What is a Financial Size Declaration?

A Financial Size Declaration is a formal statement of a firm’s fiscal metrics used by procuring agencies to determine size status for set-asides and eligibility. It typically includes revenue, assets, and employee counts and may require supporting financial schedules or certified statements.

Who has authority to sign the declaration?

An authorized officer or other individual named in a corporate resolution, partnership agreement, or power of attorney should sign. The contracting agency may request proof of authority such as a board resolution or officer certificate to verify the signer’s capacity.

Can the declaration be signed electronically?

Yes in most cases: electronic signatures generally satisfy the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted, provided the transaction meets intent, consent, attribution, and retention requirements. Confirm agency rules for any notarized or court-mandated exceptions.

What are penalties for providing false information?

False or misleading declarations can lead to contract remedies, suspension or debarment, civil liability such as False Claims Act exposure, and potential criminal prosecution in cases of intentional fraud. Agencies may also seek repayment or damages.

Is notarization or witnessing required?

Requirements vary by state and agency. Some solicitations request notarized affidavits; others accept unsigned electronic attestations. If notarization is required, remote online notarization (RON) may be accepted where state law permits and agency rules allow.

How long must I keep supporting records?

Retain the declaration and supporting financial records for auditing and litigation risk periods: generally at least three years under IRS rules (IRC §6501(a)), and longer where contract or state law requires or in regulated industries such as healthcare.

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Finance
Financial Size Declaration

Financial Size Declaration

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FINANCIAL SIZE DECLARATION

This Financial Size Declaration must be completed by the entity submitting a bid, proposal, or request for qualification. The declarant shall provide complete and accurate financial data for the most recent three completed fiscal years and disclose all affiliates, subsidiaries, and parent organizations whose financial and employee data are attributable to the size determination. Incomplete or false information may result in disqualification or other administrative remedies.

1. Firm Identification

Firm Legal Name Doing Business As (DBA) / Trade Name Primary Business Address

Telephone: Email:

Tax Identification Number / EIN:

Company Registration Number (if applicable):

2. Fiscal Year and Reporting Periods

Fiscal Year End: Month Day Year

Provide data for the three most recent completed fiscal years. Enter figures in whole dollars and full-time equivalent employees.

3. Financial Data

Fiscal Year	Gross Receipts / Revenue (whole dollars)	Number of Employees (FTE)

Method of Calculation for Employee Count

4. Affiliations, Subsidiaries, and Parent Concerns

Is the firm a subsidiary, affiliate, or owned in whole or part by another concern? Yes No

If yes, list all affiliates, parent companies, and subsidiaries with ownership percentage and a brief description of the relationship

Combined annual receipts attributable to the combined concern (most recent fiscal year): $

5. Entity Type and Certifications

Entity Type (check all that apply):

Corporation Limited Liability Company (LLC) Partnership Sole Proprietor Nonprofit/Tax-Exempt Other:

Supporting Documents Provided (check all that apply)

Most recent fiscal year-end financial statements Federal/state tax returns (past three years) Payroll summaries (past three years) Other:

6. Affirmation and Legal Certification

The undersigned, being an authorized representative of the firm named above, certifies that the information provided in this Financial Size Declaration is true, complete, and accurate to the best of his or her knowledge. The signer further certifies that all affiliates, subsidiaries, and parent concerns have been disclosed and that financial and employee figures include amounts attributable to those concerns where applicable.

The signer acknowledges that the information provided may be relied upon in determining eligibility for contracting, bidding, or program participation. The signer understands that intentional misrepresentation, omission, or falsification of material facts may result in administrative sanctions including rejection of proposals, termination of contracts, debarment, civil liabilities, and criminal penalties under applicable law.

The firm agrees to provide, upon request, complete supporting documentation and to promptly notify the requesting entity of any material changes to the information provided in this declaration.

7. Additional Remarks

Authorized Representative (Print Name):

By (Signature):

Date:

Title: Contact Phone: Contact Email:

What a Financial Size Declaration Is and When It Matters

A Financial Size Declaration is a formal statement a business provides to report fiscal measures—commonly annual gross receipts, total assets, net worth and employee counts—when responding to solicitations, grant applications, or agency surveys. Procurement officers and grant administrators use the declaration to evaluate size status, set-aside eligibility, and compliance with procurement size standards. The form often requires supporting schedules and certified financial statements. Accurate, contemporaneous figures preserve eligibility and reduce the risk of administrative challenges, audits, or corrective actions by the contracting authority.

Why an Accurate Declaration Matters to Procurement Outcomes

Submitting a clear Financial Size Declaration supports correct small-business determinations, minimizes bid protests, helps ensure proper bonding and subcontracting commitments, and creates an auditable record for contracting officers and auditors.

Who Completes or Requests a Financial Size Declaration

Typical users and stakeholders who complete or request a Financial Size Declaration include procurement officers, business owners, and compliance teams during solicitation and award processes.

Small business owners providing size data for SBA or agency set-aside determinations.
Prime contractors and subcontractors verifying size for subcontracting goals and flow-downs.
Government contracting officers reviewing proposals and performing size status evaluations.

Confirming the signatory’s authority and keeping supporting financial records are common follow-up responsibilities after submitting a declaration.

Step-by-Step: Prepare, Verify, and Submit

Follow these sequential steps to prepare, verify, and submit a Financial Size Declaration accurately and defensibly to contracting agencies.

01

Prepare Financials: Gather income statement, balance sheet, and payroll reports.
02

Complete Declaration: Enter requested metrics, dates, and supporting schedules.
03

Attach Documentation: Upload certified financials or accountant letters as required.
04

Submit and Retain: Send to procuring office and keep record copies.

