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Guide for Completing Form 8823 - page 62 / 197





62 / 197

  • 1.

    Application/Income and Asset Questionnaire - A document completed by the household that the owner uses to gather information relevant to establishing all aspects of eligibility including, but not limited to, household composition, income, income from assets, and student status.

  • 2.

    Verification of Income and Assets - All sources of income and assets must be verified to establish move-in eligibility.46 Each tenant file must contain an annual statement of income, household composition, and student status.

The preferred verification method is through third parties, and such verifications must be no older than 120 days before the effective date of the Tenant Income Certification. *Verification may be written documentation (mail), oral (telephone), or electronic (facsimile, e-mail, or Internet).* Where applicable, there should be further evidence to support the third party verifications; e.g., a copy of a divorce decree showing award of maintenance or child support, a realtor's statement of market value for a home, a self-employed tenant's tax return, etc. When third party verification has been *delayed or* attempted, but is not possible, documentation may be by check stubs, W-2’s, bank statements, etc. Self-certification *(notarized statement or signed affidavit)* may be accepted if third party verification or other documentation cannot be obtained. Documentation of attempts to obtain verification, however, must be kept on file.


Student Status - Depending upon the student status of each household member, student verification may be required. (See chapter 17 for more information.)

4. Tenant Income Certification – Documents must be signed by all the adult members of a household prior to move-in and at the time of the annual recertification, and must state the anticipated annual gross income of the household.

Sufficient But Imperfect Documentation

If eligibility documentation is imperfect, yet sufficient for the monitoring agency to make a reasonable determination that a household is eligible, the owner should be advised of the imperfections and the need to implement procedures ensuring that similar imperfections do not occur in the future. Imperfections are not of a nature that would cause the unit to be considered out of compliance and will not result in reportable noncompliance.

Use of Standardized Forms

The compliance monitoring regulations under Treas. Reg. §1.42-5 establish the minimum monitoring requirements. State agencies can determine how documents are maintained and may mandate the use of standardized forms to document an owner’s compliance with the requirements under Treas. Reg. §1.42-5.

In Compliance

In order to establish a unit as a qualified housing tax credit unit, the household’s Gross Annual Household Income must be at or below the elected area median income (AMGI) limit or national nonmetropolitan median gross income (NNMGI) limit when applicable, adjusted for family size. Household income is calculated in a manner consistent with the


Rev. Proc. 94-65, 1994-2 C.B. 798, allows building managers to obtain a tenant’s signed, sworn statement if the total combined cash value of household assets is less than $5,000. Some states have not implemented this procedure and will require third party verification. The states that allow this have an appropriate form.


Revised October 2009

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