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Tax Credit Compliance Reports

UPDATES & NOTICES

• 2011 Tax Credit Annual Compliance Report request letters and CCPC Part A sent 12/9/2011 to property managers with copy to the owner
• 2011 Tax Credit Annual Reports: Due 01/31/2012
  Web Based Annual Reporting System (WBARS)
  for 2011 Tax Credit and Combined Funder Annual Reports
• DUE: January 31 Tax Credit (CCPC) Part A
• DUE: January 31 CCPC Table 1 (Part B) 2011
  Table 1 report will be submitted using WBARS.
• DUE: June 30 Table 4  2010 Table 4 report must be submitted using WBARS.
• DUE: January 31 (if applicable) Vacancy Report
• DUE: January 31 (if applicable) Farm Work Move-In Report
• DUE: January 31 (if applicable) Homeless/Transitional Report
• DUE: (Upon Request) Copies of Commission required Tax Forms  IRS Form Information

CERTIFICATE OF CONTINUING PROJECT COMPLIANCE (CCPC) PART A

Purpose: An owners certification that this tax credit project is in compliance with its Regulatory Agreement. This reporting form is due on January 31st for the previous year.  This report is sent to owners each year with numbers generated from our database.  Owners answer a series of questions regarding their property and must provide an original signed copy with their annual report.  Contact the Portfolio Analyst assigned to your property if you need a copy of this reporting form: Portfolio Analyst Assignment List 

CCPC TABLE 1

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 2011 Table 1 will be submitted using the new Web Based Annual Reporting System (WBARS). *
Helpful Links: Commission Portfolio Analyst Assignment List | Utility Allowances Information 

* Properties with other funders should check their other funders' websites for additional required documentation and/or additional deadlines. The following public funders are currently participating in WBARS for Combined Funder Annual Reporting: State of Washington Department of Commerce Housing Division; City of Seattle Office of Housing, City of Tacoma CEDD, Housing Development Division, King County Housing and Community Development; and Snohomish County OHHCD.

TABLE 4 INCOME & EXPENSE REPORT

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 2011 Table 4 will be submitted using the new Web Based Annual Reporting System (WBARS). *

* Properties with other funders should check their other funders' websites for additional required documentation and/or additional deadlines.  The following public funders are currently participating in WBARS for Combined Funder Annual Reporting: State of Washington Department of Commerce Housing Division; City of Seattle Office of Housing, City of Tacoma CEDD, Housing Development Division, King County Housing and Community Development; and Snohomish County OHHCD.

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 Vacancy Report must be submitted with the annual report (Part B/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 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.
Vacancy Report (PDF) (Word) Rev 01/03/2006
Instructions (PDF) Rev 01/23/2006

FARMWORKER MOVE-IN REPORT

Purpose: Properties who provide Commission Farmworker Commitment units need to complete this form for every qualified household that moves-in during the calendar year. Most of the information needed to complete this report can be found on the Household Initial Certification and Instructions form that is completed when a new Household moves-in to the property. This report will provide the Commission with information about the population served by the Commitment and their occupation. The report for the previous calendar year is due January 31 and the completed Excel Spreadsheet file should be emailed to compreport@wshfc.org per instructions. 
Move-In Report (Excel) Rev 06/30/06
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

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.

01/06/2012