Steps to Submit Your SBA PPP Forgiveness Application Online
September 13, 2021
Forgiveness Application Process
First Citizens Bank (FCB) has provided a customer portal for SBA-PPP borrowers to access through BOB
Advantage®. The portal allows borrowers enrolled on this platform to complete, submit, and attest to the
information on the PPP Loan Forgiveness Application Form 3508 Revised July 30, 2021 or the PPP Loan
Forgiveness Application Form 3508EZ Revised July 30, 2021
, as well as upload required documentation. We
encourage you to use this platform to make the forgiveness application submission easier for you, secure and
ensure a more timely processing experience. You must use a separate loan forgiveness application form to apply
for forgiveness of both a First and Second Draw PPP loan. The First Draw PPP loan forgiveness must be
submitted before or simultaneously with the forgiveness application of the Second Draw PPP loan. If you
experience any challenges submitting your information through the BOB Advantage portal or aren’t currently
enrolled in BOB Advantage, please reach out to your local First Citizens Bank associate directly for further
assistance.
The Bank’s role is to complete a good faith review and certify the required documentation has been submitted
with the application. It is the borrower’s responsibilityto provide accurate information and verify the accuracyof
the calculation of the loan forgiveness amount and all other calculations on the forgiveness application form.
Disclaimer
First Citizens Bank cannot guarantee forgiveness of your PPP loan, and loan forgiveness is subject in all respects to the
PPP regulations implemented from time to time. Forgiveness of the PPP loan is only available for amounts that are
used for the limited purposes that qualify for forgiveness under the PPP regulations. Forgiveness of the PPP loan is
not automatic, and you must request it. To obtain loan forgiveness, you will be required to provide documentation in
accordance with the PPP regulations and attest that the amounts that you are requesting to be forgiven qualify under
the PPP regulations. You will remain responsible under the PPP loan for any amounts of p rincipal and interest that
are not forgiven. First Citizens Bank will not apply for loan forgiveness for you, and you are responsible for
understanding the PPP regulations applicable to loan forgiveness. You should consult with your own legal,
accounting, and financial advisors when calculating your loan forgiveness amount and when applying for loan
forgiveness.
Summary of Eligible Costs for Forgiveness
For a complete summary of eligible costs that can be submitted for forgiveness, please refer to the PPP Loan
Forgiveness Application Form 3508 Revised July 30, 2021 or PPP Loan Forgiveness Application Form 3508EZ
Revised July 30, 2021.
Using the EZ Forgiveness Application
Refer to the PPP Loan Forgiveness Application Form 3508EZ Revised July 30, 2021 for specific details on your
eligibility to use the EZ Application. If you can check at least one of the 2 listed criteria below you may be able
complete the EZ Forgiveness application. Otherwise you must complete the standard forgiveness application,
Form 3508.
☐ Did not reduce the annual salary or hourly wages of any employee by more than 25% during the Covered
Period, and did not reduce the number of employees or average paid hours of employees between
January 1, 2020 and the end of the Covered Period.
☐ Did not reduce the annual salary or hourly wages of any employee by more than 25% duirng the Covered
Period and was unable to operate duirng the Covered Period at the same level of business activity as
before February 15, 2020 due to compliance requirements established or guidance issued between March
1, 2020 and December 31, 2020 by certain federal agencies.
Required Documentation for the EZ Application
Submission of the following documentation will be required for the EZ Forgiveness application, regardles s of the
delivery method used:
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Steps to Submit Your SBA PPP Forgiveness Application Online
1. Completed SBA Paycheck Protection Program Loan EZ Forgiveness Application to include:
a. The PPP Loan Forgiveness Calculation Form 3508 EZ
b. Certification with signature
2. Payroll: Documentationverifying the eligible cashcompensation and non-cash benefit payments from
the Covered Period beginning with your disbursement date consisting of each of the following:
a. If using third-party payroll service provider reports documenting the amount of cash
compensation paid to employees, no other payroll documentation needed.
b. If using an internal payroll report, then Bank account statements documenting the amount of
cash compensation paid to employees; and
c. Tax forms for the periods that overlap with the Covered Period:
i. Payroll tax filings reported, or that will be reported, to the IRS (typically, Form 941); and
ii. State quarterly business and individual employee wage reporting and unemployment
insurance tax filings reported, or that will be reported, to the relevant state.
d. Payment receipts, cancelled checks, or account statements documenting the amount of any
employer contributions to employee health insurance and retirement plans that the Borrower
included in the forgiveness amount.
e. If you checked only the second box on the checklist on page 1 of these instructions, the average
number of full-time equivalent employees on payroll employed by the Borrower on January 1,
2020 and at the end of the Covered Period.
