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RESOLUTION #200919 (June 2019) VII. HOUSING QUALITY STANDARDS AND INSPECTIONS 24 CFR 982.401 and 24 CFR 982.507 INTRODUCTION HUD requires that all units occupied by families receiving Housing Choice
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How to fill out 401 and 24 cfr

01
To fill out Form 401, follow these steps:
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Provide the necessary information about the project, including the name, location, and description.
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Specify the type of funding being requested and any applicable certifications or assurances.
04
Complete the financial information section, including the estimated project cost and the funding sources.
05
Provide details about the ownership structure of the project and any related entities.
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Attach any required supporting documents, such as the project budget and financial statements.
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Review the completed form for accuracy and completeness before submitting it for approval.
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To fill out Form 24 CFR, follow these steps:
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Begin by providing basic information about the property, including the address and the type of project.
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Complete the section on the sources and uses of funds, specifying the amount of financing being sought and how it will be used.
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Provide details about the development team and their experience in similar projects.
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Complete the financial feasibility section, including the projected development costs and the expected revenue.
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Attach any required supporting documents, such as the project proforma and market analysis.
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Review the completed form for accuracy and completeness before submitting it for approval.

Who needs 401 and 24 cfr?

01
Form 401 and Form 24 CFR are typically required by developers, operators, and owners of affordable housing projects.
02
These forms are necessary when seeking funding or assistance from government agencies, such as the Department of Housing and Urban Development (HUD).
03
They help ensure compliance with applicable regulations and help determine eligibility for various housing programs and subsidies.
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401 refers to IRS Form 401, which is used to report various tax-related information. 24 CFR refers to Title 24 of the Code of Federal Regulations, which relates to Housing and Urban Development (HUD) regulations.
Entities that deal with federal housing programs, such as public housing agencies, and certain taxpayers may be required to file IRS Form 401 and comply with 24 CFR regulations.
To fill out IRS Form 401, taxpayers must report specific financial data as outlined in the form's instructions. For 24 CFR, compliance typically requires submitting information regarding housing programs and practices, as per HUD guidelines.
The purpose of IRS Form 401 is to facilitate income tax reporting for taxpayers, while 24 CFR establishes regulations for federal assistance programs to ensure compliance and reporting standards in housing.
Form 401 requires financial information such as income, deductions, and credits. 24 CFR requires data related to housing assistance, tenant demographics, and compliance with federal regulations.
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