HUD Issues an Additional FASS Filing Extension for Owners with 6/30/2015 Fiscal Year Ends

On October 27, 2015, HUD posted an additional global extension to December 31, 2015 for those owners with fiscal years ending June 30, 2015 needing to submit annual financial statements to HUD’s Financial Assessment of Multifamily Housing (FASS-MF) system.  This is a global extension and applies to all owner-certified and audited submissions.

The extension is a result of security breach at the U,S. Department of Census which has impacted access to the Federal Audit Clearinghouse (FAC) where Data Collection Forms are submitted.  Since the HUD Agreed-Upon procedures engagement performed on FASS submissions includes comparing information to the Data Collection Forms in the FAC, HUD is extending their submission deadlines to follow the extensions provided by the FAC.  FAC and HUD previously provided an extension until October 31, 2015.

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.