3. Non payroll: For categories a-c, documentation verifying existence of the obligations/services prior to
February 15, 2020 and, for all categories, eligible payments from the Covered Period.
a. Business mortgage interest payments: Copy of lender amortization schedule and receipts or
cancelled checks verifying eligible payments from the Covered Period; or lender account
statements from February 2020 and the months of the Covered Period through one month after
the end of the Covered Period verifying interest amounts and eligible payments.
b. Business rent or lease payments: Copy of current lease agreement and receipts or cancelled
checks verifying eligible payments from the Covered Period; or lessor account statements from
February 2020 and from the Covered Period through one month after the end of the Covered
Period verifying eligible payments.
c. Business utility payments: Copy of invoices from February 2020 and those paid during the
Covered Period and receipts, cancelled checks, or account statements verifying those eligible
payments. May include transportation utility fees assessed by state and local
governments. Payments of these fees by the borrower is eligible for loan forgiveness.
d. Covered operations expenditures: Copy of invoices, orders, or purchase orders paid during the
Covered Period and receipts, cancelled checks, or account statements verifying those eligible
payments.
e. Covered property damage costs: Copy of invoices, orders, or purchase orders paid during the
Covered Period and receipts, cancelled checks, or account statements verifying those eligible
payments, and documentation that the costs were related to property damage and vandalism or
looting due to public disturbances that occurred during 2020 and such costs were not covered by
insurance or other compensation.
f. Covered supplier costs: Copy of contracts, orders, or purchase orders in effect at any time before
the Covered Period (except for perishable goods), copy of invoices, orders, or purchase orders
paid during the Covered Period and receipts, cancelled checks, or account statements verifying
those eligible payments.
g. Covered worker protection expenditures: Copy of invoices, orders, or purchase orders paid
during the Covered Period and receipts, cancelled checks, or account statements verifying those
eligible payments, and documentation that the expenditures were used by the Borrower to
comply with applicable COVID-19 guidance during the Covered Period.
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Steps to Submit Your SBA PPP Forgiveness Application Online
Required Documentation for the Standard Application
Submission of the following documentation will be required for the standard forgiveness application, regardless of
the delivery method used:
1. Completed SBA Paycheck Protection Program Loan Forgiveness Application to include:
a. The PPP Loan Forgiveness Calculation Form 3508
b. Schedule A
c. Certification with signature
d. Schedule A worksheet is not required but should be provided if your local First Citizens Bank
Associate is to enter the application for you.
2. Payroll: Documentation verifying the eligible cash compensation and non-cash benefit payments from
the Covered Period beginning with your disbursement date consisting of each of the following:
a. If using third-party payroll service provider reports documenting the amount of cash
compensation paid to employees, no other payroll documentation needed.
b. If using an internal payroll report, then Bank account statements documenting the amount of
cash compensation paid to employees; and
c. Tax forms (or equivalent third-party payroll service provider reports) for the periods that overlap
with the Covered Period:
i. Payroll tax filings reported, or that will be reported, to the IRS (typically, Form 941); and
ii. State quarterly business and individual employee wage reporting and unemployment
insurance tax filings reported, or that will be reported, to the relevant state.
d. Payment receipts, cancelled checks, or account statements documenting the amount of any
employer contributions to employee group health, life, disability, vision or dental insurance and
retirement plans that the Borrower included in the forgiveness amount (PPP Schedule A, lines (6)
and (7)).
