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Affordable Housing Credit Claim Form

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State of New Mexico - Taxation and Revenue Department
Affordable Housing Tax Credit Claim Form

Rev. 9/22/2011

Instructions for Using This Form: When claiming the affordable housing tax credit, this form must accompany the CRS-1, PIT-1, S-Corp, CIT-1, FID-1, TRS or E911 return to which the taxpayer wishes to apply the credit. If filing electronically, mail Form RPD-41301, Individual Income Tax Declaration for Electronic Filing and Transmittal, and Form RPD-41301 to: New Mexico Taxation and Revenue Department, PIT Edit Error, P.O. Box 5418, Santa Fe, New Mexico 87502-5418. The holder of an investment voucher may apply all or a portion of the value (approved tax credit amount) of the investment voucher as an affordable housing tax credit against the holder's modified combined tax liability (see definition on page 3), personal income tax, or corporate income tax liability. Any balance may be carried forward for up to five years from the end of the calendar year in which the investment voucher for the affordable housing project was originally issued, or the original voucher date. To claim the credit, the holder must attach a completed Form RPD-41301, Affordable Housing Tax Credit Claim Form, to the return for which the credit may be claimed and mail it to the address on the tax return. Any payment due or other required attachments must also be included.

For assistance call 505-476-3683.

The holder is the individual or business to whom an investment voucher has been issued or to whom the investment voucher has been sold, exchanged or otherwise transferred. When an investment voucher is transferred to a new holder, notification must be made to the New Mexico Taxation and Revenue Department and New Mexico Mortgage Finance Authority (MFA) within ten days of the transfer by submitting to the MFA a completed Affordable Housing Tax Credit Transfer Form. The new holder will receive notification of approval of the transfer and a new voucher number will be issued for the investment voucher or the portion of the balance that was transferred. A taxpayer may not claim this tax credit until the transfer investment voucher and subsequent voucher number have been issued. (See more about Transfers on page 3.)

1. Complete this section if this claim includes one or more investment vouchers not previously claimed by the holder named above; otherwise, enter zero on line 1c and go to line 2. For each investment voucher issued to the holder, but not previously included in the calculation of total available credit on a prior claim form, attach a copy of the investment voucher(s) and enter the information requested on lines 1a through 1c. If more than one investment voucher is claimed, complete and attach Schedule B. Enter the total value of the investment voucher(s) claimed in this section on line 1c.

a. Enter the investment voucher number.

1a.

b. Enter the "original voucher date" identified on the transfer investment voucher.

1b.

c. Enter the value of the investment voucher or, if the investment voucher has been transferred, the transfer value.

1c. $

2. Calculate the total unused credit available for carry forward from prior claims on Schedule A and enter here. Include a copy of Schedule A on page 2 of this form.

2.

3. Enter the sum of lines 1c and 2. This is the total credit available for application.

3.

4. Enter the portion of total credit available (from line 3) you are claiming on the attached CRS-1, PIT-1, S-Corp, CIT-1, FID-1, TRS or E911 return. To determine the amount that may be claimed against a tax return, see “About this credit” on page 3 of this form.

4.

NOTE: Failure to attach this form and required attachments to your New Mexico return will result in denial of the credit.

Under penalty of perjury I declare that I have examined this claim, and to the best of my knowledge and belief, it is true, correct and complete.

Schedule A

Worksheet to calculate the total unused credit available for carry forward.

Complete Schedule A of Form RPD-41301, Affordable Housing Tax Credit Claim Form, if you have investment vouchers with unused value, which you have included in the calculation of total credit available on a previously filed Form RPD-41301, Affordable Housing Tax Credit Claim Form.

