The U.S. Small Business Administration (SBA) issued letters to all 8(a) Business Development Program contractors, requiring them to produce financial records as part of a comprehensive effort to protect taxpayers and legitimate small businesses by rooting out fraud, waste, and abuse. All 4,300 8(a) participants are mandated to provide financial documents for the last three fiscal years, including bank statements, financial statements, general ledgers, payroll registers, contracting and subcontracting agreements, and employment records. Firms that fail to comply by January 5, 2025, may lose their eligibility to participate in the 8(a) Program and could face further investigative or remedial actions.
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SBA Orders All 8(a) Participants to Provide Financial Records
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