How to Fax Financial Statements — Secure Financial Document Transmission
Balance sheets, income statements, and cash flow statements are what lenders, investors, and regulators read to judge an organization's financial health. Banks and commercial lenders ask for them as part of loan covenant compliance, credit reviews, and new credit applications, and fax stays common because it produces a delivery timestamp that becomes part of the credit file in a form bank examiners recognize. CFOs and accountants fax these packages when a lender needs period-end results promptly or when a covenant sets a hard submission date. Late delivery can trip a technical default even when the underlying numbers are strong, so the fax confirmation documents that the package arrived on time.
How to Fax a Financial Statements
- 1Prepare the financial statements for the period specified by the requesting party — confirm whether internally prepared, CPA-compiled, reviewed, or audited statements are required
- 2Include all three primary statements (balance sheet, income statement, and cash flow statement) unless the recipient has specified otherwise
- 3Attach the accountant's compilation letter or auditor's report if the statements were prepared or audited by a CPA — these opinions are part of the financial statement package and cannot be omitted
- 4Ensure the statements are dated with the period end date and the date of preparation or issuance on the first page
- 5Verify the lender's or investor's official financial statement submission fax number from their formal credit correspondence
- 6Log in to Send FAX Mail, upload the complete financial statement package, and save the delivery confirmation as part of the credit file
Document Format
Financial statement line items must use consistent, recognizable account descriptions — unusual or unexplained line items will generate lender questions. Dollar amounts in financial statements must be labeled with the scale (in thousands, in millions) or presented at full value consistently throughout. For multi-year comparative statements, ensure both periods are clearly labeled. The entity name and period dates must appear on every page. If statements span many pages due to footnotes, number all pages and include a table of contents.
Legal Considerations
Financial statements submitted to lenders as part of a loan covenant compliance requirement are representations of material fact — submitting false or misleading financial statements to a federally insured bank violates 18 U.S.C. § 1014 and can result in criminal prosecution. CPA-prepared financial statements (compiled, reviewed, or audited) must comply with AICPA standards or PCAOB standards for public companies. If financial statements are part of a securities offering, additional SEC and state blue sky regulations govern what disclosures must accompany them.
Industries That Fax This Document
Faxing a Financial Statements — FAQ
Many community banks and credit unions never fully rolled out document portals for covenant packages, so fax fits their existing workflow. The transmission record then sits in the credit file in a format examiners accept during bank examinations. It also gives both sides a clean delivery timestamp.
Commercial loan covenants commonly require annual statements within 90 to 120 days of fiscal year-end and quarterly statements within 45 to 60 days of quarter-end. Check your specific covenant language, because late delivery can be a technical default even if your finances are sound.
Yes. When you are shopping the same financials to competing lenders, you can fax each one and get a separate delivery confirmation per recipient. Those timestamps help you track which lender received the package and when as you manage response deadlines.
A package of three statements plus footnotes and the accountant's letter usually runs 10 to 30 pages. The Starter plan at $12.99/month covers 600 pages, enough for quarterly submissions to several lenders across a year. A CFO sending high-volume covenant packages moves up to the Professional plan rather than paying per page, and a 7-day free trial lets you send a test package before subscribing.
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