WASHINGTON–The Community Development Financial Institutions Fund (CDFI Fund) has released additional guidance it said is intended to help an organization’s Authorized Representative or Authorized Designee to complete the Certification of Material Events Form in the Awards Management Information System (AMIS).
As the CDFI Fund noted, the Certification of Material Events Form captures information related to specified "material events" that recipients and/or allocates are required to report per applicable Assistance, Award, Allocation, or Bond Loan Agreement for New Markets Tax Credit Program, CDFI Bond Guarantee Program, Bank Enterprise Award Program, Small Dollar Loan Program, Capital Magnet Fund Program, CDFI Program/Native American CDFI Assistance Program, including Technical Assistance, Financial Assistance, Healthy Food Financing Initiative Financial Assistance, Disability Funds Financial Assistance, Persistent Poverty Counties Financial Assistance, CDFI Equitable Recovery Program, and/or the CDFI Rapid Response Program.
In addition, the Certification of Material Event Form requires organizations to indicate their material event, explain the event, and their organization’s response.
What to ‘Remember’
“As specified in the terms of your organization’s Agreement(s), please remember that your organization is required to advise the CDFI Fund of an occurrence of a Material Event, which should be submitted via a Service Request initiated in your organization’s AMIS account,” the CDFI Fund stated. “CDFI Fund Federal Financial Assistance Recipients with active Agreement(s) are required to submit a Material Events form within 30 days of the occurrence of a material event. New Market Tax Credit Program (NMTC Program) Allocatees are required to submit a Material Events form within 20 days of the occurrence of material event, including all necessary supporting documentation with the Material Events form submission.”
The CDFI Fund urged credit unions and other organizations to refer to their agreements(s) for guidance regarding submission of a Material Events form.
Additional Resources
To assist organizations in completing the Certification of Material Event Form, the CDFI Fund said it is providing informational material, including an AMIS Training Manual; and a frequently asked questions (FAQs) document.
In addition, In the coming weeks the CDFI fund said it will also provide a recording of a training module that provides information on completing the Material Event Form.
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