What information do I need to provide on Form 8609?

You need to provide details about the building, including its identification number (BIN) assigned by the housing credit agency, the maximum qualified basis of the building, and the allocation of credit. Additionally, you must certify certain information regarding the building's compliance with low-income housing credit requirements.

Do I need to submit multiple Forms 8609 for a multiple building project?

Yes, a separate Form 8609 is required for each building in a multiple building project. This ensures that the allocation and certification for each building are accurately recorded.

How do I handle changes in the initial allocation before the close of the calendar year?

If there is a change in the amount of initial allocation before the end of the calendar year, you should file an amended Form 8609 instead of the original. Be sure to explain the reason for the amendment and complete all necessary entries.

What documents should I keep as a building owner?

As a building owner, you should retain a copy of the original Form 8609 received from the housing agency, all related Forms 8609-A, Forms 8586, and any Forms 8611. If applicable, also keep a copy of the election statement, binding agreement, or allocation document.

How do I file Form 8609 with the IRS?

To file Form 8609 with the IRS, complete Part II of the form after receiving the original, signed form with Part I completed by the housing credit agency. Make a copy of the completed original for your records, and file the original Form 8609 with the IRS no later than the due date (including extensions) of your first tax return with which you are filing Form 8609-A, Annual Statement for Low-Income Housing Credit.

Form 8609 2024-2025 - Fill Out Official Tax Forms Online

What is Form 8609?

Form 8609, Low-Income Housing Credit Allocation Certification, is an essential document for property owners seeking to claim low-income housing tax credits (LIHTCs). This form certifies that a building meets the criteria for these credits, which are issued by state or local housing credit agencies. By completing Form 8609, owners demonstrate their compliance with the necessary requirements, allowing them to benefit from tax incentives over a 10-year period. This process is crucial for supporting the development and maintenance of affordable housing projects.

What is Form 8609 used for?

It helps ensure everything is in order for tax credits related to housing:

Obtaining a housing credit allocation: Request credits from the housing agency for each eligible building.
Certifying information: Confirm compliance with low-income housing regulations.
Tracking allocations: Manage credits for multiple buildings in one project.
Recording details: Keep track of building ID, allocation amount, and service date.

How to fill out Form 8609?

1
The housing credit agency completes and signs Part I of Form 8609, assigning a unique Building Identification Number to each building.
2
The original signed form is then sent to the building owner.
3
The owner completes Part II, providing key details such as the eligible basis of the building, the minimum set-aside requirement, and the multiple building election.

Who is required to fill out Form 8609?

Form 8609, "Low-Income Housing Credit Allocation and Certification," is filled out by two parties: housing credit agency (Part I of Form 8609) and building owner (Part II of Form 8609).

Owners of residential low-income rental buildings are responsible for completing Part I of Form 8609 to obtain a housing credit allocation from their housing credit agency. They must provide specific details about their buildings to certify eligibility for the low-income housing credit.

After completion, the building owner submits a copy to the housing credit agency and retains one for their records. The agency completes Part II of Form 8609.

When is Form 8609 not required?

Form 8609, Low-Income Housing Credit Allocation Certification, isn’t required if you don’t claim the low-income housing credit. You also don’t need it if your project fails to meet eligibility criteria, like not reserving a minimum percentage of units for qualifying tenants or not adhering to income restrictions. Ensure you understand these conditions to avoid unnecessary filing.

When is Form 8609 due?

The deadline for Form 8609 is with your first tax return for the year you claim the low-income housing credit. You need to submit the original form to the IRS and a copy to the housing credit agency. Remember, you only submit Form 8609 once, but each year you will file Form 8609-A.

How to get a blank Form 8609?

Form 8609 is issued by the IRS and you can obtain a blank version on our platform. Remember, our website assists in filling and downloading forms, but it does not support filing.

This form is issued by the housing credit agency, usually a state or local agency responsible for low-income housing credit allocations.

How to sign Form 8609?

In order to claim the credit, you must have an original, signed Form 8609 (or copy thereof) issued by a housing credit agency assigning a BIN for the building. This applies even if no allocation is required (as in the case of a building financed with tax-exempt bonds). Given these requirements, a Simple Electronic Signature would not be sufficient for Form 8609. The IRS expects an original signature, which implies a more secure form of signing — digital or in ink.

Where to file Form 8609?

To submit Form 8609, complete and sign Part I. Then, send a copy of it along with Form 8610 to your housing credit agency.

Mail the original signed form directly to the IRS at the Philadelphia campus. Remember, submission is done by mail only; online filing is not permitted.