We’re entering the final weeks of Period 4 reporting period that closes on March 31, 2023. Period 4 reporting is required for any organization that received more than $10,000 in the aggregate from the Phase 4 PRF distributions and the ARP Rural payment between 7/1/21 and 12/31/21.
Most recipients of Phase 4 and ARP Rural funds received those payments in November and December 2021 and are required to report on the use of the funds now. Please make sure you have updated your login information at the reporting portal prior to reporting. HRSA has updated and upgraded the security and two-factor authentication process. The reporting portal can be found here.
If you received payments after 12/31/21, below is the revised reporting requirement timeline from HRSA to determine your new reporting period.
Period 4 brings a few changes to the PRF reporting portal. While the basic reporting template and use of funds remains unchanged, the addition of the ARP Rural payments adds for some additional schedules that will be required to be completed.
- COVID expenses and interest earned (if applicable) will be required to be reported on separately for ARP Rural and Phase 4 payments.
- That means providers have to determine which COVID expenses are applicable to each of the payments (if both were received) and correctly report on the use on separate screens.
- Lost Revenue will be updated one time and the system will apply any available lost revenues to both ARP and Phase 4 payments that were not used by your reported COVID expenses
- Before logging into the portal to report, ensure that you have a plan of which COVID expenses or quarters of lost revenue will be used for each of the separate payments. If you are trying to use up lost revenue from 2020 or 2021 you will have to enter in the exact amount of COVID expenses prior to the lost revenue screens
Period 4 Reporting on Behalf of a Subsidiary
Another issue to be aware of is if you are a parent organization who is reporting on behalf of a subsidiary, you will want to spend extra time reviewing which entity received an Phase 4 and ARP Rural payments as consolidated TIN applications were allowed for these payments. While reporting, you will still be asked if you transferred general distributions between parent and subsidiary entities. Make sure you take the time to log into all parent/child accounts and confirm how HRSA as attached and identified payments so you can report appropriately.
If you have questions about Period 4 Reporting or Provider Relief Funds in general, please contact your local Blue & Co. Advisor or Michael Alessandrini using the contact information below.
Michael Alessandrini, CPA, MBA, Reimbursement Director