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Tax Credit Compliance Reports
PROCEDURES FOR JANUARY 2024 SUBMISSIONS
* Please clear browser history before clicking on the links below to ensure access to the most current version of these documents.
Click here for รจ SUBMISSION INSTRUCTIONS Rev. 12/15/2023
Report Types by Property Name List (PDF) or (Excel) Rev. 05/01/2024
Owner's Annual Certification (PDF) Rev. 12/15/2023
Regular Annual Report Rev. 12/15/2023
On-Site Year Report Rev. 12/15/2023
Post Year 15/Re-Cert Waiver Report Rev. 12/15/2023
TABLE 1 - TENANT ACTIVITY
Purpose: A summary report of rental activity in every low-income unit during the calendar year. Table 1 is completed annually and due January 31st for the previous year.
The Table 1 Report is submitted annually via the
Web Based Annual Reporting System (WBARS). *
Helpful Links: Commission Portfolio Analyst Assignment List |
Utility Allowances Information
EXTENDED VACANCY / RENT-READY REPORT
Note: Effective with 2024 annual report submissions in January 2025, the Extended Vacancy/Rent-Ready Report is now in WBARS as Table 5. This report will be a required submission when any unit vacancy period exceeds 30 days at a property. WBARS will prepopulate Table 5 with all unit records which meet the vacancy criteria (from Table 1); users will need to enter rent-ready dates and provide detailed explanations for extended vacancies in the Comments sections provided in each record.
SPECIAL NEEDS VACANCY REPORT
Purpose: This report is used at properties with special-needs set-aside or
farm work commitment units to assist the Commission in determining if you are
marketing and holding these units properly. This Special-Needs Vacancy Report must be
submitted with the annual report (Table 1) and is due on January 31st if
the special-need set-aside or farm work commitment has NOT been met at the end
of the previous year. The Special-Needs Vacancy Report can only be used after the units have
been initially rented to special-needs or Farm Work commitment households and
the units are now vacant.
Special-Needs Vacancy Report (PDF) (Word) Rev
12/24/2020
Instructions (PDF) Rev
12/24/2020
FARMWORKER MOVE-IN REPORT
Purpose: Properties who provide Commission Farmworker Commitment units are required to complete this form and include the requested information for all qualified household that moved-in during the calendar year. Most of the information needed to complete this report can be found on the Farmworker Household Initial Certification form completed when a qualifying Household moves in to the property. This report will provide the Commission with information about the population served by the Commitment and their occupations. The report for the previous calendar year is due January 31 and the completed Excel Spreadsheet file should be mailed in with all other Annual Report documents.
Move-In Report (Excel) Rev 12/2013 Excel workbook includes spreadsheet and complete instructions.HOMELESS / TRANSITIONAL REPORT
Purpose: This report is used by properties with transitional housing or permanent housing for the homeless set-aside commitments in their Commission Tax Credit Regulatory Agreement. Properties with these commitments will use this report to confirm whether or not services are being provided for these households. This report is due on January 31st for the previous year. A printed copy of this report on agency letterhead should be provided with the annual report. An enterable report form and a sample report form are provided below. Owners may have service provider(s) fill out this report, or provide a similar report from the service agency as long as all requested information is included. Any household initially qualifying as homeless counts toward the Homeless Set-Aside Commitment for as long as the household remains in the project. We request this information in order to gather statistics on who is benefiting from and using supportive services in conjunction with housing. Homeless/Transitional Report (PDF) (Word) Rev 08/2007 Sample (PDF) Rev 08/2007
AVERAGE INCOME TEST WORKSHEET
Purpose: To confirm that the property met the Average Income test for
the previous calendar year and also confirm the minimum Bond set-aside is met
for 4% Income Averaging projects. To be used only by projects with the
Income Averaging federal election. This form should be filled out and
submitted electronically every January along with the project's annual report
materials.
Average Income Test Worksheet (Excel) Rev. February 2023
TABLE 4 - INCOME AND EXPENSES
Purpose: Table 4 information will be used as an additional resource for the Commission in the underwriting process. Table 4 is completed annually and is due on or before June 30 for the previous year.
The Table 4 report is submitted annually via the
Web Based Annual Reporting System (WBARS).
Properties with other funders should check their other funders' websites
for additional required documentation and/or additional deadlines.
IRS FORM INFORMATION
The Asset Management and Compliance Division requests completed copies of these forms which are filed with the ownership's tax return (except the 8823). Blank versions of IRS forms listed below can be viewed at the IRS website by clicking on "Forms and Publications".
8609
Low-Income Housing Credit Allocation Certification 8609. The Commission issues one form for each building in a project after the building has placed in service and when all allocation and placed in service requirements have been met. Commission completes the top portion. Ownership completes the bottom portion of this form the first year credits are taken. Ownership files this completed form with the Schedule A and the 8586 mentioned below. Commission requests completed copies of Form 8609 the first year tax credits are taken in each building.
8609 (Schedule A)
Statement attached to each 8609 form submitted to the IRS. This form shows the actual amount of credit taken for the specified building during the specified year. Commission requests completed copies of Form 8609 and Schedule A the first year tax credits are taken in each building.
8586
Low-Income Housing Credit Attachment. One form is filed to the IRS annually while credit is being claimed. Form shows the amount of credit claimed for the entire project during the specified year. Commission requests completed copy of Form 8586 the first year tax credits are taken in each project.
8823
Form filed by Commission to report owner's noncompliance with the tax credit program.
12/09/2024