Form 8610 Annual Low-Income Housing Credit Agencies Report

Form

8610

Annual Low-Income Housing Credit Agencies Report

OMB No. 1545-0990

2015

▶ Under section 42(l)(3) of the Internal Revenue Code.

Department of the Treasury
Internal Revenue Service

▶ Information about Form 8610 and its instructions is at www.irs.gov/form8610.

Name of housing credit agency

Employer identification number of agency

Address of housing credit agency

Check box if amended
report . . . . . .

▶

FOR IRS USE ONLY

Part I
1
2a

Reconciliation of Attached Forms and Schedules
1

Enter the number of attached Forms 8609 used to allocate credit in 2015
Enter the total number of attached Forms 8609 for credits
(1) allocated prior to 2015 and (2) attributable under section
42(h)(4) to projects financed by tax-exempt bonds . . . .

2a

b Enter the total dollar amount of credits attributable to projects
financed by tax-exempt bonds as described in 2a(2) above
▶ $
3
Enter the number of attached Schedules A (Form 8610)
reporting 2015 carryover allocations . . . . . . . . .
4
Total number of attached forms and schedules. Add lines 1, 2a, and 3

3
4

Part II
5a

b
c
d
e
f
g
h
6a
b
c
d
7
8
9
10

• Arkansas, Illinois, Indiana, Iowa, Missouri, Nebraska, and Wisconsin only: Enter Midwestern disaster
area credits allocated in 2008, 2009, or 2010 that were both returned and reallocated in the
Midwestern disaster area in 2015.
• Louisiana and Texas only: Enter Hurricane Ike disaster area credits allocated in 2008, 2009, or 2010
that were both returned and reallocated in the Hurricane Ike disaster area in 2015 . . . . . . .
Enter the larger of $2.30 multiplied by the state’s population or $2,680,000 . . . . . . . . .
Enter the amount of credit ceiling returned in 2015 from allocations prior to 2015 (see instructions) .
Enter the amount (if any) allocated to the state from the 2015 National Pool . . . . . . . . .
Add lines 5b, 5c, and 5d . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter the unused state housing credit ceiling (if any) from the 2014 Form 8610, line 9 . . . . . .
Total state housing credit ceiling for 2015. Add lines 5a, 5e, and 5f . . . . . . . . . . .
Enter the total amount included in line 5g that was allocated during 2015 to qualified nonprofit
organizations under section 42(h)(5) (see instructions) ▶ $
Enter the total dollar amount of credits from Forms 8609 used to allocate credit in 2015
6a
Enter the total dollar amount of credits from Schedules A (Form 8610), line 5
6b
Total credits allocated during 2015. Add lines 6a and 6b (cannot exceed line 5g)
. . . . . .
Subtract line 5a from line 6c
. . . . . . . . . . . . . . . . . . . . . . . .
Enter the smaller of line 5f or line 6d . . . . . . . . . . . . . . . . . . . . . .
Subtract line 7 from line 6d . . . . . . . . . . . . . . . . . . . . . . . . .
State’s unused housing credit ceiling carryover to 2016. Subtract line 8 from line 5e. If zero or less, enter -0Unused 2014 carryover assigned to 2016 National Pool. Subtract line 7 from line 5f . . . . .

Part III
11

Reconciliation of Credit Ceilings and Allocations (see instructions)

Additional housing credit dollar amounts:

5a
5b
5c
5d
5e
5f
5g

6c
6d
7
8
9
10

Compliance With Low-Income Housing Requirements (see instructions)

Does the state’s qualified allocation plan in effect for 2015 include compliance monitoring procedures as
required in section 42(m)(1)(B)(iii) and Regulations section 1.42-5(a)(2), including monitoring for habitability
standards through regular site visits? (If “No,” attach an explanation.) . . . . . . . . . . . . .
Has the housing credit agency, for 2015 (or its most recent 12-month operating period), complied with all applicable
requirements under the compliance monitoring procedures in its qualified allocation plan? (If “No,” attach an explanation.)

Yes

No

Yes

No

13

Has the housing credit agency, for 2015 (or its most recent 12-month operating period), complied with
the requirements of its monitoring procedures to fulfill its notification of noncompliance responsibilities
under Regulations section 1.42-5(e)? (If “No,” attach an explanation.) . . . . . . . . . . . . .

Yes

No

14
15

Number of buildings subject to monitoring . . . . . . . . . .
Number of buildings for which compliance monitoring was completed .

12

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14
15

Under penalties of perjury, I declare that I have examined this report and accompanying forms, schedules, binding agreements, and election statements, and other
attachments, and to the best of my knowledge and belief, they are true, correct, and complete.

Print Name and Title
Cat. No. 63982F

▲

For Paperwork Reduction Act Notice, see instructions.

▲

▲

Signature of Authorizing Official

Date
Form 8610 (2015)

Page 2

Form 8610 (2015)

General Instructions
Section references are to the Internal Revenue Code unless
otherwise noted.

