The Centers for Medicare & Medicaid Services (CMS) strongly urges all bidders to read the financial document requirements in the Round 1 Recompete Request for Bids (RFB) instructions and carefully check your documents to make sure they exactly meet all requirements. If your financial documents do not meet all of the specific requirements in the RFB instructions, all of your bids will be disqualified and you will not be considered for a contract. If you have already submitted your financial documents, it is not too late to submit corrections. Make sure you mail all required documents, including any corrected documents, in time for them to be RECEIVED by the Competitive Bidding Implementation Contractor (CBIC) on or before December 14, 2012. Faxed or e-mailed documents will not be accepted.
Please note that the covered document review process DOES NOT check the accuracy or completeness of your financial documents and DOES NOT permit you to submit revised documents after December 14, 2012.
You can find the Round 1 Recompete RFB instructions on this website. You can also find the Required Financial Documents fact sheet and a Financial Documentation Requirements webcast on this website. Make sure you meet every requirement. For example:
- You must submit your most current tax return extract filed with the IRS, and your financial statements (statement of cash flows, income statement, and balance sheet) must be for the same time period as your tax return. Tax extension forms are not allowed (Round 1 Recompete RFB, page 15).
For example, if your most recent tax return covers January 1, 2010, through December 31, 2010, your financial statements must also cover January 1, 2010, through December 31, 2010. If you have not filed your 2011 taxes, you must submit your 2010 tax return extract along with 2010 financial statements.
- You must submit all of the specific documents listed in the RFB instructions. Only the specific documents listed in the Round 1 Recompete RFB instructions will be accepted. Substitute types of documents are not allowed (Round 1 Recompete RFB, pages 14–15).
A complete set of financial documents includes:
- three financial statements (income statement, balance sheet, and statement of cash flows),
- tax return extract, and
- credit report with numerical score.
Every financial statement must meet all requirements described in the Round 1 Recompete RFB instructions and be prepared in accordance with Generally Accepted Accounting Principles (GAAP) (Round 1 Recompete RFB, page 16).
If any one of your financial statements is missing any of the information listed in the Round 1 Recompete RFB instructions, your bid will be disqualified. Please review the Required Financial Documents by Business Type chart, the Hardcopy Document Package Checklist, and the Sample Financial Statements in the Round 1 Recompete RFB instructions. While not a requirement, we strongly recommend that you seek the help of an accounting professional for preparation and review of your financial statements.
- If you are bidding as a commonly owned and/or controlled supplier, you must submit a complete set of all required financial documents for EACH supplier (Round 1 Recompete RFB, page 18).
A complete set of required financial documents for each commonly owned and/or controlled supplier must be mailed in one package. For example, if you are bidding with five other companies that are commonly owned, you must submit six complete sets of required financial documents in one hardcopy package (one set for you and one for each of the other companies).
If you are a subsidiary of a parent company, and the subsidiary submits a tax return, you must submit the subsidiary’s financial documents. If the subsidiary does not submit a tax return, you must submit the parent company’s documents. If you submit some of the parent company’s documents and some of the subsidiary’s documents, your bid will be disqualified (Round 1 Recompete RFB, page 14).
- All financial statements must be at the same organizational level as the tax extract. For example, if your organization has different lines of business and you submit your tax return at the organizational level, not according to the product line, your financial statements must be at your organizational level (Round 1 Recompete RFB, page 15).
If you need to submit corrections to documents you have already submitted, please remember to include your bidder number on every page of the documents.
If you have any questions, please contact the CBIC customer service center at 877-577-5331 between 9 a.m. and 9 p.m. Eastern Time, Monday through Friday.
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