March 31 is the last day to report the use of Vendor Relief Fund payments over $10,000 received from July 1 through December 1. 31, 2020

Dentists and other healthcare providers who received one or more general or targeted Provider Relief Fund payments exceeding $10,000 in total between July 1, 2020 and December 31, 2020 must report on the use of these funds in reporting period 2, which ends March 31. Recipients were required to use funds received during this period by December 31, 2021.

Dentists must complete and submit their report electronically through the US Health Resources & Services Administration’s Provider Relief Fund reporting portal by 8:59 p.m. PST on March 31.

Quentin Stoker, chartered accountant and personal finance specialist at Thomas Doll, advised CDA members to avoid procrastinating.

“You don’t want to find yourself on the evening of March 31 interpreting questions being asked or frantically sifting through collection reports, payroll reports, practice reports, financial statements and receipts,” Stoker warns. “Understanding and interpreting the questions will take time, and you may need help collecting data from third parties.”

Registering to use the portal is the first step for Vendor Relief Fund recipients who have not yet registered and reported in the previous period. Dentists can refer to the HRSA User Guide for step-by-step instructions on registering for the portal, but should at least have the following information before beginning:

  • Tax Identification Number
  • Company name and address as it appears on IRS Form W-9
  • TIN of all branches
  • Supplier Relief Fund payment information, including amount and date received, for all payments received

HRSA estimates that registration takes about 20 minutes and notes that it should be completed in one sitting. The portal is only compatible with the most recent version of the Google Chrome, Mozilla Firefox or Microsoft Edge browser.

Reporting requirements: expenses paid with PRF payments, interest earned on payments

Dentists should read the HRSA’s post-payment reporting requirements for complete details on how to report the use of their funds, but in summary, dentists should report data in the following order:

  • The dollar value of interest earned on Supplier Relief Fund payments
  • Other assistance received per quarter, such as local, state, and tribal assistance or assistance from the Small Business Administration
  • Expenses Paid with General and Targeted PRF Payments
  • Net unreimbursed expenses attributable to the coronavirus
  • Reimbursement of loss of profit

Expenditures paid with general and targeted PRF payments should be reported in two categories: general/administrative expenditures and health care expenditures. Dentists can only claim expenses that another funding source has not already reimbursed and is not obligated to reimburse.

The HRSA lists allowable expenses for both reporting categories. General and administrative expenses may include mortgage, rent, training and staffing, insurance premiums, utilities and others. Health care expenses include, but are not limited to, purchases of supplies, equipment, and information technology to prevent, prepare for, or respond to the coronavirus during the reporting period.

Stoker says that when reporting the use of funds, most dental practice owners should take credit for the sharp drop in patient revenue they experienced in the second quarter of 2020 – at the start of the pandemic. “Taking credit for this decline is often an easier alternative than judging whether a certain expense has already been reimbursed through another government program or was truly used to prevent, prepare for, or respond to coronavirus” , did he declare.

Reporting period 3 opens July 1

The Federal Vendor Relief Fund was created in 2020 to financially support vendors who have experienced lost revenue and increased expenses during the COVID-19 pandemic. CDA has kept its members informed of opportunities to apply for the various general and targeted phases of vendor relief funding. Three CDA members shared in an article last year how they spent their vendor relief funds.

The Supplier Relief Fund is now closed. The next reporting period (period 3) for PRF payments received from January 1 to June 30, 2021 will open in July.

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