Private Sector: New Markets Tax Credit (NMTC) Program Allocation and Qualified Equity Tracking (AQEI) System

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CDFI Fund
New Markets Tax Credit Program 
Allocation and Qualified Equity Investment Tracking (AQEI) System Data Points
OMB Approval No. 1559-0024
Expires: [Date of OMB Expiration]

Pursuant to a Federal Register Notice (91 Federal Register 36651, June 17, 2026) the Community Development Financial Institutions Fund (the CDFI Fund) solicited public comments regarding the information collection requirements (contained in the NMTC Allocation Agreement) related to an Allocatee’s receipt of a Qualified Equity Investment (QEI). Allocatees will provide this information using an electronic data collection and submission system, which the CDFI Fund has developed, known as the Allocation and QEI Tracking System (AQEI).  
Below is a summary of the system’s key functionalities, as well as a list of the data points Allocatees will be required to submit through the AQEI.

Paperwork Burden Statement
According to the Paperwork Reduction Act, as amended, no persons are required to respond to a collection of information unless it displays a valid Office of Management and Budget (OMB) Approval Number. This form's Approval Number is 1559-0024. Public reporting burden for this collection of information is estimated to average 8.5 hours per year per allocation, including time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Send comments regarding the burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden, to the Community Development Financial Institutions Fund, 1500 Pennsylvania Ave, NW, Washington, DC 20220.

Key Definitions
    (1) Tier N Investors are those who directly provide QEIs to an Allocatee or its eligible subsidiary CDEs.
    (2) Tier N+1 Investors are the partners and/or members of a Tier N Investor with a pass-through structure (e.g., a limited liability company or limited partnership).

Summary of Key System Functionalities
Allocatees will have the ability to:
    • Enter and save data regarding any transfer of allocations to eligible subsidiary CDEs;
    • Enter and save data regarding the providers of QEIs for all pass-through entities;
    • Enter and save individual investor contributions (equity and debt) at all tiers;
    • Enter price of NMTC at QEI issuance;
    • Enter dollar amount of public and private sources of funds contributed to QEI;
    • Generate and submit the requisite email notification to the CDFI Fund regarding receipt of a QEI;
    • Continually view QEI data that has already been finalized submitted to the CDFI Fund;
    • Print PDF reports of submitted QEI data; 
    • Download submitted QEI data in comma-delimited format, which is compatible with most spreadsheet software such as Excel; and 
    • Enter information about the status of Qualified Active Low-Income Community Business and Qualified Low-Income Community Investments at the end of the tax credit compliance period.
List of Data Points


Data Fields1
Description
Allocation Transfer
Subsidiary Name
The name of the CDE that received the equity investment. 

Total Transferred
Amount of allocation authority transferred to the subsidiary CDE.

QEIs (Finalized)
Allocation/QEI Tracking will automatically calculate this field based on information supplied in other portions of
Allocation/QEI Tracking.

QEIs (Pending)
Allocation/QEI Tracking will automatically calculate this field based on information supplied in other portions of
Allocation/QEI Tracking.
QEI Details
Associated Allocation
The allocation that the QEI is associated with.

Sub-CDE
The Sub-CDE that the QEI is associated with.

Date QEI Was Logged
Auto-populated based on the date the QEI data was logged in the system.

Allocations Remaining by Allocatee / Allocations Remaining by Sub-CDE
Allocation/QEI Tracking in AMIS will automatically calculate this field based on information supplied in other portions of Allocation/QEI Tracking. 

Is this a NRE-QEI?
Allocatee will check the box if the CDE intends to take advantage of the provisions of TD 9600. The Allocatee must designate the QEI as a Non-Real Estate QEI.


Amount
Enter the amount of the QEI at original issue (i.e., do not report on the current market value of the QEI). The equity investment is acquired by the investor at its original issue solely in exchange for cash to the CDE or on behalf of the CDE.


Date of Original QEI
Enter the date on which the investor actually provided the Allocatee or Sub-CDE with the actual investment. For compliance purposes, this date will serve as the credit allowance date, which marks the start of: (1) the seven-year period during which the QEI must stay with the CDE; and (2) the 12-month period that the CDE has to make QLICIs with its QEI proceeds.


Funds Retained
Funds in excess of the cash exchanged for the QEI at original issue that are retained as fees or expenses at the investment fund level.


