Instructions For Form Dtf-627.1 - Low-Income Housing Credit Collateral Security (Page 2 of 2) in pdf

DTF-627.1-I (9/04) (back)

When and where to file

Specific instructions

Send Form DTF-627.1, in duplicate, within 60 days after disposition

The building identification number (BIN) is the number assigned to

of the building or interest therein by registered mail to:

the building by the New York State Division of Housing and

Community Renewal (DHCR) on Form DTF-625, Low-Income

INCOME TAX AUDIT ADMINISTRATOR

Housing Credit Allocation Certification .

INCOME/FRANCHISE DESK AUDIT BUREAU

BUILDING 9 – ROOM 430

Collateral security amount

W A HARRIMAN CAMPUS

Use the collateral security amount worksheet below to calculate

ALBANY NY 12227-0170

the collateral security amount. See Federal Rev. Rul. 90-60 for

Attach a copy of Form DTF-627.1 to your franchise tax or income

additional information on the methodology for determining the bond

tax return for the year in which the disposition of the building or

amount.

interest therein occurred. On your income tax return, in the space

If the amount from line 5 of the worksheet is not an even multiple of

to the left of the entry space for reporting the recapture of the

$100, increase the bond amount to the next higher multiple of $100.

low-income housing credit, also write Form DTF-627.1 attached.

Private delivery services

Collateral security amount worksheet

If you choose, you may use a private delivery service, instead of

1 Total credits taken in previous

the U.S. Postal Service, to file this Form DTF-627.1. However, if, at

years and any additional

a later date, you need to establish the date you filed this form, you

credits you anticipate claiming

cannot use the date recorded by a private delivery service unless

for any year or portion thereof

you used a delivery service that has been designated by the U.S.

preceding the date of

Secretary of the Treasury or the Commissioner of Taxation and

disposition ................................

Finance. (Currently designated delivery services are listed in

2 Federal bond factor amount .........

Publication 55, Designated Private Delivery Services. See

3 Multiply line 1 by line 2 .................

Need help? below for information on ordering forms and

4 Percentage of taxpayer’s total

publications.) If you have used a designated private delivery

interest in the qualified

service and need to establish the date you filed Form DTF-627.1,

low-income building

contact that private delivery service for instructions on how to

disposed of ...............................

obtain written proof of the date your Form DTF-627.1 was given to

5 Collateral security amount

the delivery service for delivery.

required to be posted (multiply

line 3 by line 4; enter here

and on Form DTF-627.1 ) .........

Need help?

Instructions for worksheet

Internet access:

Line 1 — Enter the total amount of the credits claimed on the

(for information, forms, and publications)

building from Part I of Form(s) DTF-624, Claim for the

Low-Income Housing Credit, you have filed. Include any

additional credits you anticipate claiming for any period preceding

Fax-on-demand forms: Forms are

the date of disposition. Do not include credit amounts for which a

available 24 hours a day,

bond was previously posted, or credits claimed on additions to

7 days a week.

1 800 748-3676

qualified basis as determined under IRC section 42(f)(3).

Line 2 — Enter the federal bond factor amount corresponding to

Telephone assistance is available from 8:00

A.M.

the month in the compliance period in which the disposition

5:00

(eastern time), Monday through Friday.

P.M.

occurred and the first year of the building’s credit period. The

Internal Revenue Service (IRS) announces the monthly bond

To order forms and publications:

1 800 462-8100

factor amounts in a revenue ruling published in the Internal

Business Tax Information Center:

1 800 972-1233

Revenue Bulletin.

Personal Income Tax Information Center: 1 800 225-5829

Line 4 — Enter the ownership interest in the qualified low-income

From areas outside the U.S. and

building that you have disposed of. Include ownership interests

outside Canada:

(518) 485-6800

held both directly and indirectly (for example, through a

partnership).

Hotline for the hearing and speech impaired:

If you have access to a telecommunications device for

Line 5 — If the amount from line 5 of the worksheet is not an

the deaf (TDD), contact us at 1 800 634-2110. If you do

even multiple of $100, increase the bond amount to the next

not own a TDD, check with independent living centers

higher multiple of $100.

or community action programs to find out where

machines are available for public use.

Signatures

Persons with disabilities: In compliance with the

You must sign and date the form at the bottom.

Americans with Disabilities Act, we will ensure that

If you are married and filing the form with a joint income tax return,

our lobbies, offices, meeting rooms, and other facilities

you must both sign it.

are accessible to persons with disabilities. If you have

If the principal is a corporation, the authority of the person posting

questions about special accommodations for persons

the collateral security must be certified by the secretary of the

with disabilities, please call 1 800 972-1233.

corporation by completing the Certificate of corporate principal , or

the corporation may attach copies of records that will show the

authority of the officer signing if the copies are certified by the

secretary to be true copies.

Instructions For Form Dtf-627.1 - Low-Income Housing Credit Collateral Security Page 2

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