Section 74.21 - What are the ways a business may exit VIP Verification Program status?A participant may:
(a) Voluntarily cancel its status by submitting a written request to CVE requesting that the concern be removed from public listing in the VIP database; or(b) Delete its record entirely from the VIP database; or(c) CVE may remove a participant immediately pursuant to § 74.2 ; or(d) CVE may remove a participant from public listing in the VIP database for good cause upon formal notice to the participant in accordance with § 74.22 . Examples of good cause include, but are not limited to, the following:(1) Submission of false information in the participant's VIP Verification application.(2) Failure by the participant to maintain its eligibility for program participation.(3) Failure by the participant for any reason, including the death of an individual upon whom eligibility was based, to maintain ownership, management, and control by veterans, service-disabled veterans, or surviving spouses.(4) Failure by the concern to disclose to CVE the extent to which non-veteran persons or firms participate in the management of the participant.(5) Failure to make required submissions or responses to CVE or its agents, including a failure to make available financial statements, requested tax returns, reports, information requested by CVE or VA's Office of Inspector General, or other requested information or data within 30 days of the date of request.(6) Cessation of the participant's business operations.(7) Failure by the concern to provide an updated VA Form 0877 within 30 days of any change in ownership, except as provided in § 74.3(f)(3) .(8) Failure to inform CVE of any such changed circumstances, as outlined in paragraphs (c) and (d) of this section.(9) Failure by the concern to obtain and keep current any and all required permits, licenses, and charters, including suspension or revocation of any professional license required to operate the business.(e) The examples of good cause listed in paragraph (d) of this section are intended to be illustrative only. Other grounds for canceling a participant's verified status include any other cause of so serious or compelling a nature that it affects the present responsibility of the participant.83 FR 48232, Sept. 24, 2018