(a) Investment voucher number - If an investment voucher issued to a holder claiming the affordable housing tax credit has an unused balance and was reported on a previously filed Form RPD-41301, Affordable Housing Tax Credit Claim Form, enter the investment voucher number(s) issued to or transferred to the holder. The person to whom an investment voucher is issued, the holder, may claim an affordable housing tax credit against certain taxes and surcharges imposed on the holder for the value (approved tax credit amount) of the investment voucher that has been issued to them. The holder may not claim a credit for any unused balance after five years from the end of the calendar year in which the investment voucher for the affordable housing project was originally issued, or the original voucher date. (See more about Transfers on page 3.)

(b) Original voucher date of the investment voucher - For each investment voucher reported in column (a), enter the original voucher date of the investment voucher. The original issue date is the date the original investment voucher was issued for an affordable housing project approved and certified by the New Mexico Mortgage Finance Authority. If the investment voucher is transferred and a subsequent voucher number is issued, the original voucher date is the date that the first investment voucher is issued for that affordable housing project.

(c) Value of investment voucher or the transfer value of a transfer investment voucher - For each investment voucher reported in column (a), enter the value of the investment voucher or the transfer value if an investment voucher has been transferred.

(d) Total credit claimed on previously filed returns - For each investment voucher listed in column (a), enter the total amount of affordable housing tax credits that have been claimed previously against the value of the investment voucher. Do not include an amount intended to be applied to the return filed with this claim form.

(e) Unused credit available for carry forward - Subtract column (d) from column (c).

Total carry forward available - Enter the sum of column (d) here and on page 1, line 2, of Form, RPD-41301, Affordable Housing Tax Credit Claim Form.

(a) Investment voucher number (b) Original voucher date of the investment voucher (c) Value of the investment voucher or the transfer value of a transfer investment voucher (d) Total credit claimed on previously filed returns (e) Unused credit available for carry forward [(c) - (d)]

TOTAL carry forward available
Enter the sum of column (d) here and on line 2 of Form RPD-41301, page 1.

Schedule B

Complete and attach Schedule B to Form RPD-41301, Affordable Housing Tax Credit Claim Form, if you have more than one investment voucher to claim.

For each investment voucher, enter the voucher number, original voucher date, and the value of the investment voucher or, if the investment voucher has been transferred, the transfer value for the tax year of this claim. Enter the sum of all amounts in column (c) in the TOTAL box below and on line 1c of Form RPD-41301.

Attach a copy of all investment vouchers for which you are claiming the affordable housing tax credit.

(a) Voucher number (b) Original voucher date (c) Value of investment voucher or transfer investment voucher

TOTAL credits allowed
Enter the sum on line 1c on the first page of this form.

Instructions

About this credit: The Mortgage Finance Authority (MFA) may issue investment vouchers to persons who have invested in approved affordable housing projects. MFA may issue an investment voucher to a person who has made an investment of land, buildings, materials, cash or services for an affordable housing project approved by MFA or for a trust fund administered by MFA. The vouchers, good for up to 50% of the investment, may be sold or transferred. Affordable housing projects cover land acquisition, construction, materials, building acquisition, remodeling, improvement, rehabilitation, conversion or weatherization for single family residential housing or multifamily residential housing approved by MFA. After receiving the investment vouchers from MFA, the taxpayer may apply them for a credit against the taxpayer's modified combined tax liabilities, personal income tax, or corporate income taxes, and the taxpayer may carry unused credit forward for five years.

NOTE: Effective July 1, 2010, this law is expanded to include all counties, and adds materials to the list of eligible investments.

