NMTC 201: NMTC Compliance

Wednesday, June 6, 2018 - 1:00pm to 5:00pm

« Back to Novogradac 2018 New Markets Tax Credit Spring Conference

Wednesday, June 6, 2018
Registration Cost: $350
 

Agenda*

*Agenda subject to change.

1-1:15 p.m.Welcome and Introductions
1:15-1:30 p.m.

Overview of Compliance Requirements

  • IRS vs. CDFI Fund requirements
  • Reporting deadlines
  • NMTC Recapture Risks
  • Allocation Agreement requirements
  • Advisory Board requirements
1:30-2 p.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 

2-2:20 p.m.

Substantially-All Test

  • Overview
  • Direct tracing vs. safe-harbor
  • Practical issues in applying tests
  • QLICI default and foreclosure implications
2:20-2:40 p.m.

Cash Distributions

  • How to calculate the operating income safe harbor
  • Corporations: earnings & profits vs. operating income
  • Common pitfalls and ways to mitigate 
2:40-2:50 p.m.Break
2:50-3:30 p.m.

CIIS Reporting

  • Overview of ILR and TLR
  • Understanding various CIIS datapoints
  • CY changes
3:30-4:15 p.m.

CDFI Fund - Annual Update

  • CIIS 15.0 and upcoming changes
  • CDE Dissolution and QEI Closeout Report
  • ATS Updates
4:15-4:30 p.m.Q&A with CDFI Fund
4:30-5 p.m.

End of Compliance Period - Final Q&A with Novogradac

  • QEI Closeout Report
  • Final CIIS Reporting