COMPLIANCE REPORTING

BRIEF OVERVIEW

We assist with the preparation and submission of all related CDFI Compliance Reporting

CDFI CERTIFICATION COMPLIANCE REQUIREMENTS

The CDFI Fund launched on March 3, 2016 a new mandatory Annual Certification and Data Collection Report (ACR) for all certified Community Development Financial Institutions CDFIs, which must be completed in the CDFI Fund’s Awards Management Information System (AMIS). This allows the CDFI Fund to annually assess certified CDFIs’ compliance with certification rules.

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The ACR requires your organization to annually assess and report on any changes to criteria supporting your CDFI certification, as well as some additional organizational, financial and other data. The CDFI Fund will use this report to monitor your compliance with certification criteria and to collect data to gain greater insight on the CDFI industry.

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All certified CDFIs must comply with the applicable annual reporting requirements to maintain their certification. CDFIs are now required to submit their ACR within 90 days of the end of their organization’s fiscal year. Failure to file a required ACR may result in a loss of certification status and may lead to additional sanctions for CDFIs that are program Recipients.

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We can assist you with the preparation and submission of this ACR.

COMPLYING WITH BEA AWARDS

BEA recipients must file a "Use of BEA Program Award Report" to prove that they invested the amount of their award in a BEA-eligible Investment Area in accordance with the terms of their award agreement. We work with you strategically in the preparation of this report to maximize future awards and ensure that you remain compliant.

COMPLYING WITH FINANCIAL ASSISTANCE AGREEMENTS

Complying with Financial Assistance agreements under the CDFI Funding Program are more labor intensive and go into greater detail than other CDFI programs.  As we track your progress in meeting the Performance Goals & Measures contained in your assistance agreement, we remain in contact with staff to ensure that you remain on track and in compliance with your award for the entire three-year reporting period.