Transfers - The credit may also be sold, exchanged or otherwise transferred to another holder. When an investment voucher is transferred in whole or in part to a new holder, New Mexico Taxation and Revenue Department and MFA must be notified within 10 days of the transfer by submitting a completed Affordable Housing Tax Credit Transfer Form to MFA. The new holder will be notified of approval of the transfer and issued a new investment voucher number. The original transfer form will identify the new holder, the new voucher number and the transfer amount, but will also identify the original voucher date. The original voucher date is the date the original investment voucher was issued for the affordable housing project. Upon receipt of the approved transfer form, the new holder may apply the affordable housing tax credit against future returns, but may not carry forward any credit for more than 5 years from the calendar year in which the original investment voucher was issued. For example, if an affordable housing project was approved and later certified by MFA, and the resulting original investment voucher was issued to Holder A on January 15, 2006, A may not claim the Affordable Housing Tax Credit for any unused balance of the investment voucher after December 31, 2011. If all or a portion of the investment voucher balance is subsequently transferred to holder X, X may not claim the tax credit for the transferred balance after December 31, 2011. The original voucher date for the original investment voucher issued to A and the transfer investment voucher issued to X is January 15, 2006.

“Modified combined tax liability” means the total liability for the report period for gross receipts tax less any local option gross receipts tax due (5.125% of taxable gross receipts), compensating and withholding taxes, interstate telecommunications gross receipts tax, E911 surcharges and telecommunications relay surcharges, minus any credit (other than the affordable housing tax credit) applied against these taxes. Modified combined tax liability does not include amounts collected for local option gross receipts taxes by governmental gross receipts taxes.

How to apply for the credit: Taxpayers seeking the affordable housing tax credit must contact the New Mexico Mortgage Finance Authority (505-767-2262 or 800-444-6880) for approval of the project and issuance of the investment vouchers.

How to claim the credit: When completing Form RPD-41301, Affordable Housing Tax Credit Claim Form, report new investment vouchers on line 1, and attach Schedule A if you have any investment vouchers that were previously claimed. Schedule A is used to compute any carry forward credits allowable. Attach Schedule B if there are more than one investment vouchers to claim.

Attach Form RPD-41301, Affordable Housing Tax Credit Claim Form, to the return for taxes against which you wish to apply the credit. Enter the credit claimed on the applicable line of the New Mexico income tax form, CRS-1, PIT-1, S-Corp, CIT-1, FID-1, TRS or E911, or underpay the amount recorded as due on forms CRS-1, TRS or E911 by the amount of the credit claimed. If filing electronically, mail Form PIT-8453, Individual Income Tax Declaration for Electronic Filing and Transmittal, and Form RPD-41301 to: New Mexico Taxation and Revenue Department, PIT Edit Error, P O Box 5418, Santa Fe, New Mexico 87502-5418. The credit to be applied may not exceed the tax liability due on the return. First, apply unused credit from the investment voucher with the oldest original voucher date to the tax liability. The credit may not be claimed against local option gross receipts tax imposed by any county or municipality, or the governmental gross receipts tax. Any balance of the affordable housing tax credit may be carried forward for up to 5 years from the calendar year during which the original investment voucher used to claim the affordable housing tax credit was issued.

E-mail Addresses: New Mexico Mortgage Finance Authority -- www.housingnm.org
New Mexico Taxation & Revenue Department -- www.tax.newmexico.gov

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What the Affordable Housing Credit Claim Form Is

Affordable Housing Credit Claim Form is a standardized document used to claim tax credits or reimbursements tied to affordable housing programs, including federal and state low-income housing incentives. It documents project eligibility, taxpayer identification, allocation amounts, and required certifications. Organizations use it to notify tax authorities or allocating agencies of credit claims, reconcile allocated credits with project records, and establish an audit trail. The form often requires attachments such as cost reports, certification letters, and occupancy records. Accurate completion supports compliance with program rules and prevents processing delays or penalties.

Why Completing the Form Carefully Matters

Filing an Affordable Housing Credit Claim Form documents eligibility for tax credits, creates a clear audit trail, and helps allocate financial benefits to qualifying projects. Accurate claims reduce audit risk, support funding continuity for affordable units, and facilitate compliance with IRS and state program requirements.

Why Completing the Form Carefully Matters

Who Typically Prepares and Submits These Claims

Common filers include developers, syndicators, and nonprofit housing authorities responsible for claiming credits and certifying project compliance to tax agencies.

