Federal Grant Closeout Checklist

Federal grant closeout runs on one firm deadline: under 2 CFR 200.344, a recipient must submit all final reports and pay all obligations no later than 120 calendar days after the period of performance ends, and a subrecipient has 90 days. Closeout then settles the final numbers, refunds and federally funded property, while audit and record duties continue.

Federal grant closeout deadlines at a glance

Step	Deadline	Rule
Submit all final reports	120 calendar days after the period of performance ends (subrecipients: 90)	2 CFR 200.344(b)
Liquidate obligations	Same 120 or 90 days	2 CFR 200.344(c)
Charge closeout costs	Until the due date of the final reports	2 CFR 200.472(b)
Agency completes closeout	Federal agency must make every effort within one year	2 CFR 200.344(h)
Keep records	Three years from the date you submit the final financial report	2 CFR 200.334

Section 200.344(b) allows extensions "When justified". At CDC, you send your Grants Management Specialist a letter explaining the delay and giving an expected submission date.

OMB proposed revisions to 2 CFR 200 in the Federal Register on May 29, 2026. A proposal does not change your award: follow the current text and your terms.

Before the end date: plan the last 120 days

Put the dates in writing. Enter the end date, the report due date and the last payment date in a funder calendar with report-due alerts.
Need more time for the work itself? Ask before the end date with a no-cost extension request, not after.
Budget the closeout work. Under 2 CFR 200.472(b), closeout administration, such as staff time on final reports and disposing of equipment, is allowable until the due date of the final reports, charged to the final budget period unless the agency says otherwise.
Liquidate means pay. Section 200.344(c) says you "must liquidate all financial obligations incurred under the Federal award," so chase invoices early.

The final reports agencies ask for

Your notice of award lists the reports you owe. CDC's closeout page is typical:

Final Federal Financial Report (SF-425): the government-wide financial report under 2 CFR 200.328. CDC says it shows unobligated balances and goes into the Payment Management System.
Final progress report: the content set by your NOFO, sent through GrantSolutions once CDC requests it.
Final Invention Statement (HHS 568): inventions conceived or first reduced to practice under the award.
Equipment inventory report: equipment with a unit acquisition cost of $10,000 or more, with the share of federal funds used.

Write the progress report against your application's promises and copy every figure from your accounts. Final report and budget vs actual templates keep the two aligned.

Unspent funds, equipment and supplies

Refunds: you "must promptly refund any unobligated funds" you are not authorized to keep (2 CFR 200.344(e)). Under 200.346, federal funds paid beyond what you are entitled to "constitute a debt to the Federal Government."
Equipment: under 2 CFR 200.313(e), unneeded equipment with a current fair market value of $10,000 or less per unit may be retained, sold or disposed of with no further responsibility. Above that, the Federal agency is entitled to its percentage share of the current market value or sale proceeds; on a sale, you may be allowed to keep $1,000 for selling and handling. Request disposition instructions if your terms require them.
Supplies: unused supplies worth more than $10,000 in total and not needed for another federal award may be retained or sold, and the funder is "entitled to compensation" for its share (2 CFR 200.314(a)).

What continues after closeout

Section 200.345 says closeout does not affect:

the funder's right to disallow costs and recover funds after a later audit or review, decided within the record retention period;
returning funds, or receiving them, after refunds, corrections or final indirect cost rate adjustments;
the audit requirements in subpart F, property rules and record retention.

Keep records for three years from the date you submit the final financial report, longer if litigation, claims or an audit started before then, and for property, three years after final disposition (200.334).

If you do not complete closeout, your funder "must proceed with closeout based on the information available" (200.344(a)), and the Federal agency must report a recipient's material failure to comply in SAM.gov using CPARS (200.344(i)). Before your next application with federal narrative, budget justification and final report templates, confirm the last award closed cleanly.

Closeout checklist

Every invoice paid and drawdowns reconciled to your accounts
Final SF-425 matching your ledger
Final progress report, invention statement and equipment inventory, if required
Unobligated cash refunded and disposition instructions requested
Records archived with a keep-until date

Closeout is also a good moment to refresh your grant essentials, from budgets to logic models.

The Grant Report Kit's Essentials_GrantReport_Final_Report_TEMPLATE.docx compares what you promised with what you delivered, and its Budget vs Actual workbook flags each line that goes over budget.

General information: this article is general information, not legal, tax or fundraising advice. No template can guarantee funding. Always follow each funder's own guidelines.

The Funder File is not affiliated with, endorsed by or connected to the Office of Management and Budget, the Centers for Disease Control and Prevention, the Department of Health and Human Services, SAM.gov, CPARS, GrantSolutions or the Payment Management System.

Sources

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Federal Grant Closeout Checklist: Final Reports, Refunds and Records in 120 Days