8703

Annual Certification of a Residential Rental Project

Agency
IRS
Revision
Rev. December 2021
Fillable fields
53
Pages
4
Official source
IRS form page
Checked
October 21, 2026
Fill 8703 online
Page 1 of form 8703

Form 8703: Annual Certification of a Residential Rental Project

Form 8703 is used by an operator of a residential rental project to provide annual information the IRS will use to determine whether a project continues to be a qualified residential rental project under section 142(d), the instructions say. If so, and certain other requirements are met, bonds issued in connection with the project are considered "exempt facility bonds" and the interest paid on them is not taxable to the recipient.

The form reports the income test elected for the project, the date the qualified project period began, counts of low-income units and vacated units, and details of the tax-exempt bond issue that financed the project. The operator then certifies that the project continues to meet, or does not meet, the requirements of section 142(d). A separate Form 8703 is completed for each project.

You can fill out Form 8703 free in your browser on this page and download it without an account.

Top of page 1 of Form 8703: Annual Certification of a Residential Rental Project, as printed by IRS

What's on Form 8703

Part I: General Information

Operator and owner names, addresses and TINs, the building or project address, and an Amended Return box. The report number line is for IRS use only.

Lines 1 to 4: test and project status

Boxes for the test elected (20-50, 40-60, 25-60 NYC only, 20-60 or 40-70), the start date of the qualified project period, any low-income housing credit allocation and BIN, and a Yes or No question on new residents.

Part II: Annual Determinations

Lines 5 to 13 count total units, low-income units, the low-income percentage, deep-rent skewed figures and units vacated during the calendar year.

Part III: Issuer and Description of Bonds

Lines 14 to 20 ask for the issuer's name and EIN, the bond issue name and date, the CUSIP number, issue price and final maturity date.

Part IV: Certification

A statement under penalties of perjury with boxes for continues to meet or does not meet section 142(d), the operator's signature, and the Paid Preparer Use Only area.

How to fill out Form 8703

  1. 1

    Part I

    Enter the name, address and TIN of both the operator and the owner, and the address of the project. The instructions say not to use P.O. boxes, and to leave the report number blank.

  2. 2

    Lines 1 to 3

    Check the test elected for the project and enter the date the qualified project period began. If a low-income housing credit allocation was issued, enter the BIN, and attach a schedule of BINs if more than one building has one.

  3. 3

    Line 4

    Check Yes if no unit was occupied by a new resident whose income exceeds the applicable income limit. The form says to then complete lines 5, 11, 12 and 13 and skip lines 6 through 10.

    Line 4 on page 3 of Form 8703: Annual Certification of a Residential Rental Project, as printed by IRS
  4. 4

    Lines 5 to 13

    Enter the unit counts, add lines 6 and 7 for line 8, and divide line 8 by line 5 for line 9. Complete lines 10a and 10b only if a deep-rent skewed election was made under section 142(d)(4).

  5. 5

    Part III

    Enter the bond details. The instructions say each entry should be identical to the matching line on Form 8038, and to attach a separate statement for each bond issue if more than one financed the project.

  6. 6

    Part IV

    Check continues to meet or does not meet, then the operator signs and dates. The instructions say to check does not meet when line 9 is below the elected test's percentage.

Why fill Form 8703 on indox

You get the real form, filled in a browser tab, with nothing standing between you and the finished PDF.

  • Fill the form right in your browser, no software to install
  • Free to fill and free to download, with no account
  • The official blank straight from the IRS, not a copy someone retyped
  • Works on a phone, tablet or computer

When and where to file

When to file

The instructions say to file Form 8703 by March 31 after the close of the calendar year for which the certification is made, annually during the qualified project period.

Where to file

Internal Revenue Service, Service Center, Ogden, UT 84201.

Penalty

The instructions say section 6652(j) provides for a penalty of $100 for each failure to comply with the section 142(d)(7) certification requirements, unless the failure is due to reasonable cause and not to willful neglect.

Amended returns

Check the Amended Return box, give all the information from the original return plus the new or corrected information, and attach an explanation of the reason for the amendment.

Noncompliance

The instructions say that unless noncompliance is corrected within a reasonable period, the bonds may no longer be qualified bonds under section 141, and the interest on them becomes taxable.

Related forms

Who files Form 8703?

  • Project operators

    The operator of the project files the form each year during the qualified project period and signs the Part IV certification.

  • Project owners

    Part I asks for the name, address and taxpayer identification number of the owner of the project as well as the operator.

  • Paid preparers

    The instructions say anyone paid to prepare the return generally signs it, fills in the Paid Preparer Use Only area, and gives a copy to the operator.

  • One form per project

    The form says to complete a separate Form 8703 for each project, so an operator of several projects files several forms.

  • Not for officers who fill it in

    If an authorized officer of the operator filled in the return, the instructions say the paid preparer's space should remain blank.

The instructions say the operator of a residential rental project for which an election was made under section 142(d) files Form 8703 annually. It is not a form an individual tenant files.

Official sources and the blank

Do it all with indox

View all 99 tools

Questions about Form 8703

Who files Form 8703?

The operator of a residential rental project for which an election was made under section 142(d), once a year, with a separate form for each project.

When is Form 8703 due?

The instructions say by March 31 after the close of the calendar year for which the certification is made.

Where is Form 8703 mailed?

To the Internal Revenue Service, Service Center, Ogden, UT 84201.

What is the qualified project period?

The instructions say it begins on the first day that 10% of the residential units are occupied and ends on the latest of three dates listed in the line 2 instructions, such as 15 years after 50% of the units are occupied.

What happens if the percentage on line 9 is too low?

The instructions say the project is considered in post-issuance noncompliance, and the operator checks the box certifying that the project does not meet the requirements of section 142(d).

How does Form 8703 relate to Form 8038?

The Part III bond details, such as the issuer's name, EIN, issue date, CUSIP number, issue price and final maturity date, should be identical to those listed on Form 8038 for the bond issue.