Third-party verification of income, assets and deduction expenses must be filed or its absence documented; an asset declaration below $50,000 needs third-party verification every three years

pbra.certification.third_party_verification_and_fifty_thousand_asset_declaration · v1.0.0

Except as allowed for small asset holdings, the owner must obtain and document in the family file third-party verification of reported family annual income, the value of assets, expenses related to deductions from annual income, and other factors that affect the determination of adjusted income -- or must document in the file why third-party verification was not available. The absence of third-party verification is not itself the deficiency; an undocumented absence is. For a family with net family assets equal to or less than $50,000, a figure HUD adjusts annually by the Consumer Price Index for Urban Wage Earners and Clerical Workers, the owner may accept for purposes of recertification of income the family's declaration under 24 CFR 5.618(b), except that the owner must obtain third-party verification of all family assets every three years. As a condition of admission or continued occupancy the owner must require the head of household and such other members as the owner designates to execute a HUD-approved release and consent form, and the use of information obtained under it is limited to purposes directly connected with administration of the Section 8 program.

Confidence

high

Effective from

2024-01-01

Compliance date

2027-01-01

Consequence model

agency finding with cure

Last reviewed

2026-09-02