is provided for your reference, and is subject to change based upon guidance provided by the Small Business Administration (SBA).

Required Documents for a Second Draw PPP Application (for customers who received a First Draw PPP loan through Tri Counties Bank):

For all repeat Tri Counties Bank PPP customers:

  • Repeat borrowers who had a change in ownership structure, ownership percentage, or a change in authorized signor will need to provide updated documentation

  • Application Form 2483-SD (no paper applications, online application only)

  • Addendum to Form 2483-SD as applicable for affiliations and common ownership (no paper addendum, online application only)

For loan requests over $150,000:

  • Filed 2019 and Draft 2020 annual business tax returns OR quarterly Profit & Loss statement of comparable 2019 to 2020 fiscal quarters as supporting evidence for the 25% reduction in Gross Receipts

  • Repeat borrowers who are requesting a larger loan amount than their initial PPP loan, based on a different payroll period, or a loan amount based on 2020 calendar year, will need to provide updated payroll documentation

IRS Tax Forms by Entity Type
Sole Proprietor with no Employees Schedule C or Schedule F for farm/ag
Sole Proprietor with Employees Schedule C or Schedule F for farm/ag AND quarterly 941’s or annual
943 for farm/ag
C Corporations Page 1 of 1120 / quarterly 941’s or annual 943’s
S Corporations Page 1 of 1120S / quarterly 941’s or annual 943’s
Partnerships Page 1 of 1065 / quarterly 941’s or annual 943’s
Limited Liability Companies May use 1065 or 1120S


Required Documents for First Draw PPP Applications (for customers who did not receive a First Draw PPP loan through Tri Counties Bank):

  • Completed SBA Form 2483 PPP Application Form (no paper applications, online application only)

    • Identify ALL 20% or more owners in Applicant Ownership Section

  • Addendum A identifying affiliates of application if Question 3 marked “Yes” (no paper applications, online application only)

    • Ownership breakdown per affiliate

    • Number of employees per affiliate

  • IRS Payroll Tax Reports (entity dependent)

    • Sole Props with NO employees -2019 filed or 2020 draft Schedule C

    • Sole Props with Employees - 2019 filed or 2020 draft Schedule C AND quarterly 941’s/annual 943

    • Independent Contractors – 2019 filed or 2020 form 1099-MISC

    • Corporations -2019 or 2020 Form 941 quarterly reports or annual Form 943 IRS payroll tax forms

    • Partnerships – 2019 or 2020 Form 941 quarterly reports AND draft K-1's

    • PEO payroll reports, applicable (do not require 941's)

  • Annual FYE 2019 or 2020 Payroll Report (based on period selected)

    • Summary of gross pay by employee

    • Identify employees earning over $100,000

    • Exclude compensation in excess of $100,000 per employee for calculation (no personal private information)

  • Payroll Statement that covers the 2/15/2020 payroll period

    • No personal private information, use truncated SSN or use of employee number

  • Other Eligible Payroll Employer Paid benefits (if included in calculation)

    • Annual Healthcare, dental, vision statements evidence employer share

    • Retirement employer paid contribution statements

  • Legal Entity Documentation:

    • Fictitious Business Name Statement, if applicable

    • Articles of Formation (depending on legal entity)

    • By-laws for Corporations or Operating Agreement for LLC entities

    • Partnership Agreement

    • Other (as applicable)