QEI Identifier
A unique identifier automatically generated by the system.


Finalize Checkbox
The data point will automatically be checked once the QEI is finalized by the user.


Finalized Date
The data point will automatically be populated once the QEI is finalized.


Total Debt
Total debt amount contributed by investors and included in the QEI Amount.


Total Equity
Total equity amount contributed by investors and included in the QEI Amount.


Consolidated Tax Return
Checkbox to indicate if the issuing CDE is an Affiliate or subsidiary of an entity that files a consolidated corporate income tax return. If yes, please provide the TIN/EIN and name of the common parent organization with whom the issuing CDE files a consolidated corporate income tax return.

Organization EIN
EIN/TIN of parent organization.

Organization Name
Name of parent organization.
Tier N Investors Contributing to QEI
Investor Name
Enter name of Tier N Investor.

Investor Type
Select from a drop-down box that includes:

    • Investment Fund;
    • Individual investor;
    • Foundation or other philanthropic organization;
    • Pension fund;
    • Bank or other regulated financial institution;
    • Real estate developer or investment company; 
    • Venture fund; 
    • Investment bank; 
    • Insurance company; 
    • Utility company;
    • Other type of corporate investor; and
    • Other type of investor.


Is this a new investor?
Leave the checkbox unmarked if the Allocatee or any of its Affiliates has received any funds (whether debt, equity, grant, etc.) from this investor in the last five years.

Is this an Affiliated entity?
Allocatee should check this box if the investor is an “Affiliate” - any legal entity that controls, is controlled by, or is under common control with, the Allocatee.

Investment Amount ($)
Enter amount of this Tier N Investor’s Contribution to the QEI. If there is only one Tier N Investor contributing to a QEI, then the “Investment Amount” should equal the “QEI
Amount” at the top of the page. Do not use commas.

Credit Price
Enter price per credit the investor paid for the expected
NMTC.

Form of QEI
Select from a dropdown box that includes Stock or Capital
Interest.

TIN
Enter the Tier N Investor’s nine-digit taxpayer identification number. Do not use hyphens. Required unless “Individual
Investor” is selected for investor type.

Anticipated Rate of Return
Enter the rate of return (as a percent) that you expect this Tier N Investor to receive. The rate of return can include the benefit of the NMTC on a pre-tax basis.

Address Line 1 and 2 City, State, and Zip
Enter the address of the Tier N Investor. Zip code must be five digits.

Phone and Email
Enter the contact information for the Tier N Investor.

Investor Status
Select from the following options Pass-Through Entity, NMTC Claimant, or Not Applicable.

Equity Amount
Enter the amount of equity the investor (or its partners or members) contributed to the Investment Amount. 

Equity Investor Type
System provides a drop-down menu for the selection of the equity investor type:

    • CDE or CDE-Affiliate.
    • Third party not related to or Affiliated with the CDE, Leverage Lender, or the QALICB.
    • Other.

Leverage Amount
If your investor’s QEI is using a “leveraged” structure (see IRS Revenue Ruling 2003-20 available on the CDFI Fund’s website at www.cdfifund.gov), enter the amount of funds the pass-through investor entity borrowed in order to provide this QEI. You should include debt even if it came from a non-partner or non-member entity. If your investor is not using a “leveraged” structure, enter zero in this field.


Amount of Public Subsidy
The amount of public subsidy used to fund the “leveraged” loan.

Leverage Lender Type
System provides a drop-down of options to categorize the leverage lender:

    • CDE or CDE-Affiliate.
    • NMTC Equity Investor or an Affiliate of this entity.
    • QALICB or QALICB-Affiliate.
    • Third party not related to or Affiliated with the CDE, NMTC Investor, or the QALICB.
    • Other Tax Credit Pass-Through entity (includes pass- through entity for other types of tax credits or credit programs, such as state NMTC).
    • Other.


Other Tax Credit Amount
Report the tax credit amount received in conjunction with this pass‐through entity for another type of tax credit. Include other Federal and state tax credits or credit programs that were used to fund the QEI through the investment fund (i.e. leverage structure).

Conditionally required if Leverage lender Type equals OTHER TAX CREDIT PASS‐THROUGH.


