HUD is giving an automatic 30-day extension to the deadline for filing 2008 calendar year end Annual Financial Statements. This extension has been authorized by the Office of Multifamily Housing Programs, Office of Asset Management because multi-family property owners have experienced problems submitting their financial statements due March 30, 2009 because of "HUD infrastructure performance problems." The 30-day extension applies only to owners whose project fiscal year ends 12/31/2008. Owners/auditors should not request an extension in FASS; the extension has been automatically implemented.
The extended FASS due date is 04/30/2009. According to the HUD e-mail, owners who submit the financial statements on or before 4/30/2009 will not be referred to the Departmental Enforcement Center or be flagged in the Active Partners Performance System. Although owners do not have to request an extension, Colleen Bloom from the American Association of Homes and Services for the Aging recommends that providers keep a copy of this notice in your property files. Bloom says that the REAC/FASS page at http://www.hud.gov/offices/reac/products/prodmf.cfm still indicates that no extension will be provided and believes this page will be updated shortly to reflect the extension until April 30. For Further Information: Contact Colleen Bloom at cbloom@aahsa.org.