Closeout of Subawards

Objective: MIT will not close out a prime award until all subawards issued under the prime award have been closed out.

  • Subawards must be processed for closeout and formally closed on a timely basis
  • Subaward administrators should begin closeout actions immediately following the expiration of the subaward performance period
  • Subawards will only be considered formally closed when all applicable closeout requirements have been accomplished

Learn more: Subawards, Research Subawards Team (RST) Policies and Procedures

In Summary

Subaward closeout requirements:

  1. Verification with MIT technical representative of the following:
    • Deliverable items/services have been delivered/performed
    • Inventions or discoveries report from MIT principal investigator (PI)
    • Residual property – property remaining at subaward facility
  2. Items provided by subawardee
    • Reports of patents, inventions, or discoveries
    • Report of residual property
    • Subcontractor’s release forms, where applicable
    • Final certified cumulative invoice statement
  3. Closeout cost, "prospective price" and audit of subaward
  4. Closeout of level of effort, time, and material, and fixed-price subawards
  5. Interim subaward change order/amendment to deduct/add funds
  6. Subaward closeout processing
  7. Final invoice processing and payment
  8. Final amendment