Restaurant Revitalization Fund (RRF) recipients are required to report to the Small Business Administration (SBA) through the application portal, how much of their RRF award has been used on eligible expenses no later than December 31, 2021. The RRF program rules allow recipients to include any eligible expenses incurred beginning on February 15, 2020 through to the date the report is completed.
Note: Regardless of when RRF funds are received, the program rules allow the recipient to include any eligible expenses incurred beginning on February 15, 2020 through the date the report is completed. All RRF recipients have until March 11, 2023 to use award funds. RRF recipients that do not fully expend award funds prior to December 31, 2021 will be required to complete annual reporting submissions until they fully expend the award funding, or until the March 11, 2023 period of performance expires.
RRF and the Employee Retention Credit
For RRF recipients that have not yet claimed, but are eligible, for the Employee Retention Credit (ERC), consider solely utilizing non-payroll costs for RRF through the end of the 3rd quarter to maximize employee wages and group health plan costs available for ERC purposes prior to the expiration of the ERC program on October 1, 2021.
If an RRF recipient has fully expended the award funds prior to December 31, 2021, they can complete the report and certify in the application portal that proceeds have been used on eligible expenses.
More information on allowable use of funds and specific expenses can be found here.