Yes. As part of an annual review, each Participant firm must submit to the servicing district office the following:
- A certification that it meets the 8(a) BD program eligibility requirements;
- A certification that there have been no changed circumstances which could adversely affect the Participant's program eligibility;
- Personal financial information for each disadvantaged owner;
- A record from each individual claiming disadvantaged status regarding the transfer of assets for less than fair market value to any immediate family member, or to a trust in which an immediate family member is a beneficiary, within two years of the date of the annual review. The record must provide the name of the recipient(s) and family relationship and the difference between the fair market value of the asset transferred and the value received by the disadvantaged individual;
- A record of all payments, compensation, and distributions (including loans, advances, salaries, and dividends) made by the Participant to each of its owners, officers, directors, or to any person or entity affiliated with such individuals;
- IRS Form 4506, Request for Copy or Transcript of Tax Form; and
- Such other information that SBA may deem necessary.
When a Participant fails to provide documentation for annual review, SBA may initiate termination proceedings.