  • Low-income housing developers managing allocation and compliance across multiple projects.
  • Syndicators tracking investor allocations, credits sold, and investor reporting obligations.
  • Nonprofit housing authorities administering program certifications, occupancy records, and recapture prevention.

A clear submission path reduces review cycles, supports investor reporting, and helps meet regulatory documentation requirements.

Core Sections to Include on a Professional Claim Form

Essential sections define claimant identity, project details, allocation amounts, certifications, supporting attachments, and signature blocks to satisfy program and tax authority checks.

Claimant Info

Provide legal entity or individual name, taxpayer identification number (TIN or EIN), mailing address, and contact person. Ensure the TIN matches IRS records to avoid backup withholding or processing delays.

Project Details

Enter project name, physical address, unit counts by income level, placed-in-service date, and allocation authority. Accurate unit and income data determine eligible credit amounts and audit outcomes.

Allocation Amounts

Report total credit allocated, annual credit amounts, and any carryforward or recapture adjustments. Include calculations and references to allocation letters or state agency authorizations documents.

Certifications

Include required owner, developer, and management certifications attesting to compliance with low-income set-aside, rent limits, and tenant qualification rules. Signatures must exactly match authorized signers.

Supporting Docs

Attach cost certification, tenant income certifications, utility allowance schedules, and allocation letters. PDFs should be legible and referenced in the main form to streamline review and audits.

Signature Block

Provide printed names, titles, signature dates, and contact details for each authorized signer. If notarization or witness signatures are required by state law, include those acknowledgements.

Security and Compliance Considerations

Encryption: TLS 1.2 and 1.3; AES-256 at rest
Certifications: SOC 2 Type II; ISO 27001; PCI DSS
HIPAA: HIPAA-compliant; BAA required for PHI
eSign Laws: ESIGN Act and UETA supported
Audit Trail: Detailed timestamps, IPs, and action logs
Accessibility: WCAG 2.0 Level AA compliant

Key Penalties and Legal Risks to Avoid

Late Filing: IRC §6721 penalties apply
Incorrect TIN: 24% backup withholding risk
Intentional Disregard: Higher penalties, no cap
Recapture Risk: Credits may be recaptured
Denial of Credit: State agencies may reject claim
Audit Exposure: Documentation triggers IRS or state audit

Step-by-Step: How to Complete and Submit the Claim

Follow these steps to complete and submit the Affordable Housing Credit Claim Form accurately and securely.

  • 01
    Gather Documents: Collect allocation letter, cost reports, and tenant records.
  • 02
    Confirm Eligibility: Verify income tests and rent limits per allocation.
  • 03
    Complete Form: Enter numeric calculations and attach supporting PDFs.
  • 04
    Submit: Send to state agency and retain certified copies.

Typical Electronic Submission Flow

Typical submission flow for electronic claim filing and agency review cycles is outlined below sequentially.

  • Prepare Packet: Assemble form, attachments, and calculation schedules.
  • eSign: Authorized signers apply electronic signatures following ESIGN requirements.
  • File: Upload to agency portal or submit by certified mail.
  • Agency Review: Agency verifies eligibility, may request clarifications.

Configuring a Digital Workflow for Claims

Configure a digital workflow to collect signatures, manage attachments, and route the form for agency and investor review.

Field Configuration
Signer Authentication Methods Email link; SMS code; optional KBA for high assurance.
Document Format Support PDF and DOCX accepted; attachments allowed.
Routing Order Sequential or parallel routing by role.
Retention Settings Auto-archive and exportable audit logs.

Platform Capabilities to Check Before eSubmission

Use an eSignature platform compatible with agency portals, PDF/A exports, and secure storage when preparing electronic claim submissions.