Source of Leverage
Non-NMTC source of public subsidy System provides a drop-down of options

    • Non-NMTC source of public subsidy. 
    • Short-term loan originated to the QALICB or 
    • QALICB- Affiliate with a term less than one year.
    • CDE loan originated to the QALICB or QALICB Affiliate from the CDE with a term greater than one year.
    • Other loan that does not fit one of the definitions 
above. 
    • Private donations or grants given to QALICB or 
    • QALICB- Affiliate.
    • Other QALICB or QALICB-Affiliate assets (not specifically sourced for the transaction, from other parties not related to the QALICB and not originating from public grants or other sources of subsidy).
    • Other


Other Public Sources Used to Fund Leveraged Loan
Report the amount of other public sources (state, local and federal), excluding other tax credits, used to fund the leveraged loan, including public sources that are received by Affiliates of the QALICB and used to fund the leverage loan. Do not include the federal NMTC amount.

Conditionally required if Leverage lender Type equals QALICB or QALICB-Affiliate and Sources of Leverage equals Non-NMTC source of public subsidy.


Tier N Parent QEI
Auto-Populates the QEI that the Tier N investor is associated with.
Tier N+ 1 Investors
Name of the Tier N+1 Investor
Enter name of Tier N+1 Investor.

Investor Type
 Select from a drop-down box. 

Investment Amount ($)
Enter amount of this Tier N+1 Investor’s investment amount. Do not use commas.

TIN
Enter the Tier N+1 Investor TIN/EIN.

Investor Status
Select from the following options Pass-Through Entity, NMTC Claimant, or Not Applicable.

Previous Tier Investor
Auto-populates with the previous Tier Investor’s name.

Leverage Amount
If your investor’s QEI is using a “leveraged” structure (see IRS Revenue Ruling 2003-20 available on the CDFI Fund’s website at www.cdfifund.gov), enter the amount of funds the pass-through investor entity borrowed in order to provide this QEI. You should include debt even if it came from a non-partner or non-member entity. If your investor is not using a “leveraged” structure, enter zero in this field. Do not use commas.


Amount of Public Subsidy
The amount of public subsidy used to fund the leveraged amount.

Leverage Lender Type
System provides a drop-down of options to categorize the leverage lender.

Other Tax Credit Amount
Report the tax credit amount received in conjunction with this pass‐through entity for another type of tax credit. Include other Federal and state tax credits or credit programs that were used to fund the QEI through the investment fund (i.e. leverage structure).

Conditionally required if Leverage lender Type equals OTHER TAX CREDIT PASS‐THROUGH.


Source of Leverage
System provides a drop-down of options to categorize the source of the leverage loan.

Other Public Sources Used to Fund Leveraged Loan
Report the dollar amount of other public sources (state, local and federal), excluding other tax credits, used to fund the leveraged loan, including public sources that are received by Affiliates of the QALICB and used to fund the leverage loan. Do not include the federal NMTC amount.

Conditionally required if Leverage lender Type equals QALICB or QALICB-Affiliate and Sources of Leverage equals Non-NMTC source of public subsidy.


Equity Amount
Enter the dollar amount of equity the investor (or its partners or members) contributed to the Investment Amount. Do not use commas.

Equity Investor Type
System provides a drop-down menu for the selection of the equity investor type.
QEI
Repayments (RQI)
Allocation
Pre-populates with allocation the RQI is associated with.

RQI Identifier
System provides a drop-down menu for the selection of a unique identifier.

Fiscal year repayment amount
Fiscal Year End date in which the Allocatee indicates repayment of QEIs were received.

Repayments from unrelated entities
Aggregate dollar amount of repayments received from “unrelated entities.”

Fiscal Year End
Select the fiscal year end for reporting year.


Summary of Disbursement Report Data Points
Data Field
Description
FCOS
AMIS will auto-populate this field with previously reported QLICIs classified as Financial Counseling and Other Services (FCOS).
Loan Purchases
AMIS will auto-populate this field with previously reported QLICIs classified as Loan Purchases.
Loan Source
Amount Totals
AMIS will auto-populate this field with previously reported QLICIs reported in the TLR.
Operations
Enter the total dollar amount of the QEI proceeds spent on Operations.
Loan Loss Reserves
Enter the dollar amount of the QEI proceeds that the Organization set aside for loan losses in existing QLICIs funded by the QEI. 
Reserves for Additional Investments
Enter the dollar amount of the QEI proceeds that the Organization has set aside for additional investment in existing QLICIs. This amount, summed with “Reserves for Loan Losses,” should not exceed the amount of reserves that the Organization is permitted to establish pursuant to the IRS regulations (i.e., 5% of the QEI proceeds).
Deposits in CDFIs
Enter the dollar amount of QEI proceeds that was invested in unrelated certified CDFIs as permitted under the provisions of TD 9600. This only applies to QEIs that are designed as a Non-Real Estate QEI under TD 9600.
Term in Months
Enter the term, in months, of the QEI at original issue. This dollar amount should be equal to, or greater than, the 7-year tax credit period (i.e., 84 months) during which the QEI must remain with the CDE.

