16 Jun 2025
📄OMB Review Notice
Submission for OMB Review; Indirect Cost Rate Proposals, Payments to Small Business Subcontractors, and Bankruptcy Notifications
Summary
Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat Division has submitted to OMB a request to review and approve an extension of a previously approved information collection requirement regarding indirect cost rate proposals, payments to small business subcontractors, and bankruptcy notifications.
Agencies
- Defense Department
- General Services Administration
- National Aeronautics and Space Administration
- Federal Procurement Policy Office
- Management and Budget Office
Business Impact
$$$ - High
The document outlines compliance requirements for businesses related to indirect cost proposals, payments to small business subcontractors, and bankruptcy notifications, indicating significant regulatory obligations. These requirements necessitate businesses to maintain accurate financial records and timely communication with contracting officers, potentially impacting cash flow and operational strategies.