July 31, 2024

OHFA Forms with HOTMA Updates Are Now Available! 

OHFA has published new or updated forms to reflect the Housing Opportunity Through Modernization Act of 2016 (HOTMA) rule. The updated forms are found on OHFA’s HOTMA Forms webpage.

It is important to remember that use of the HOTMA forms is optional until January 1, 2025 which is when OHFA will fully implement HOTMA. On and after this date, these forms become mandatory for all new move-ins and recertifications. The new/updated forms reflect an effective date of August 1, 2024, and a mandatory use date of January 1, 2025. Click here to see what changes were made to the forms. The forms highlighted in orange reflect HOTMA updates. The other forms listed had minor, but necessary changes. If a form is not listed, this means there were no updates. 

OHFA will maintain all current or pre-HOTMA forms on our website so that industry partners who are not implementing the HOTMA rule prior to January 1, 2025, can still use the older forms. The pre-HOTMA forms will remain on our website until December 31, 2024. 

We are currently updating the OHFA Tenant Income Certification (TIC) to incorporate HOTMA changes. The TIC will be published no later than December 31, 2024. 

Questions regarding form changes must be directed to OHFA’s Compliance and DevCo Helpdesk.

Coming Soon: OHFA’s Suggested Compliance Forms Will Become Mandatory January 1, 2025!

All forms currently listed on OHFA’s website as Suggested Compliance Forms regarding income and asset verifications become mandatory effective January 1, 2025. Mandatory use of these verification forms is only required if they are used to verify tenant qualifications. 

For example, if a tenant provides two paystubs, OHFA does not require owners/management agents to also use OFHA’s verification of employment form. Put another way, if a tenant cannot provide appropriate supportive verification documents and the owner/management agent has to use third-party verification, then OHFA’s income and asset verification forms must be used. Owners/management agents cannot use their own version of OHFA verification forms.  

Why is this change occurring? OHFA is moving to ensure consistency in tenant files to help make the auditing process easier and more efficient for OHFA staff to review files. OHFA recognizes that owners/management agents who work in multiple states will have the challenge of ensuring staff are using the correct forms by state and specifically for Ohio. We also recognize software vendors may require their own version of an OHFA income and/or asset verification form. However, ensuring consistency in tenant files is a priority for OHFA. 

All forms listed under Certification Tools and Additional Forms on our website will also become mandatory effective January 1, 2025. 

Note: On December 31, 2024, OHFA will change the name of all Suggested Compliance Forms to Required Compliance Forms. 

Questions regarding this matter must be directed to OHFA’s Compliance and DevCo Helpdesk.

OHFA Is Moving to NAHMA Version 8, Which Impacts DevCo Online Tenant Events and XML Uploads

To comply with HOTMA requirements, OHFA is upgrading DevCo Online to accept tenant event XML files that conform to the National Affordable Housing Management Association’s (NAHMA’s) new 8.0 standard effective January 1, 2025. Owners/management agents will be required to report tenant events containing HOTMA information which is only possible through NAHMA 8.0. DevCo will still accept tenant event uploads in NAHMA 4.0 XML files, but the event data will then need to be updated with HOTMA information through a manual event entry form. The NAHMA 8.0 standard will add several new tenant events, such as new data for: 

• Awards
• Assets and household members
• Income

What action is required by the industry? Owners/management agents should begin planning now to upgrade to the NAHMA 8.0 standard. However, if it is not feasible to upgrade to 8.0, the NAHMA 4.0 standard will continue to be active (i.e., OHFA will not sunset it.), but owners/management agents may grow weary of having to manually enter data, including on TICs. Additional guidance will be issued on this matter in the coming months.  

LIHTC Compliance Certifications for Application Funding

OHFA receives LIHTC Compliance Certifications to verify if certain Ohio projects have been issued an uncorrected IRS Form 8823 that remains uncorrected after the end of a correction period. The LIHTC Compliance Certification is used to make determinations for funding LIHTC applications in other states. Many times, Certifications are submitted with the expectation that they can be processed the same day or within one to two business days. Effective immediately, OHFA will require 10 business days to process and return completed Certifications to senders.

Stay Informed! 

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