Future Developments
For the latest information about developments related to
Form 8610 and its instructions, such as legislation enacted
after they were published, go to www.irs.gov/form8610.

What’s New
The population component of the state housing credit ceiling
for 2015 is the greater of $2.30 times the state’s population
or $2,680,000.
In addition, certain states are able to increase their
housing credit ceiling. The guidelines for these increases are
explained in Credit ceiling increases, under Purpose of Form,
below.
Under Who Must File, we added a description of
documentation required when an agency provides tolling
relief for certain buildings located in a major disaster area.

Purpose of Form
Housing credit agencies use Form 8610 to transmit Forms
8609, Low-Income Housing Credit Allocation and
Certification, and Schedules A (Form 8610) to the IRS. Form
8610 is also used to report the dollar amount of housing
credits allocated during the calendar year. The housing
credit agency must not allocate more credits than it is
authorized to allocate during the calendar year.
Generally, the state housing credit ceiling for 2015 for any
state is the sum of:
1. The larger of $2,680,000 or $2.30 multiplied by the
state’s population,
2. The amount of state housing credit ceiling returned in
2015 from allocations made prior to 2015,
3. The amount, if any, allocated to the state from the
National Pool, plus
4. The unused state housing credit ceiling, if any, for 2014.
See Regulations section 1.42-14 for more information.
Credit ceiling increases. In the following situations, the
housing credit ceiling for certain states will increase.
For 2015, the housing credit ceiling for Arkansas, Illinois,
Indiana, Iowa, Missouri, Nebraska, and Wisconsin is
increased by the Midwestern disaster area credits allocated
in 2008, 2009, or 2010 that were both returned and
reallocated in the Midwestern disaster area in 2015. See Line
5a, later.
For 2015, the housing credit ceiling for Louisiana and
Texas is increased by the Hurricane Ike disaster area credits
allocated in 2008, 2009, or 2010 that were both returned and
reallocated in the Hurricane Ike disaster area in 2015. See
Line 5a, later.

If a housing credit agency has granted any project relief for
carryover allocations discussed in section 6 of Rev. Proc.
2014-49, 2014-37 I.R.B. 535, the agency must attach to
Form 8610 a copy of the Schedule A (Form 8610) for the
projects for which it has approved relief. These attached
copies of Schedule A (Form 8610) must have the box
checked that indicates the housing credit agency granted
carryover allocation relief under Rev. Proc. 2014-49. The
housing credit agency should only include Schedules A
(Form 8610) for projects receiving approval of the carryover
allocation relief since the agency last filed Form 8610. The
information from these particular Schedules A (Form 8610)
are not included on any line in Part I or Part II of Form 8610.
If a housing credit agency has granted any project relief to
toll the beginning of the first year of the credit period as
discussed in section 10 of Rev. Proc. 2014-49, the agency
must attach to the Form 8610 filed for the calendar year in
which the President declared the area a major disaster area
a statement containing the following information: (1) the
name, address, and TIN of the building owner; (2) the
address of the building; (3) the building identification number
(BIN); and (4) the agency approved first year of the credit
period. The statement should be labeled “Relief Under
Section 10 of Rev. Proc. 2014-49.” The statement should be
signed by an agency authorized official and a copy of the
statement should be provided to the building owner.

When To File
File the 2015 Form 8610 with accompanying Forms 8609
(with only Part I completed) and Schedules A (Form 8610) by
February 29, 2016.

Where To File
File Form 8610 and attached forms and schedules with:
Department of the Treasury
Internal Revenue Service Center
Philadelphia, PA 19255-0549

Penalty
The $100 penalty under section 6652(j) applies to any failure
to file Form 8610 when due.

Specific Instructions
Note: The primary housing credit agency may rely on
information provided by any constitutional home rule city or
local housing credit agency under Temporary Regulations
section 1.42-1T(c)(3) or (4).
To ensure that Form 8610 is correctly processed, attach
all forms and schedules to Form 8610 in the following order.
1. Forms 8609.
2. Schedules A (Form 8610), not including those for
projects approved for carryover allocation relief under Rev.
Proc. 2014-49.
3. Schedules A (Form 8610) for projects approved for
carryover allocation relief under Rev. Proc. 2014-49.

Who Must File

Amended Report

Any housing credit agency authorized to make an allocation
of the credit (even if no credit is actually allocated) on a Form
8609 or carryover allocation reported on a Schedule A (Form
8610) to an owner of a qualified low-income building during
the calendar year must complete and file Form 8610. In
states with multiple housing credit agencies (including states
with constitutional home rule cities), the agencies must
coordinate and file one Form 8610.

If this is an amended Form 8610, check the “amended report”
box. Use the same version of the form that was originally filed
(for example, a 2015 Form 8610 to amend the 2015 report, a
2014 Form 8610 to amend the 2014 report, etc.).
Complete only those lines that are being amended by
entering the correct information. Attach any additional
documentation necessary to explain why an amended Form
8610 is being filed.

