Annual Compliance Reporting for Tax Credit Properties
Federal law requires state allocating agencies to monitor compliance with provisions of Section 42 of the Internal Revenue Code (26 U.S.C. § 42). In addition, federal law requires allocating agencies to provide a procedure the agency will follow in monitoring for noncompliance and to inform tax credit recipients of procedures and requirements. For complete Housing Credit compliance guidance, refer to the Housing Credit Compliance Manual.
A simplified annual compliance reporting checklist and basic submission instructions are included below.
The annual Owner’s Certification of Continuing Compliance and Tenant Income Certification forms are available in the Certification Portal. The portal is a web-based database input system that allows for comprehensive compliance information submission, monitoring and reporting for properties that are required to comply with Housing Credit and Multifamily Loan guidelines. Please contact the compliance staff to obtain login access to CP, or for other CP questions.
Montana Housing will email and/or mail the remaining forms – Property Contact, Income and Expense Summary and Reserves – to tax credit recipients directly, with additional submission instructions.
Please submit the following items electronically via the Certification Portal:
- Annual Owner’s Certification of Continuing Compliance for the assigned compliance period
- Tenant Income Certifications
- Annual Owner’s Certification of Continuing Compliance for the above compliance period, which must be signed by the owner and notarized
- Copy of Low Income Housing Tax Credit and Fair Housing Certifications, dated within the last four years, for all staff members
- Property Contact Form, even if there are no changes
- Income and Expense Summary form for the last fiscal year
- Reserves form
Form:
Links:
SUBMIT PAYMENT
Submit annual Compliance Fees by clicking the above button, clicking on the Submit Payment button under Compliance Fees, logging in and selecting annual compliance fee from the drop-down menu.
Please contact the compliance staff for questions or login access to CP.
MF Loan Annual Compliance Reporting
A simplified annual compliance reporting checklist and basic submission instructions are included below.
The Annual Owner’s Certification of Continuing Compliance and Tenant Income Certifications forms are available in Certification Portal.
Please contact the compliance staff to obtain login access to CP, or for other CP questions.
Montana Housing will email and/or mail the remaining forms - Property Contact and Income and Expense Summary - to tax credit recipients directly, with additional submission instructions.
Please submit the following items electronically via the Certification Portal:
- Annual Owner’s Certification of Continuing Compliance for the assigned compliance period
- Tenant Income Certifications
- Annual Owner’s Certification of Continuing Compliance for the assigned compliance period, which must be signed by the owner and notarized
- Copy of Low Income Housing Tax Credit and Fair Housing Certifications, dated within the last four years, for all staff members
- Property Contact Form, even if there are no changes
- Income and Expense Summary form for the last fiscal year
- Reserves Form
Form:
The Certification Portal is a web-based database input system that allows for comprehensive compliance information submission, monitoring and reporting for properties that are required to comply with Housing Credit and Multifamily Loan guidelines.
Please contact the compliance staff for questions or login access to CP.