CHFA eNews: Multifamily in this enews Change in Assignments for Multifamily Program Compliance Officers Reminder: Annual Submissions are Due! December 31, 2015 change in assignments for multifamily program compliance officers Effective January 1, 2016, some property assignments will change for CHFA’s Multifamily Program Compliance Officers. If your property has been reassigned, the new PCO assigned to monitor it will contact you directly to let you know. reminder: annual submissions are due!As a reminder, 2015/2016 annual LIHTC, CHFA loan, and RTC submissions are due as follows. Owner certification forms can be accessed on CHFA's website. For all Properties (excluding Project-based Section 8 and Mod Rehab) Occupancy and Demographic information as of December 31, 2015, must be submitted in WCMS. Due January 15, 2016 For Properties with Loans Owner Certification of Continuing Loan Compliance (Must be signed by Owner) *January 1 through December 31, 2015 Due January 15, 2016 Operating Budget Due 60 days prior to the beginning of next fiscal year Audited Financial Statements Due 90 days after the fiscal year end IRS Form 8703 for Calendar Year 2015 *Applicable if development has a CHFA loan with PAB/tax exempt financing Due to the IRS April 15, 2016, with a copy to CHFA by April 30, 2016 For Properties with Low Income Housing Tax Credits LIHTC Owner Certification of Continuing Program Compliance (For properties within the initial 15-year compliance period) (Must be signed by Owner) *January 1 through December 31, 2015 Due January 15, 2016 LIHTC Post Year 15 Owner Certification of Continuing Program Compliance, if applicable (For properties that are past the initial 15-year compliance period) (Must be signed by Owner) *January 1 through December 31, 2015 Due January 15, 2016 Monitoring Fees *Post Year-15 only ($25/unit or a maximum of $2,500/year) Due January 15, 2016 For RTC properties Owner Certification of Continuing Compliance (Must be signed by Owner) *January 1 through December 31, 2015 Due January 15, 2016 Compliance Report - Part A&B for the month of December 31, 2015 Due January 15, 2016 Annual monitoring fee of $50 per RTC unit Due January 15, 2016 Please note that most tax exempt organizations are required to file an annual Form 990 “Return of Organization Exempt from Income Tax” with the IRS. If an organization fails to file an annual or submit a notice as required for three consecutive years, it will automatically lose its tax exempt status. You may access online the IRS instructions and the Form 990 at www.irs.gov in the Forms & Publications section.
