For Section 1071, reporting institutions can rely on information provided by the applicant regarding a business’ Gross Annual Revenue (GAR) for its preceding fiscal year. If the amount is later updated or otherwise verified prior to taking action on the application, however, the updated or verified amount must be reported. Ultimately, whatever is considered the most accurate information must be reported.
Based on the most recent Filing Instructions Guide from the CFPB, reporting institutions will use the following codes to indicate whether they have an applicant’s GAR:
Code 900: Provided
Code 988: Not provided by applicant and otherwise undetermined
If provided (Code 900), the unrounded GAR is reported in the appropriate field.
Published 2026/10/12