Typical Submission Workflow from Entry to Determination

A typical submission workflow moves from data entry through verification to agency review and final size determination; each step creates an audit trail for recordkeeping and potential follow-up.

Upload: Attach completed declaration and supporting files for review.
Notify: System or email notification is sent to the contracting officer.
Review: Agency validates figures and may request clarifications or additional documents.
Determination: Contracting officer issues size status and records the decision in the acquisition file.

Recommended Online Workflow Settings for eSubmission

Configure your online workflow to match procurement requirements: authentication, required attachments, routing order, and retention settings before submission.

Field	Configuration
Authentication	Email link with optional SMS code or KBA
File types	PDF, DOCX accepted; PDF preferred for final submission
Routing Order	Sequential signer order with reviewer and contracting officer steps
Notifications	Automated email copies to signers and procurement contacts

Platform Capabilities to Support Electronic Declarations

Ensure the eSubmission platform supports secure upload, tamper-evident audit trails, strong authentication, and required retention features for procurement compliance.

Integrations: Salesforce, NetSuite, Google Workspace supported
File formats: PDF, DOCX, XLSX accepted
Security / Compliance: AES-256 at rest, TLS 1.2/1.3

Core Elements of a Professional Financial Size Declaration

A professional Financial Size Declaration combines a clear attestation, specific numeric disclosures, and verifiable schedules so agencies can quickly assess eligibility and begin verification procedures.

Certification Statement

A signed attestation by an authorized officer declaring that the reported figures are true, complete, and accurate under penalty of law; it should mirror agency-required language.

Financial Metrics

Explicit fields for annual gross receipts, total assets, net worth, and employee count with currency and fiscal year references to ensure comparability across submissions.

Accounting Method

Declare whether figures use cash or accrual accounting and note consolidation, parent-subsidiary treatment, or any adjustments that materially affect the size calculation.

Supporting Schedules

Attach balance sheet, profit and loss, and footnotes or accountant-prepared schedules that substantiate the declared metrics and make verification straightforward.

Signature Block

Include printed name, title, date, contact information, and a statement of signatory authority tied to corporate resolution or authorization documentation.

Verification Clause

Include consent for agency verification, identify a contact for follow-up, and disclose whether third-party verification reports or audited statements are provided.

Required Fields and Short Data Checklist

Legal Name: Full legal name as on tax records.

Tax ID: EIN or TIN in nine-digit format.

Fiscal Date: Fiscal year end as MM/DD/YYYY.

Annual Receipts: Total gross receipts for reporting year.

Total Assets: Balance-sheet total assets in USD.

Employee Count: Average number of employees reported.

Penalties and Risks from Incorrect or False Declarations

Contract Remedies: Rescission, price adjustments, or termination for breach or misrepresentation.

Administrative Sanctions: Suspension or debarment from future contracts.

Civil Liability: Potential claims under False Claims Act or related statutes.

Financial Penalties: Fines, repayment obligations, or withholding of payments.

Tax Consequences: Incorrect reporting can affect tax filings and penalties.

Audit Exposure: Increased scrutiny and extended audits by agencies.

Key Deadlines and Timing Considerations

Common deadlines include solicitation submission dates, post-award verification windows, and periodic recertification requirements tied to contract milestones or agency policy.

Proposal Submission Deadline:

Submit the declaration with the proposal by the solicitation due date.

Post-Award Verification:

Contracting officer typically requests verification within 30 days of award.

Annual Updates:

Some contracts require yearly recertification or reporting on the anniversary date.

Audit Response Window:

Respond to audit or clarification requests within 10–30 days as requested.

Record Retention Trigger:

Retain supporting records for the duration of audits and litigation exposure.

eSignature Vendor Comparison for Financial Size Declaration Workflows

Typical capability and pricing comparisons for providers used to gather and sign Financial Size Declarations; signNow appears first as the first column per guidance and pricing reflects common per-user or per-invite models.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by plan	Varies by plan	Varies by plan	Varies by plan
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Frequently Asked Questions About Financial Size Declarations

Answers to common questions about completion, signing, retention, and legal effect of Financial Size Declarations for U.S. procurements and grants.

Need help? Contact support

What is a Financial Size Declaration?
A Financial Size Declaration is a formal statement of a firm’s fiscal metrics used by procuring agencies to determine size status for set-asides and eligibility. It typically includes revenue, assets, and employee counts and may require supporting financial schedules or certified statements.
Who has authority to sign the declaration?
An authorized officer or other individual named in a corporate resolution, partnership agreement, or power of attorney should sign. The contracting agency may request proof of authority such as a board resolution or officer certificate to verify the signer’s capacity.
Can the declaration be signed electronically?
Yes in most cases: electronic signatures generally satisfy the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted, provided the transaction meets intent, consent, attribution, and retention requirements. Confirm agency rules for any notarized or court-mandated exceptions.
What are penalties for providing false information?
False or misleading declarations can lead to contract remedies, suspension or debarment, civil liability such as False Claims Act exposure, and potential criminal prosecution in cases of intentional fraud. Agencies may also seek repayment or damages.
Is notarization or witnessing required?
Requirements vary by state and agency. Some solicitations request notarized affidavits; others accept unsigned electronic attestations. If notarization is required, remote online notarization (RON) may be accepted where state law permits and agency rules allow.
How long must I keep supporting records?
Retain the declaration and supporting financial records for auditing and litigation risk periods: generally at least three years under IRS rules (IRC §6501(a)), and longer where contract or state law requires or in regulated industries such as healthcare.

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