NMTC 201: NMTC Compliance

Wednesday, June 7, 2017 - 9:00am to 4:00pm

« Back to Novogradac 2017 New Markets Tax Credit Spring Conference

Wednesday, June 7, 2017
Cost with conference registration: $325
Workshop only: $425

Agenda*

*Agenda subject to change.

9-9:15 a.m.Welcome and Introductions
9:15-9:45 a.m.

Overview of Compliance Requirements

  • IRS vs. CDFI Fund requirements
  • Reporting deadlines
  • NMTC Recapture Risks
  • Allocation Agreement requirements
  • Advisory Board requirements
9:45-10:45 a.m.

Qualified Active Low-Income Community Businesses

  • The basic tests: income, property, & services
  • What is nonqualified financial property?
  • Special considerations for real estate businesses
  • Reasonable expectations safe harbor considerations
  • Documenting compliance with Allocation Agreement 
10:45-10:55 a.m.Break
10:55-11:25 a.m.

Substantially-All Test

  • Overview
  • Direct tracing vs. safe-harbor
  • Practical issues in applying tests
  • QLICI default and foreclosure implications
11:25a.m.-Noon

Cash Distributions

  • How to calculate the operating income safe harbor
  • Corporations: earnings & profits vs. operating income
  • Common pitfalls and ways to mitigate 
Noon-1 p.m.Lunch
1-2 p.m.

CIIS Reporting

  • Overview of ILR and TLR
  • Understanding various CIIS datapoints
  • CY changes
2-2:15 p.m.Break
2:15-2:45 p.m.

CDFI Fund - Annual Update

  • CIIS 14.0 and upcoming changes
  • CDE Dissolution and QEI Closeout Report
  • ATS Updates
2:45-3:15 p.m.Q&A with CDFI Fund
3:15-4 p.m.

End of Compliance Period - Final Q&A with Novogradac

  • QEI Closeout Report
  • Final CIIS Reporting