Menu CONNECT SHARE ALERTS Paycheck Protection Program Update Forms 3509 and 3510 November 4, 2020 Mitzi Keating SEARCH IN FOCUS On October 26, 2020, the Small Business Administration (SBA) published a 30-day notice in the Federal Register related to seeking approval by the Office of Management and Budget (OMB) related to two new information filing forms, form 3509 and form 3510, documenting the necessity certification issued under FAQ #31 related to the Paycheck Protection Program (PPP). While copies of these forms have been issued, they have not yet been published on the SBA’s website, and therefore are not officially released documents at this time. The forms require various forms of financial information to be disclosed by for-profit entities (form 3509) and non-profit entities (form 3510) for those whose PPP loans (including affiliates) totaled $2,000,000 or more. As indicated in the draft forms, the purpose is intended to facilitate the collection of supplemental information that will be used by SBA loan reviewers to evaluate the good-faith certification that was made on the PPP borrower application that economic uncertainty made the loan request necessary. The form will be issued by the lender servicing the loan and the completed form is due within ten business days of receipt from the lender. Some of the financial information requested under these draft documents include certifications and disclosure of quarterly revenues, distributions, compensation levels to owners and employees, and more. It appears as though these forms are to address the necessity question for these larger loans, which was, and remains to be a legal determination. As the forms have not yet been officially published and are still open to public comment, we suggest that you continue to monitor all new developments from the SBA and Treasury related to this program. We will continue to keep you informed as new information is released and the forms are finalized. Team Mark Fagan Shawn Howard Wilfredo Fernandez Privacy Policy Terms of Use Sign up for our Communications © Citrin Cooperman 2021

Menu CONNECT SHARE NEWS Michael Sabatini Awarded 2019 Business & Finance Award by Long Island Business News September 25, 2019 SEARCH IN FOCUS Congratulations to Long Island Managing Partner Michael Sabatini honored by the Long Island Business News with a 2019 Business & Finance Award. The Long Island Business News Business & Finance Awards recognizes financial experts whose exemplary performance as stewards of Long Island's corporations, government, and nonprofit organizations have made significant impact on our region. Related Offices Long Island Team Michael Sabatini Privacy Policy Terms of Use Sign up for our Communications © Citrin Cooperman 2021