HUD Issues ANOTHER Global Extension for Multifamily Submissions with 6/30/2015 Fiscal Year Ends

Today (October 27, 2015) HUD posted another global extension for Multifamily Submissions.  The notice is as follows:
  • Global Extension for Owners with 6/30/15 Fiscal Year Ends

    A recent security breach at the U.S. Department of Census has caused the Federal Audit Clearinghouse (FAC) to be taken down. As a result, submissions of Data Collection Forms and reporting packages are not able to be made. FAC originally provided an extension until October 31, 2015, but they’ve since extended the due date to December 31, 2015. Since the HUD Agreed-Upon procedures engagement performed on FASS submissions includes procedures comparing information in the Data Collection Form to the information submitted to HUD via FASS, HUD is extending the due date for financial statements with fiscal year ending June 30, 2015, until December 31, 2015. This is a global extension and will apply to all submissions including owner certified and audited.

    This may also impact December 31, 2014 audit submissions facing the 9 month A-133 filing deadline which the FAC extended to December 31, 2015. If needed, those auditees should file for an extension electronically using the FASSUB.

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