3. FTE: Documentation showing (at the election of the Borrower):
a. the average number of FTE employees on payroll per week employed by the Borrower between
February 15, 2019 and June 30, 2019;
b. the average number of FTE employees on payroll per week employed by the Borrower between
January 1, 2020 and February 29, 2020; or
c. in the case of a seasonal employer, the average number of FTE employees on payroll per week
employed by the Borrower between February 15, 2019 and June 30, 2019; between January 1,
2020 and February 29, 2020; or any consecutive twelve-week period between February 15, 2019
and February 15, 2020.
The selected time period must be the same time period selected for purposes of completing PPP Schedule A,
line 11. Documents may include payroll taxfilings reported, or that will be reported, to the IRS(typically,
Form 941) and state quarterly business and individual employee wage reporting and unemployment
insurance tax filings reported, or that will be reported, to the relevant state. Documents submitted may cover
periods longer than the specific time period.
4. Non payroll: For categories a-c, documentation verifying existence of the obligations/services prior to
February 15, 2020 and eligible payments from the Covered Period.
a. Business mortgage interest payments: Copy of lender amortization schedule and receipts or
cancelled checks verifying eligible payments from the Covered Period; or lender account
statements from February 2020 and the months of the Covered Period through one month after
the end of the Covered Period verifying interest amounts and eligible payments.
b. Business rent or lease payments: Copy of current lease agreement and receipts or cancelled
checks verifying eligible payments from the Covered Period; or lessor account statements from
February 2020 and from the Covered Period through one month after the end of the Covered
Period verifying eligible payments.
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Steps to Submit Your SBA PPP Forgiveness Application Online
c. Business utility payments: Copy of invoices from February 2020 and those paid during the
Covered Period and receipts, cancelled checks, or account statements verifying those eligible
payments. May include transportation utility fees assessed by state and local
governments. Payments of these fees by the borrower is eligible for loan forgiveness.
d. Covered operations expenditures: Copy of invoices, orders, or purchase orders paid during the
Covered Period and receipts, cancelled checks, or account statements verifying those eligible
payments.
e. Covered property damage costs: Copy of invoices, orders, or purchase orders paid during the
Covered Period and receipts, cancelled checks, or account statements verifying those eligible
payments, and documentation that the costs were related to property damage and vandalism or
looting due to public disturbances that occurred during 2020 and such costs were not covered by
insurance or other compensation.
f. Covered supplier costs: Copy of contracts, orders, or purchase orders in effect at any time before
the Covered Period (except for perishable goods), copy of invoices, orders, or purchase orders
paid during the Covered Period and receipts, cancelled checks, or account statements verifying
those eligible payments.
g. Covered worker protection expenditures: Copy of invoices, orders, or purchase orders paid during
the Covered Period and receipts, cancelled checks, or account statements verifying those eligible
payments, and documentation that the expenditures were used by the Borrower to comply with
applicable COVID-19 guidance during the Covered Period.
Business Online Banking Advantage (BOB Advantage)
If you have questions while submitting your forgiveness application, please contact your local First Citizens Bank
Associate for assistance.
On the landing page of your BOB account, in the upper right hand corner, click on the PPP Loan Forgiveness
hyperlink. If you have an SBA-PPP loan in the name under this account, you will see this link.
Important Note: You will not see the PPP Loan Forgiveness selection if:
• Your BOB account is in your individual name, but your SBA PPP loan was submitted in the name of your
business.
• Your BOB account is in the name of one business, but you use it for multiple business entities, and you
submitted other SBA PPP loan applications under your related entity names.
In either instance, you will need to submit your application through your local First Citizens Bank Associate. Please
follow those instructions.
Step 1
• Review your supporting documentation and calculations to ensure they are complete and accurate before
entering the data here. The fields and flow will mirror the application format.
Step 2
• Read the SBA PPP Forgiveness Disclaimer and click the acknowledge button to confirm agreement.
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Steps to Submit Your SBA PPP Forgiveness Application Online
Step 3
• Review the Business LegalName, Address, Tax ID, and loan information section on the Loan Information screen
to ensure it is correct and matches the information on the SBA PPP Loan requesting forgiveness. Complete any
required blank fields.
Required fields are noted with
an asterisk.
Tab from field to field to input
data.
Step 4
• PPP 3508EZ Determination
• Review the 2 requirements displayed on the screen.
• If one of the requirements applies to you, place a check in the preceding box
• If you can select at least one of the requirements, you will be presented with the EZ application to
complete.
• If you cannot select one of the 2 requirements, you will be required to complete the standard
application.
Clickthis link to skip to page 8 to find the standardform instructions .
• Click Next to proceed to the appropriate application.
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Steps to Submit Your SBA PPP Forgiveness Application Online
SBA Form 3508EZ
Step 1
• Under the Forgiveness Questions:
o Defaults to First Draw PP Loan, if the loan was a first draw. Defaults to Second Draw PPP Loan, if this is
for a second draw request.
o Complete the number of Employees at Time of Application and the number of Employees at Time of
Forgiveness Application fields.
o Covered Period From Date: This date defaults to the date your funds were originally disbursed. Do Not
Change this date.
o Covered Period To Date: Enter the end date (between the 8 to 24 weeks) that the Forgivable Expenses
were paid or incurred.
Step 2
• If your loan or the total of your loan combined with affiliated entities was in excess of $2 million, check the
corresponding box.
Step 3
• Complete the Forgiveness Calculation section for the following fields:
• Totalpayroll costs paid or incurred during the covered period.
• Nonpayroll Costs, ifapplicable (Business Mortgage InterestPayments, Business Rent or Lease Payments,
Business UtilityPayments, CoveredOperating Expenses, CoveredProperty Damage Costs,Covered
Supplier Costs andCovered Worker Protection Expenses).
• PotentialForgiveness Amounts. These fields auto populate based on the data entered previously.
• Final Forgiveness Amount. This field auto populates based on the data entered previously.
Step 4
• Upload all required documents as outlined on the SBA PPP Forgiveness Application to support the applicable
data entered in the previous fields. Only one document per document type can be uploaded. If you have
multiple documents supporting the selected category, scan them into one document to upload. If no documents
are uploaded at all, BOB will not submit your application. If any required documentation is not uploaded or
calculations are incorrect your forgiveness application will not be processed until the documentation is received
or calculation errors corrected.
Important: The BOB Platform allows for a total of 20 MB
for uploaded files.
If your documents are larger than 20 MB, upload as many
files as you can to not exceed the limit and submit your
application. Secure email the remaining files to your FCB
Associate, whowill assist inuploading the documents to
your application once we receive it.
oClick the Next button to proceed.
oIf you click the Back button you return to the Loan Information screen and all your data entered is
saved.
oIf you click the Cancel button the application is closed, and the data entered is not saved.
Steps to Submit Your SBA PPP Forgiveness Application Online
Step 5
• Optional-Complete the SBA PPP Borrower Demographic Information sectionfor eachof the Borrower’s
Principals. Allows up to 5 Principals.
oClick the Next button to proceed.
oIf you click the Back button you return to the Forgiveness Calculation screen and all your data entered is
saved.
oIf you click the Cancel button the application is closed, and the data entered is not saved.
Step 6
• Complete the Certification section by entering your initials in the preceding boxes of first 9 statements.
• Then certify by entering your initials in one of the boxes preceding the bottom two statements.
• Sign, enter your title, and date at the bottom to complete the certification.
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Steps to Submit Your SBA PPP Forgiveness Application Online
• Click the Submit button if you have completed all the required fields.
• If any required fields were left blank when you click Submit you will receive an error message on the top of the
page of the missing information.
Warning: Once you click the Submit button and the application routes successfully you will not be able to
access the application again to make any edits. Contact your local First Citizens Bank Associate if you need to
make corrections.
Step 9
• If your submission was successful, you will receive a message and a PDF version of the application you
completed in BOB. Save or Print a PDF version of the completed fields and attestation and keep for your
records.
• Click the Close button to end the application and return to the BOB landing page.
Timeline
• Upon receipt of a completed application, FCB has 60 days to submit your application to SBA.
• SBA has 90 days from the date of receipt of the application from FCB to render a decision and remit the
appropriate forgiveness amount, plus any accrued interest.
• You will receive notice via email from us regarding the final disposition of your forgiveness application and, if
applicable, related next steps once we receive the final decision from the SBA.
