National Equity Fund, Inc. National Equity Fund, Inc.

Extraordinary things happen when you have great partners
Since 1987, National Equity Fund® has invested more than $13 billion revitalizing neighborhoods,
fostering economic growth and creating affordable sustainable housing.

Reporting Requirements

DOCUMENT SUBMISSION

Due to the volume of reports received, NEF can no longer accept faxed or mailed submissions. Learn about how to submit documents.

Reporting deadlines 
Sample documents
Reporting information

REQUIRED REPORTS

The following information is required by NEF, Inc. Access the forms needed to fulfill your reporting requirements below.

Monthly Construction & Lease-Up Report
Quarterly Project Status Report
Partnership Tax Returns
Certified Rent Rolls
Permanent Insurance Policies

MONTHLY CONSTRUCTION & LEASE-UP

Development period project status:
1. Owner's Sworn Statement
2. Application for Payment page (AIA G702)
3. Architect's Report, if available
4. Certificates of Occupancy (when delivered)

Reporting Begins:
After closing, at 1st full month and until development budget is fully paid out. If leasing continues after full pay-out, then Leasing Status page is to be sent until full occupancy is achieved.

Due Date:
Within 10 business days of project's monthly draw meeting.

Forms:
Download Monthly Construction & Lease-up form.

QUARTERLY PROJECT STATUS REPORT

Financial report:
For investor reporting, as well as showing the financial and operational performance of completed projects.
1. Completion of NEF's narrative page
2. Rent roll (include information on commercial space if applicable)
3. Year-to-date income statement
4. Balance sheet

Reporting Begins:
After one full quarter of operation or when project is 50% leased.

Due Date:
(Narrative page and end of year rent roll only)
Quarter 1: April 15
Quarter 2: July 15
Quarter 3: October 15
Quarter 4: January 15

PARTNERSHIP TAX RETURNS

Tax Matters Partner:
The general partner is responsible for making sure tax returns are filed on time and partnership financial statements are prepared.

Reporting Begins:
Year-end after partnership formation

Due Date:
Annually, 60 days after year-end, on February 28.

CERTIFIED RENT ROLLS

At Qualified Occupancy (QO):
NEF's rent roll form, showing household sizes, number of bedrooms and incomes:
a. Rent roll
b. Owner's Certification Form
c. Managing Agent's Low Income Certification form
d. Qualified Income Levels form

Annually after QO Year:
A copy of annual certification required by the allocating agency.

Reporting Begins:
QO: When project reaches qualified occupancy (all qualified units have be leased)
Annually: Copy of certification submitted to allocating agency

Due Date:
QO: three weeks after sponsor is notified of reaching QO
Annually: at the same time the annual report is filed with allocating agency

PERMANENT INSURANCE POLICIES

Liability Coverage and General Property Insurance
1. Copies of policies or binders
2. NEF insurance payment form

Reporting Begins:
When Builders Risk is converted to permanent policy.

Due Date:
Within two weeks of policy expiration and new insurance is in effect.

Key Contacts

Asset Management

For assistance with asset management questions of NEF properties: