The process of settlement and redemption of subsidies for micro-enterprises and SMEs under the PFR 2.0 Financial Shield has started

Settlement of subsidies from the PFR 2.0 Financial Shield

The Polish Development Fund (PFR) begins the process of settling and exempting from the obligation to return subsidies for micro and small and medium-sized enterprises (SMEs) under the PFR 2.0 Financial Shield. Companies that meet certain requirements can count on 100% redemption.

Entrepreneurs settle the subsidy through electronic banking system at the same bank where they submitted the application for support. They will pay the subsidy on a different account than in the case of the PFR 1.0 Financial Shield, and the application forms will not contain a preliminary settlement amount.


Detailed rules for the complaint procedure can be found on the Polish Development Fund websitelink opens in a new window, where you can also find answers to the most frequently asked questionslink opens in a new window

Scheduled training and information


In November, information training on the redemption process will begin. Training details and dates will also be available on the PFR website. If you have any questions or concerns, you can also call the PFR helpline on +22 703 43 00 (from Monday to Friday from 8.00 to 17.00, fee according to the operator's price list).

Settlement rules

Settlement rules for micro-companies

The total remission of the financial subsidy will be granted to micro-companies which jointly meet the following conditions:

  • uninterrupted maintenance of business activity until December 31, 2021.
  • and maintaining the average level of employment in 2021 compared to the number of employees for which they received the subsidy.

PFR will check these conditions automatically on the basis of data from ZUS, so the entrepreneur doesn't need to attach any documents or certificates to the application.

The form of the statement of settlement for micro-companies contains the account number to which the entrepreneur can pay money from the subsidy, if they want to return it before the decision is issued by PFR. The repayments made by the micro-company before the date of the PFR decision reduce the balance of the subsidy to be canceled.

Settlement rules for SMEs

The full remission of the financial subsidy will be awarded to SMEs which jointly meet the following conditions:

  • uninterrupted maintenance of business activity until 31 December 2021
  • and settlement of the surplus of financial subsidy received.

In the subsidy application, entrepreneurs generally forecasted revenues and fixed costs for the period from 1 November 2020 to 31 March 2021. Therefore, in order to settle the subsidy, they must provide the actual fixed costs and the amount of revenues for this period. A special calculator will be helpful in calculating this difference, which can be used in the settlement form. The beneficiary must check whether there is a surplus between the amount of the subsidy calculated on the basis of the expected value of fixed costs and the amount of decrease in revenues, and the subsidy they would have received based on the amount of actual fixed costs and the actual amount of decrease in revenues. If there is a surplus, the beneficiary will have to return it by 15 March 2022 to the individual account indicated in the confirmation of declaration.

Moreover, in order to correctly settle the subsidy, entrepreneurs will have to attach to the form a declaration on the settlement of JPK files in the form of xml generated from the company's accounting program (a different format will not be accepted). Depending on the accounting, these will be JPK_PKPIR or JPK_KR files. Separate files should be prepared for the period November-December 2020 and January-March 2021.

Please note that the amount indicated in the statement of settlement does not have to equal the amount that will be refunded to the PFR. If the entrepreneur has partially repaid the subsidy before the deadline for submitting the statement of settlement, they should reduce the amount indicated in the statement by the value of all returns made under the PFR 2.0 Financial Shield.

Required statements and details

  • Companies that did not provide correct documents on the authorization when applying for a subsidy, will find an additional field in the forms, the so-called retrospective statement. By checking them, they will certify that they were authorized to submit an application for a subsidy. In addition to submitting this declaration, they must provide the bank with documents confirming the authorization within 14 days.
  • Companies will have to confirm in the form that they have made an entry in the Central Register of Real Beneficiaries (CRBP), if they have not done so before.
  • PKD codes, which the beneficiary enters in the form, are purely descriptive. Beneficiary should provide the company's leading PKD code. It does not have to be related to the list of 54 PKD codes which conditioned participation in the program.

The regulations and the necessary information about the subsidy settlement and redemption process are available at www.pfr.pl.

Worth to know

An appeal may be submitted, if the application has been rejected or a lower financial subsidy has been granted than the one requested, but also when the entrepreneur received the entire amount requested, but the circumstances indicate that his request could have been higher. Appeal applications will be available from 1 February to 31 March 2021.

If you receive a positive decision on granting support in the amount lower than the one requested, you will receive by transfer to the given bank account the amount indicated in the PFR decision, and for the remainder you can submit an appeal after clarifying the reservations listed in the PFR decision. You can submit an appeal only twice.

If you receive a negative decision, you can submit your application again. Remember to clarify in advance the reasons behind the rejection of the application and check the correctness of the data. If you updated details for ZUS/US (Social Insurance/Tax Office) please wait 7 business days before submitting the appeal.

Role of the Bank

  • We will inform you about the possibility of submitting an application and the rules for applying for subsidies

  • You can conveniently submit the application via Millenet online banking by filling out a simple form and attaching the necessary documents

  • You can also check the status of the application or make a possible appeal through Millenet