Are you the Authorized Representative of either a Certified Community Development Financial Institution (CDFI) or an organization that has received a Community Development Financial Institutions Fund (CDFI Fund) Award and/or Allocation? If so, to maintain your organization’s CDFI Certification status, you must submit the Annual Certification and Data Collection Report (ACR). Additionally, to ensure compliance with your Award, Assistance and/or Allocation Agreement(s) you must complete and submit the annual report(s) specified in these agreement(s).
Failure to file required annual compliance and Certification reports or advise the CDFI Fund of certain Material Events may result in default and/or noncompliance with your organization’s Award, Assistance and/or Allocation Agreement(s), or termination of your CDFI Certification.
The due dates to submit annual compliance report(s) vary by fiscal year end date and type of award, as well as by the specific terms within each organization’s individual Award, Assistance and/or Allocation Agreement(s). The due date for Certified CDFIs to submit the ACR also varies by fiscal year end date. This reminder is specifically for organizations with Award, Assistance and/or Allocation Agreements, as well as ACRs, which have an upcoming report(s) due by December 31, 2023.
The CDFI Fund recently released its revised CDFI Certification Application, ACR and Transaction Level Report. The CDFI Fund will resume accepting Certification Applications for non-certified organizations only in its Awards Management Information System (AMIS) on December 20, 2023. Currently Certified CDFIs are still required to submit an ACR in accordance with their existing ACR reporting schedule as listed in AMIS, to maintain their Certification status. Organizations are encouraged to review the revised Certification Application, ACR and TLR information on the CDFI Fund’s website to understand the scope of changes and new process requirements.
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