  • File Formats: PDF, PDF/A, and DOCX supported
  • Integrations: Connectors for NetSuite, Salesforce, Google Workspace
  • Security: Two-factor and SSO options available

Typical Deadlines and Time-Sensitive Considerations

Key filing and reporting deadlines vary by program and tax year; confirm agency schedules before submitting.

Annual Claim Deadline:

Varies by state program; often tied to tax year

Investor Reporting Deadline:

Provide credit allocations to investors by calendar year end

Amendment Window:

Corrections accepted within agency-specified period

Backup Withholding Trigger:

Missing or incorrect TIN can trigger 24% withholding

Audit Response Time:

Respond to agency inquiries within requested timeframe to avoid recapture

Baseline eSignature Pricing and Compliance Comparison

Comparison of baseline eSignature vendor pricing and compliance features relevant to Affordable Housing Credit Claim Form submissions.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Practical Tips to Reduce Errors and Speed Review

Follow these best practices to reduce errors, accelerate approval, and preserve evidentiary value for credit claims.

Verify taxpayer and project identifiers
Cross-check EIN/SSN, project PID, and allocation reference numbers against agency records before submission. Mismatched identifiers commonly trigger audits, delay processing, and may lead to backup withholding or recapture inquiries, increasing administrative burden and legal exposure.
Attach clear supporting documentation and spreadsheets
Include legible cost certifications, tenant income schedules, and signed owner certifications. Reference each attachment within form fields and use searchable PDF text when possible to speed agency review and enable electronic indexing for audits.
Use consistent dates and numeric formats
Enter all dates as MM/DD/YYYY and use consistent currency formatting. Inconsistent formats can produce calculation errors, delay reconciliation, and complicate comparisons across allocation years during audits. Standardize rounding and show formulas in attachments.
Preserve signed originals and digital logs
Keep signed PDFs, audit trails, and notarization records in secure storage for the retention period. Ensure exportable logs include timestamps, IP addresses, and signer authentication methods to support any future compliance review.

Examples: How Claims Play Out in Practice

Real-world examples illustrate common claim scenarios, documentation sets, and agency interactions for Affordable Housing Credit Claim Form filings.

Developer Claim

A mid-size developer claimed credits after completing rehabilitation on a 50-unit property and compiling cost certifications and tenant income documentation.

  • Used electronic submissions and eSign to streamline approval.
  • The agency requested a supplemental occupancy report; because the developer preserved dated tenant files, responded within ten business days, avoided recapture, and maintained investor confidence through transparent documentation and timely communication with syndicator.

Nonprofit Certification

A nonprofit housing authority submitted claims for newly constructed affordable units funded by state credits and federal gap financing, compiling occupancy and rent schedule evidence.

  • Included board resolution and owner certification.
  • State reviewer requested clarification on in-service date; the authority provided stamped invoices and third-party cost certifications within five days, preserving credit allocation and facilitating investor tax reporting and regulatory compliance confirmation letters.

Representative Roles Involved in Claiming Credits

Owner Representative

The authorized owner representative signs certifications, certifies cost reports, and confirms tenant eligibility. They must have documented signing authority, and agencies often request corporate resolutions or power of attorney if the signer is not listed on allocation documents.

Syndicator Contact

The syndicator manages investor allocations, distributes credit certificates, and requests corrected filings when discrepancies occur. They use submitted forms to reconcile investor tax schedules and may require additional documentation for secondary market transactions.

Frequently Asked Questions and Quick Answers

Answers to common questions about completing, signing, and submitting Affordable Housing Credit Claim Forms, and dealing with agency requests.


Need help? Contact support

Milestones: From Preparation to Agency Closeout

Key milestones from preparation through agency closeout and monitoring for Affordable Housing Credit Claim Form processing.

01

Preparation

Assemble documents, calculate credits, and verify identifiers

02

Submission

Electronically file or mail certified copies per agency instructions

03

Agency Review

Agency requests clarifications or issues preliminary findings

04

Closeout

Resolve agency comments and retain final records

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