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U.S. Treasury, Q&A: Payroll Support Program Compliance Obligations (updated June 30, 2020)

Summary

A Treasury question-and-answer document titled Payroll Support Program Compliance Obligations, updated June 30, 2020. It states that every passenger air carrier, cargo air carrier and contractor that signed a PSP Agreement must certify compliance on a quarterly basis and provide a report containing the information listed in paragraph 12 of the PSP agreement. It states that reports are due no later than 45 days after the end of the first three calendar quarters each year and 90 days after the end of each calendar year, and a table lists deadlines from August 14, 2020 through May 15, 2022. It says Treasury will activate a secure portal for submitting required data, reports and certifications in early July 2020.

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“U.S. Treasury, Q&A: Payroll Support Program Compliance Obligations (updated June 30, 2020).” Original at home.treasury.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/u-s-treasury-q-a-payroll-support-program-compliance-obligations-update-db43a7e13e/, SHA-256 72da9b9587cb7cb6370438ae48f1dd94041a3d6670ee2a816de2a9c39d1a866e.

Full text

   Q&A: Payroll Support Program Compliance Obligations Updated June 30, 2020

GENERAL INFORMATION

1. How can I contact Treasury regarding Payroll Support Program (PSP) compliance
   questions?
   Recipients should send all questions regarding PSP compliance to Treasury at
   CaresActCompliance@Treasury.gov.        Treasury will acknowledge receipt of all
   communications within two business days, and will endeavor to respond to PSP compliance
   questions within five business days.
   Treasury will also provide additional information on common questions by updating these
   FAQs.


QUARTERLY REPORTING OBLIGATIONS OF PSP RECIPIENTS

2. My first quarterly compliance report is due soon. What does Treasury expect to see?
   Every passenger air carrier, cargo air carrier, and contractor that signed a PSP Agreement
   is required, on a quarterly basis, to certify that it is in compliance with the terms and
   conditions of the PSP Agreement and to provide a report containing the information listed
   in paragraph 12 of the PSP agreement. The required report includes information such as
   details regarding the expenditure of Payroll Support funds, the recipient’s financial
   statements, and information regarding the recipient’s employee headcount and
   compensation. Treasury will provide a template for the report and certifications.
   Recipients are also required to report other information to Treasury periodically, under
   other provisions under the PSP Agreement.

TIMING AND DEADLINES

3. What are the due dates for submitting quarterly reports to Treasury?
   Recipients must provide the required reports no later than 45 days after the end of the first
   three calendar quarters each year, and 90 days after the end of each calendar year (or 90
   days after the end of the recipient’s fiscal year) for its annual financial reporting
   requirements only. Treasury will begin accepting reports on the first business day of each
   quarter and year. The table below lists these deadlines.

  Year                 Quarter (Q)                     Report and Certification Deadline
 2020    Q1: January 1 – March 31, 2020              n/a
         Q2: April 1 – June 30, 2020                 August 14, 2020
         Q3: July 1 – September 30, 2020             November 14, 2020
         Q4: October 1 – December 31, 2020           March 31, 2021
 2021    Q1: January 1 – March 31, 2021              May 15, 2021
         Q2: April 1 – June 30, 2021                 August 14, 2021
         Q3: July 1 – September 30, 2021             November 14, 2021
         Q4: October 1 – December 31, 2021           March 31, 2022
 2022    Q1: January 1 – March 31, 2022              May 15, 2022


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   Q&A: Payroll Support Program Compliance Obligations Updated June 30, 2020

        Reporting and certification requirements will continue if Taxpayer Protection
        Instruments are outstanding after March 31, 2022.


COMPLIANCE DATA SUBMISSION


4. What is the format and method of transmission for quarterly reports and
   certifications under paragraph 12 of the PSP Agreement?
  In early July 2020, Treasury will activate a secure portal for PSP recipients to submit
  required data, reports, and certifications. Recipients should set up their portal access in a
  timely fashion, so they can resolve any technical difficulties before their next reporting and
  certification deadline.
  Treasury will provide further guidance in forthcoming FAQs.




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