Deadline Approaches for Annual Certification of Bond-Financed Residential Rental Properties

Monday, March 23, 2020 - 3:45pm

Operators of qualified residential rental projects financed by tax-exempt facility bonds under Internal Revenue Code Section 142(d) are reminded that Form 8703 (Annual Certification of a Residential Rental Project) is due annually by March 31 for the prior calendar year. Form 8703 is required during the qualified project period, which begins on the day that 10 percent of the residential units are occupied, and generally ends 15 years after the date that 50 percent of the residential units are occupied, unless private activity bonds issued for the project are still outstanding or if any assistance is still being provided to the property under Section 8 of the United States Housing Act of 1937. See the instructions to the form for more information. For assistance, please reach out to Jeff Nishita.