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

Key Reference

Detailed information about Subawards