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  • Form 3508

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Use additional blank sheet for continuation of items identifying each item by number. APPLICATION FOR REMISSION OR CANCELLATION OF INDEBTEDNESS For use of this form, see AR 600-4; the proponent agency.

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The 3508S and 3508EZ applications are simplified compared to the regular 3508 form. The chief differences are that the easier forms don't require you to fill out a Schedule A form or a Schedule A Worksheet. However, you have to meet certain criteria to use one of the easier forms.

You'll be asked for some basic questions about your business then asked to provide the following information: Your PPP loan amount: Your PPP loan disbursement date: Employees at time of PPP loan application: Employees at time of forgiveness application: Your covered period. Amount of loan spent on payroll costs:

Requirements include: Copies of canceled checks. Bank statements with ACH information. Utility bills. Mortgage statements. Lease agreements. List of all employees on your payroll during the covered period. Evidence that your employees were kept on payroll or rehired upon receiving the loan.

We want to clarify that completion of Form 3508D is only required in certain circumstances which we are outlining below. It is not required for all PPP borrowers. The Form 3508D is mentioned in a section that refers to a specific situation as outlined below. It only needs to be completed when the following applies.

In order to successfully fill out Form 3508, you'll need the following information: Your business's legal name, DBA or trade name, and your business EIN or personal Social Security Number. Your business address, phone number, primary contact, and email address. Your SBA PPP Loan Number. The lender's PPP Loan Number.

Forgiven PPP loans and EIDL grants are considered "Other Tax Exempt Income" for federal purposes and will be reported on Schedule K-1 box 16B (S-corporations) or 18B (partnerships).

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. SBA Form 3508 is the document PPP loan borrowers must complete to request loan forgiveness.

Borrowers must use Forms 3508 to not just request loan forgiveness, but also to determine the amount of forgiveness. To get your PPP loan forgiven, you must: Use it for eligible expenses (60% of the loan for payroll costs and 40% for mortgage interest, rent, and utility costs)

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232