Grandfathered privately held and/or grandfathered foreign owned taxpayers must provide audited U.S. GAAP financial statements on an annual basis and unaudited U.S. GAAP financial statements on a quarterly basis to be eligible for the CAP Program. The disclosures presented in the notes of the quarterly and annual financial statements must fulfill the same requirements as in SEC reporting to be eligible for the CAP Program.
Sources:
Rev. Proc. 2022-17
Rev. Proc. 2021-9
