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Mandatory Annual
Report will Replace Three-Year Recertification Requirement for all CDFIs
The Community Development Financial Institutions Fund (CDFI
Fund) launched today a new mandatory Annual Certification Report for all
certified Community Development Financial Institutions (CDFIs). The Annual Certification Report, which must
be completed in the CDFI Fund’s Awards Management Information System (AMIS), will
allow the CDFI Fund to annually assess certified CDFIs’ compliance with
certification rules.
How Does this Affect
My Organization?
All certified CDFIs must comply with the annual reporting
compliant to maintain their certification. Reporting deadlines will be based upon
the CDFI’s fiscal year end. Beginning with organizations with fiscal years that
end in April through September, the CDFI Fund will issue replacement CDFI certification
letters that outline the new requirement and reporting deadlines. The new
certification letter replaces the previously-implemented three year term for
certification.
Failure to file an Annual Certification Report will result
in a loss of certification status and can lead to additional sanctions.
How Do I Complete the
Report?
The CDFI Fund will send new certification letters and
reporting requirements to CDFIs on a rolling basis, beginning with CDFIs with
fiscal years ending in April through September. CDFIs will use data from their
last complete fiscal year to complete the report for most organizational
financial information (fiscal year (FY) 2015 in most cases).
The reporting deadlines for the first annual report is as
follows:
- Fiscal Year End from April 1, 2015 to September
30, 2015 - Report Due April 30, 2016
- Fiscal Year End October 1, 2015 to March 31,
2016 – Report Due July 31, 2016
The CDFI Fund will provide additional information and
guidance about deadlines for the report in future years after the completion of
the FY 2016 reporting requirement.
Guidance and
Instructions
The CDFI Fund has posted to its website’s Certification
page instructions for completing the Annual Certification Report, along
with a helpful glossary of terms. These
guidance documents can be found on www.cdfifund.gov/cdficert,
under How to Apply Step 2: Reporting.
Webinars
The CDFI Fund will host training webinars on Tuesday, March
15, 2016 at 2:00 p.m. ET and Thursday, March 17, 2016 at 2:00 p.m. ET to provide
training for CDFIs that must report in April.
Access information for the webinars can be found on the CDFI Fund’s
Certification website under How to Apply Step 2: Reporting. Additional webinars will also be scheduled to
assist CDFIs with later reporting dates. The CDFI Fund will release information
about additional webinars when available.
Questions
For questions about the Annual Certification Report, please
contact the Certification, Compliance Monitoring and Evaluation Help Desk at ccme@cdfi.treas.gov or (202) 653-0421.
The CDFI Fund encourages technical questions about AMIS to be submitted through
AMIS Service Requests or by e-mailing AMIS@cdfi.treas.gov.
For more information about the CDFI Fund, please visit www.cdfifund.gov.
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