During the summer of 2020, most of our dental practice clients received the Provider Relief Fund (PRF) Phase 2 Subsidy equal to 2% of their 2019 net collections.  Many practices also received Phase 3 PRF subsidies during December 2020. HRSA requires that any practice that received PRF Grants totaling more  than $10k between 7/1/20 and 12/31/20 must self-report by March 31st that those funds were utilized properly.  More info is available at: https://www.hrsa.gov/provider-relief/reporting-auditing.

Please be aware that practices that don’t comply with the March 31st self-reporting deadline are at risk of forfeiting the PRF subsides received between 7/1/20 and 12/31/20.  We know this because healthcare practices participating in the Medicare System automatically received a Phase 1 PRF Subsidy in early April of 2020 and needed to self-report that the funds were used correctly by 9/30/21.  HRSA shut off the self-reporting portal on 9/30, reopened it briefly after that, and has since threatened that they will be requesting full refunds of the Phase 1 amounts for non-compliant practices.

Last week we started reaching out to our clients who need to self-report by 3/31/22.  If you would like our assistance to comply with this requirement, please email prf@schwartzaccountants.com. Our fee to assist our clients who use our payroll service with the self-reporting application is $750.