As of June 16, 2020, the SBA released instructions and guidelines for Borrowers to apply for forgiveness of their Paycheck Protection Program (PPP) loans by completing an application and submitting it to their Lender. These updated guidelines reflect the changes that were implemented after the PPP Flexibility Act of 2020 (PPP Flexibility Act) was signed into law. The PPP Flexibility Act provides small businesses with more time and flexibility to spend funds obtained through the PPP. The PPP Flexibility Act extends the covered period from 8 weeks to 24 weeks from disbursement, but not to extend past Dec. 31, 2020.

Bates Legal Group, LLC suggests that you consult with your attorney, accountant and/or lender before completing and submitting these forms.

Borrowers may either use Form 3580EZ if they meet certain criteria, or the PPP Loan Forgiveness Calculation Form. Below you will find both the instructions and the application for each.

Form 3508EZ
Instructions: https://www.sba.gov/sites/default/files/2020-06/PPP%20Loan%20Forgiveness%20Application%20Form%20EZ%20Instructions%20%28Revised%2006.16.2020%29-508.pdf
Application: https://home.treasury.gov/system/files/136/PPP-Forgiveness-Application-3508EZ.pdf
PPP Schedule A and the PPP Loan Forgiveness Calculation Form
Instructions: https://www.sba.gov/sites/default/files/2020-06/PPP%20Loan%20Forgiveness%20Application%20Instructions%20%28Revised%206.16.2020%29-508.pdf
Application: https://home.treasury.gov/system/files/136/3245-0407-SBA-Form-3508-PPP-Forgiveness-Application.pdf