PAYCHECK PROTECTION PROGRAM (PPP)
LOAN FORGIVENESS PROCESS
®
All loans are subject to other requirements and availability of funds under the SBA program.
JPMorgan Chase Bank, N.A. Member FDIC. Equal Opportunity Lender.
© 2020 JPMorgan Chase & Co.
See the PPP Loan Forgiveness Application
3508EZ or 3508 form for a complete list
of documents.
Some eligible payroll costs include:
Covered Period starts the day loan funds were deposited
into your Chase Business Checking account or
Alternative Payroll Covered Period starts the rst day of
the rst pay period following deposit of loan funds
For non-payroll, use the 24- or 8-week Covered Period.
LOAN FORGIVENESS STEPS
Here’s how Forgiveness will work for PPP loans processed through Chase. It is your obligation,
as the borrower, to understand the SBA’s rules.
EMPLOYEE COMPENSATION
CASH TIPS
PAYMENT FOR LEAVE
EMPLOYEE BENEFITS
You’ll need to use either the 3508EZ or 3508 form. Determine if you can use the
simpler form by following the SBA’s Checklist for Using SBA Form 3508EZ. If using
the full 3508 form, complete the PPP Schedule A Worksheet rst before starting
your Forgiveness request with Chase. You’ll need the answers from the Schedule A
Worksheet. If you have a payroll provider, request a payroll report from them.
STEP 1
Document your eligible payroll and
non-payroll costs
STEP 2
Prepare to request Forgiveness
You’ll be able to view your Forgiveness status online anytime by logging into your Chase Business
Online account. If we have questions, we’ll contact you.
STEP 4
Track your Forgiveness request
Visit SBA.gov and Treasury.gov for the latest information regarding PPP Loan Forgiveness.
Upload the documents that support how you spent
your loan funds on eligible payroll and non-payroll
costs within the Covered Period.
STEP 3
Request Forgiveness
through chase.com
For payroll, use the 24-week Covered Period or Alternative
Payroll Covered Period. If you were funded before June 5,
2020, you can choose to use an 8-week or 24-week Covered
Period or Alternative Payroll Covered Period:
ACCEPTABLE PAYROLL AND NON-PAYROLL
DOCUMENTATION EXAMPLES FROM THE SBA:
Payroll tax lings reported to the IRS
State income, payroll and unemployment
insurance lings
Financial statements verifying payment on
rent/utility and debt obligations established
before February 15, 2020
INTEREST PAYMENTS ON
MORTGAGES
RENT PAYMENTS ON LEASES
UTILITY PAYMENTS
Some eligible non-payroll costs include:
You’ll need to have a Chase
Business Online prole. If you
don’t have one, click here.
We’ll let you know when you
can request Forgiveness
through chase.com.
