Providers that received CARES Act Provider Relief Fund (PRF) payments between July 1, 2020, and December 31, 2020 (Period 2), in excess of $10,000 must submit a formal report on their use of those funds no later than 11:59 p.m. ET, Thursday, March 31, 2022.
A provider that does not submit a timely report will be required to return all Period 2 PRF payments. Providers that did not report for Period 1 (April 10, 2020, to June 30, 2020) now are receiving demand letters requiring repayment within 30 days, regardless of whether they used the funds for COVID-related expenses or to cover lost revenues.
Providers should not wait until the last minute. Access to the reporting portal is limited to those providers that have completed the registration process. Further information and access to the reporting portal can be found here. See also PYA’s Round 1 reporting guide for additional insight. Note that while you can choose any method for reporting lost revenue, changes to this method from one period to the next will be applied retroactively to all previous calculations. This should be a consideration if you received additional PRF funds and are subject to reporting for other periods.
If you have questions or need assistance related to PRF reporting, or need additional COVID-19 guidance, visit PYA’s COVID-19 hub, or one of our executive contacts would be happy to assist. You may email them below or call (800) 270-9629.