SBA Standard Form 3508 Application
Step 1
• Using the data you completed on the PPP Schedule A Worksheet:
• Complete Table 1 & 2 Totals.
• Complete the Non-Cash Compensation Payroll Costs during the Covered Period
• Complete the Compensation to Owners field
• Total Payroll Costs field will auto calculate based on the entries in the previous fields.
• Review to see if you can satisfy one of the 3 criteria listed to skip the FTE Reduction Calculation fields
first. If you cannot satisfy one of the criteria, complete the Full-Time Equivalency (FTE) Reduction
Calculation fields.
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Steps to Submit Your SBA PPP Forgiveness Application Online
Step 2
• Upload all required documents as outlined on the SBA PPP Forgiveness Application to support the applicable
data entered in the previous fields. Only one document per document type can be uploaded. If you have
multiple documents supporting the selected category, scan them into one document to upload. If no documents
are uploaded at all, BOB will not submit your application. If any required documentation is not uploaded or
calculations are incorrect your forgiveness application will not be processed until the documentation is received
or calculation errors corrected.
Important: The BOB Platform allows for a
total of 20 MB for uploaded files.
If your documents are larger than 20 MB,
upload as many files as you can to not
exceed the limit and submit your
application. Secure email the remaining
files to your FCB Associate, who will assist
in uploading the documents to your
application once we receive it.
oClick the Next button to proceed.
oIf you click the Back button you return to the Loan Information screen and all your data entered is
saved.
oIf you click the Cancel button the application is closed, and the data entered is not saved.
Step 3
• Complete the number of employees at time of application and the number ofemployees at time of forgiveness
application fields.
Step 4
• Under the Forgiveness Questions:
o Defaults to First Draw PP Loan, if the loan was a first draw. Defaults to Second Draw PPP Loan, if this is
for a second draw request.
o Complete the number of Employees at Time of Application and the number of Employees at Time of
Forgiveness Application fields.
o Covered Period From Date: This date defaults to the date your funds were originally disbursed. Do Not
Change this date.
o Covered Period To Date: Enter the end date (between the 8 to 24 weeks) that the Forgivable Expenses
were paid or incurred.
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Steps to Submit Your SBA PPP Forgiveness Application Online
Step 5
• If your loan or the total of your loan combined with affiliated entities was in excess of $2 million, check the
corresponding box.
Step 6
• Complete the Forgiveness Calculation section for the following fields:
• Totalpayrollcosts paid or incurred during the covered period.
• Nonpayroll Costs, ifapplicable (Business Mortgage InterestPayments, Business Rent or Lease Payments,
Business UtilityPayments, CoveredOperating Expenses, CoveredProperty Damage Costs,Covered
Supplier Costs and Covered Worker Protection Expenses).
• PotentialForgiveness Amounts. These fields auto populate based on the data entered previously.
• Final Forgiveness Amount. This field auto populates based on the data entered previously.
Step 7
• Optional-Complete the SBA PPP Borrower Demographic Information sectionfor eachof the Borrower’s
Principals. Allows up to 5 Principals.
Step 9
• Complete the Certification section by entering your initials next to each statement, sign and date.
• Click the Submit button if you have completed all the required fields.
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Steps to Submit Your SBA PPP Forgiveness Application Online
• If any required fields were left blank when you click Submit you will receive an error message on the top of the
page of the missing information.
Warning: Once you click the Submit button and the application routes successfully you will not be able to
access the application again to make any edits. Contact your local First Citizens Bank Associate if you need to
make corrections.
Step 10
• If your submission was successful, you will receive a message and a PDF version of the application you
completed in BOB. Save or Print a PDF version of the completed fields and attestation and keep for your records.
• Click the Close button to end the application and return to the BOB landing page.
Timeline
• Upon receipt of a completed application, FCB has 60 days to review your application and issue a decision to the
SBA.
• The SBA then has 90 days to render a final decision and remit the appropriate forgiveness amount, plus any
accrued interest.
• You will receive notice via email from us regarding the final disposition of your forgiveness application and, if
applicable, related next steps once we receive the final decision from the SBA.
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