8823
Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition
Form 8823 is the Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition. The instructions say housing credit agencies use it as part of their compliance monitoring responsibilities under section 42(m)(1)(B)(iii) to notify the IRS of any building disposition or noncompliance with the low-income housing tax credit provisions.
This is an agency form, not one a building owner or tenant files. The agency reports the building, its owner, unit counts, the type of noncompliance found or corrected, and any sale, foreclosure or destruction of the building. The instructions say the agency should also give a copy to the owner(s).
The form says to file a separate Form 8823 for each building that is disposed of or goes out of compliance. Its instructions are printed on the form itself. The form can be filled out free in the browser on this page and downloaded without an account.
Building name and address, building identification number (BIN), owner's name, address and taxpayer identification number, and the total credit allocated to the BIN. Boxes show when lines 1 or 3 differ from Form 8609.
The number of buildings in a multiple building project, then total residential units, low-income units, units with noncompliance issues and units reviewed by the agency.
The date the building ceased to comply, the date the noncompliance was corrected, and a box for a report filed only to show a correction.
Seventeen issues, such as household income above the limit, gross rents above limits, inspection standard violations, set-aside failures and units used on a transient basis, each with Out of compliance and Noncompliance corrected boxes.
A box for attached additional information, then the type of disposition (sale, foreclosure, destruction or other), its date, and the new owner's name, address and number.
Contact person name and telephone number on lines 14 and 15, then the signature, printed name and title of the authorizing official and the date.
Check the box at the top if the form is an amended return correcting earlier information. On line 2, enter the BIN the agency assigned, as shown on Form 8609.
Enter the owner's name, address and number, and mark EIN or SSN. With more than one owner, the instructions say to attach a schedule listing each owner, address and taxpayer identification number.
Count the units with noncompliance issues and the units reviewed. The instructions say reviewed by agency includes physical inspection, tenant file inspection or review of documents the owner submitted.
Enter the date of the earliest discovered issue on line 8 and the date of the last correction on line 9. For a building disposition, the instructions say to skip line 8 and lines 9 through 12 and complete line 13.
Check Out of compliance alone if the issue is still uncorrected at the end of the correction period, both boxes if it was corrected within the period, or Noncompliance corrected alone if it was reported before on a separate Form 8823.
Attach the explanations the form asks for, such as for lines 11c, 11h, 11o, 11p, 11q and 12, then enter the contact person and have the authorizing official sign and date.
You get the real form, filled in a browser tab, with nothing standing between you and the finished PDF.
The instructions say to file no later than 45 days after the building was disposed of, or after the end of the time allowed the owner to correct the condition(s) that caused noncompliance. They point to Regulations section 1.42-5(e).
The instructions give this address: Department of the Treasury, Internal Revenue Service Center, Philadelphia, PA 19255-0549.
The form says to file a separate Form 8823 for each building that is disposed of or goes out of compliance.
The instructions say to check line 10 only when the sole reason for filing is to show that previously reported noncompliance has been corrected.
For line 11c, the instructions say agencies inspect using either local health, safety and building codes or the Uniform Physical Condition Standards (UPCS), but not in combination.
The instructions say any authorized housing credit agency that becomes aware that a low-income housing building was disposed of or is not in compliance with section 42 files Form 8823.
No tool matches that search.
No. The instructions say an authorized housing credit agency files it. The agency should also give a copy to the owner(s).
The instructions say no later than 45 days after the building was disposed of, or after the end of the time allowed the owner to correct the noncompliance.
The instructions list the Department of the Treasury, Internal Revenue Service Center, Philadelphia, PA 19255-0549.
No. The form says to file a separate Form 8823 for each building that is disposed of or goes out of compliance.
The instructions say line 2 takes the BIN assigned to the building by the housing credit agency as shown on Form 8609.
They are printed on pages 3 to 5 of the form PDF. The form also points to www.irs.gov/Form8823 for the latest information.