Summary of QEI Closeout Report Data Points
Data Field
Description
Loan Loss Reserves
This field is auto-populated with the amount reported in the QEI Disbursement Report summary for the individual QEI. 
Loan Loss Reserves Usage at Closeout. 

Select a response from the provided dropdown menu. (This field will be disabled if a response of zero is entered for Loan Loss Reserves).
    • Retained as Loan Loss Reserves (for an active loan or additional loans). 
    • Retained by the CDE or an Affiliate 
    • Distributed to Investor. 
    • Provided to Borrower. 
    • Other.

Loan Loss Reserves Other:
A response is mandatory if ‘Other’ is selected for ‘Loan Loss Reserves Usage at Closeout’.
Business Description Expanded.

Allocatees are required to provide additional details to elaborate on the description of the business/project and services.
Is this a Performing or Non-Performing Loan? 
Select a response from the provided dropdown menu: 
    • Performing (payments for the loan have been made in full and on time). 
    • Non-Performing (payments for the loan have not been made for at least 90 days).

Refinanced or Sold? 
Choose a response from the following options from the provided dropdown. 
    • Sold to Affiliated (with the CDE) Entity 
    • Sold to Non-Affiliated (with the CDE) Entity 
    • Refinanced by Affiliated (with the CDE) Entity (if this option is selected a response to the question below is required) 
    • Refinanced by Non-Affiliated (with the CDE) Entity (if this option is selected a response to the question below is required). 

Indicate the Source of Capital Used for Refinancing.
For transactions that have been “Refinanced by Affiliated Entity” or “Refinanced by Non-Affiliated Entity,” choose the source of capital used for refinancing from the following options:
    • Financing provided by private sector sources ∙
    • Financing provided by philanthropic or other non-governmental sources 
    • Financing provided by state or local government program 
    • Financing provided by federal program
    • Financing provided by multiple types of sources 
    • Other

Indicate the Source of Capital Used for Refinancing.
Narrative response if “Other” is selected for Indicate the Source of Capital Used for Refinancing
Converted to Equity?

    • Select “NO” if the QLICI was assigned to the investment fund after the 7-year tax credit compliance period.
    • Select “YES” if the QLICI was assigned to the investment fund after the 7-year tax credit compliance period and the investment fund is owned or controlled by the QALICB or Affiliate of the QALICB.
Reason for the QLICI Charge-Off or Restructuring. 

Enter in the text box provided the “Reason for the QLICI charge off or restructuring.”
This field is required if transactions with a Loan Status of “Charged-Off’ or “Restructured with Charge-Off.”
Was the overall financing package to this QALICB intended to allow the QALICB to acquire all or a portion of the residual value of the tax credit equity?
Select “YES” or “NO” from the provided drop-down menu.
Was this financial note structured to allow the QALICB to acquire all or a portion of the residual value of the tax credit equity? 
Select “YES” or “NO” from the provided drop-down menu.
Quantify the value of the investment acquired by the QALICB at the end of the 7-year compliance period as a dollar amount.
Enter the value of the investment acquired by the QALICB in dollars.
Status of QALICB at end of tax credit period or date of dissolution, termination, or write-off.
Selection for transactions with ‘Purpose’ of any Real Estate option:
    • Placed into service. 
    • Not placed into service (if this option is selected, please elaborate below in ‘Comments on QALICB status’).

Selection for transactions with a Purpose of ‘BUSINESS’ or ‘MICRO’:
    • Continues as a going concern. 
    • No longer in existence service (if this option is selected, please elaborate below in ‘Comments) on QALICB status.

Comments on QALICB Status.

This field is required if “Not placed into service” or “No longer in existence” is selected for ‘Status of QALICB at end of tax credit compliance period or date of dissolution, termination, or write-off.’