Form 8610 (2015)

Part I
Line 1
Enter the total number of Forms 8609 attached to this Form
8610 that were used to allocate credit during 2015. Do not
include Forms 8609 issued to taxpayers that reflect credit
allocations made prior to 2015 on section 42(h)(1)(E) or
42(h)(1)(F) carryover allocation documents.

Line 2a
Enter the total number of Forms 8609 attached to this Form
8610 for:
• Credit allocations made prior to 2015 on section 42(h)(1)(E)
or 42(h)(1)(F) carryover allocation documents and
• Credits attributable to projects financed by tax-exempt
bonds subject to volume cap under section 42(h)(4).

Part II
Line 5a
For 2015, an additional housing credit amount is available
ONLY to the states listed on this line. Follow the instructions
to determine the additional housing credit amount available
for the listed states.
Arkansas, Illinois, Indiana, Iowa, Missouri, Nebraska,
and Wisconsin. The additional amount is the total of the
state's Midwestern disaster area credits allocated in 2008,
2009, or 2010 that were returned and reallocated in the
Midwestern disaster area in 2015.
Louisiana and Texas. The additional amount is the total
of the state's Hurricane Ike disaster area credits allocated in
2008, 2009, or 2010 that were returned and reallocated in
the Hurricane Ike disaster area in 2015.

Line 5b
A state’s population is determined according to section
146(j). See Notice 2015-23, 2015-12, I.R.B. 769, for
applicable population figures.

Line 5c
Do not include on this line allocations made and returned in
the same year. For states identified in line 5a, do NOT
include line 5a disaster credits returned in 2015 (whether or
not reallocated).

Line 5d
Enter the “Amount Allocated,” if any, for your state in Rev.
Proc. 2015-49, 2015-41 I.R.B. 555.

Line 5f
If the 2014 Form 8610 was amended, enter the amount (if
any) from the amended Form 8610, line 9.

Page

Lines 6a and 6b
Enter on the applicable line the dollar amount actually
allocated during 2015. Do not include the following.
• Credits allowed to tax-exempt bond financed projects
under section 42(h)(4). These credits do not count against
the total state housing ceiling authorized on line 5g.
• Amounts allocated and returned during the year, unless
such amounts are reallocated by the close of the year.
On line 6a, enter the total amounts reported on all Forms
8609, Part I, line 1b, that are included on line 1 of this Form
8610. On line 6b, enter the total amounts reported as
carryover allocations that are included on line 3 of this Form
8610.

Part III
Line 14
Include all low-income buildings within the 15-year
compliance period as of the end of the reporting year that
were subject to compliance monitoring under Regulation
1.42-5. Line 14 also includes buildings financed with
tax-exempt bonds and by the Rural Housing Service.

Line 15
Of the low-income buildings reported on Line 14, enter the
number of buildings that have been physically inspected and
subjected to the 20% sampling for unit inspections and
tenant file reviews at least once in the last three years.
Consider the physical inspections and tenant file reviews
completed if the owner has been provided notice of the
results.
Caution: If Line 14 does not equal Line 15, attach an
explanation to the Form 8610 to explain the difference.

Paperwork Reduction Act Notice
We ask for the information on this form to carry out the
Internal Revenue laws of the United States. You are required
to give us the information. We need it to ensure that you are
complying with these laws and to allow us to figure and
collect the right amount of tax.
You are not required to provide the information requested
on a form that is subject to the Paperwork Reduction Act
unless the form displays a valid OMB control number. Books
or records relating to a form or its instructions must be
retained as long as their contents may become material in
the administration of any Internal Revenue law. Generally,
tax returns and return information are confidential, as
required by section 6103.
The time needed to complete and file the following forms
will vary depending on individual circumstances. The
estimated average times are:

Line 5g
This is the state housing credit ceiling available for
allocations during 2015.

Line 5h
Not more than 90% of the line 5g amount is allowed to be
allocated to projects other than qualified low-income
housing projects described in section 42(h)(5)(B).
Enter the sum of the following amounts.
• Any amount reported on line 1b of an attached Form 8609
with box 6g checked.
• Any amount reported on line 5 of an attached Schedule A
(Form 8610) with question 3b answered “Yes.”

3

Recordkeeping .

.

.

Form 8610

Sch. A
(Form 8610)

.

9 hr., 34 min.

3 hr., 35 min.

Learning about the law or
the form . . . . . .

1 hr., 59 min.

24 min.

Preparing and sending the
form to the IRS . . . .

2 hr., 13 min.

28 min.

If you have comments concerning the accuracy of these
time estimates or suggestions for making these forms
simpler, we would be happy to hear from you. You can send
your comments from www.irs.gov/formspubs. Click on
“More Information” and then on “Give us feedback.” Or you
can write to the Internal Revenue Service, Tax Forms and
Publications, 1111 Constitution Ave. NW, IR-6526,
Washington, DC 20224. Do not send these forms to this
address. Instead, see Where To File, earlier.