Course: Proposed Rule on Profits and Related Basis Adjustments based on this document from the Federal Register: https://www.govinfo.gov/content/pkg/FR-2024-12-02/pdf/2024-27227.pdf This document contains proposed regulations regarding previously taxed earnings and...
SBA Interim Final Rule: Extended Record Keeping for PPP Lenders
Explore the intricacies of the SBA’s interim final rule mandating a ten-year retention period for Paycheck Protection Program (PPP) loan records. This rule ensures that lenders maintain comprehensive documentation in alignment with the extended statute of limitations for PPP fraud investigations. Stay compliant, avoid penalties, and support law enforcement efforts through meticulous record-keeping.
In this course you will learn the following:
* Understand the key requirements of the extended records retention rule for PPP lenders.
* Identify the implications of the rule for federally regulated and SBA Supervised Lenders.
* Recognize the consequences of non-compliance with the new records retention requirements.
Additional information
| Federal Register Title | Business Loan Program Temporary Changes; Paycheck Protection Program-Extension of Lender Records Retention Requirements. Document Number: 2024-18083 |
|---|---|
| Course SKU | FR-24-1018-1 |
| Why This Course Is Important | Lenders risk non-compliance penalties, legal challenges, and reputation damage if they are not informed about the extended record retention requirements for PPP loans. |