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HUD Annual Financial Statements Filing

March 30 is the deadline to submit required annual financial information (AFS) if Owners’ FY ends on December 31. If Owners’ FY ends on a different date AFS are due for submission to HUD online 90-days subsequent to the end of FY.

HUD anticipates that over 35,000 HUD Business Partners will submit annual financial statements through HUD’s Secure Systems through the internet during the upcoming deadline. Passwords to these accounts must be changed every 90 days and accounts are locked after 90 days of inactivity (not logging into the website). Many users only log in once per year and will need to go through the process to have their IDs reactivated for submission this year.

  1. Passwords can be reset as follows:When prompted by the system

  2. Under System Login, Password Reset at, from the side bar menu after logging into Secure Systems; or

  3. By contacting the Technical Assistance Center (TAC) by phone or email.

User IDs can only be reactivated by contacting the TAC by phone or email, and users will be asked to have the following information to verify their identity:

  1. User ID

  2. Mother’s Maiden Name

  3. Last 4 Digits of Your Social Security Number

The Technical Assistance Center operates between the hours of 7:00am to 8:30pm EST, Monday thru Friday and can be contacted via phone (1-888-245-4860) or E-mail

 Link to HUD procedures for submission of AFS

Owners, who have not submitted annual audited financial statements (AFS) electronically for fiscal years ending December 31, 1998, were referred to the Department Enforcement Center (DEC). Effective September 2001, if an AFS is not received by the 10th day of the month following the due date, an automatic e-mail letter is sent to the owner's Multi-Family - Financial Assessment Subsystem (MF-FASS) coordinator on the 11th day.  This message tells the owner that the AFS is overdue.

This same message advises the owner that if the AFS is not received within the next 30 days (grace period), HUD will place a non-compliance flag in the Active Partners Performance System (APPS) and automatically refer the owner to the Departmental Enforcement Center (DEC). Upon expiration of the 30-day grace period and if the AFS is not received, the responsible Project Manager (PM) must place an appropriate noncompliance flag in APPS. This "late filer" flag must not be removed by the PM until the DEC advises the PM that the AFS was submitted and that all non-filer issues are resolved.  

At some point, a letter will be sent that tells the owner that due to their failure to file the AFS the property has been referred to the DEC for action. When this letter is sent, a system generated project action is created in the Real Estate Management System (REMS) titled "AFS Overdue: DEC Review Required." This project action must be closed by the DEC Enforcement Analyst, not the PM.

NOTE: Every Hub and Program Center Director receives a monthly report summarizing all overdue AFS. This report must be shared with staff.


Hubs/Program Centers nor the DEC are authorized to approve extensions to AFS filing due dates. The Office of Asset Management defined specific criteria and then provided Real Estate Assessment Center (REAC) limited authority to approve or deny extension requests. The criteria are in an agreement between the offices. The agreement describes:

  • the procedures owners must follow to request an extension;

  • the criteria REAC uses when approving or denying extensions; and,

  • the appeal process for denied requests.

All extension requests must be filed electronically according to the instructions in the Industry User Guide for the Financial Assessment Subsystem - Multifamily Housing (FASSUB).  Owners needing additional assistance may be referred to the REAC Technical Assistance Center (TAC) at 1-888-245-4860. When a Hub/Program Center or the DEC receives an extension request from an owner or owner representative, direct the requester to the, REAC Website


where the request can be filed on-line.  

multifamily housing - frequently asked questions 

  • Multifamily Asset Management Submission Requirements

  • Guidance and Compliance

  • On-line Systems

Are you OVERDUE submitting your AFS and audit information electronically to REAC? I can assist you in doing the online electronic transmissions. Do not wait until the HUD Enforcement Center sends you a letter threaten Civil Money Penalty, because you did not submit your AFS electronically. HUD could stop payment of Housing Subsidy Payments.

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