Capital Magnet Fund: Compliance Requirements

Recipients must submit annual reports to the CDFI Fund as specified in the Assistance Agreement, including project-level and portfolio-level compliance data via the AMIS system.

Deadline: Due dates vary by award; CDFI Fund sends reminders 365, 180, 90, 60, 30 and 15 days prior to deadline

Source: 12 CFR § 1807.901; CMF Compliance FAQs (June 2025); AMIS User Guide CMF Compliance and Reporting

Recipients must track and report Project Completion status (including title transfer and final CMF disbursement for real estate; specific requirements for non-real estate activities per 12 CFR § 1807.503) and Placed in Service dates for all projects.

Deadline: Project Completion and Placed in Service status reported within annual project report following achievement

Source: 12 CFR § 1807.503; CMF Compliance FAQs section 4 (Project Completion, Placed into Service)

Recipients must provide periodic financial reporting, including audited financial statements and must comply with audit requirements. Single Audit reports (A-133) must be submitted if applicable based on Federal funds expended.

Deadline: Financial statements and single audit reports due annually in accordance with 2 CFR 200.501

Source: 12 USC 4569(b)(ii)(I); 2 CFR 200 (Uniform Guidance); CMF Compliance FAQs (June 2025)

Recipients must achieve the private leverage multiplier specified in Schedule 1 of their Assistance Agreement by the Investment Period End Date. The total Eligible Project Costs funded by Private Leveraged Capital must equal or exceed the CMF Award amount times the private leverage multiplier.

Deadline: Leverage achievement measured at end of each reporting period and at Investment Period End Date

Source: CMF Compliance FAQs (June 2025); 12 CFR § 1807.500

Recipients must ensure housing projects maintain affordability for the entire Affordability Period (at least 10 years or longer as specified in the NOFA). Tenant income must be verified and re-examined annually; occupancy data must be reported.

Deadline: Tenant income recertification and occupancy data reporting due with annual project reports

Source: 12 CFR § 1807.104 (Affordability Period definition); CMF Compliance FAQs sections 17.1-17.3

Recipients must track Program Income (gross income from CMF-financed projects) separately and report it annually. Program Income must be used for eligible uses or returned to the CDFI Fund as specified in the Assistance Agreement.

Deadline: Program Income reported in annual financial and project reports

Source: 12 CFR § 1807.104 (Program Income definition); CMF Compliance FAQs

Recipients must comply with the Uniform Administrative Requirements and Cost Principles (2 CFR 200) in all procurements, including competitive bidding requirements for purchases of goods, services, and construction.

Deadline: Procurement standards apply to all acquisitions over applicable thresholds at time of procurement

Source: 12 CFR § 1807.201 (Uniform Administrative Requirements apply); 2 CFR 200.317-326

Recipients must retain all applicable record retention requirements set forth in the Uniform Administrative Requirements, the Assistance Agreement, and the applicable NOFA. The U.S. Treasury, Comptroller General, and authorized representatives have full access to all books, documents, records, and financial statements relating to use of Federal funds.

Deadline: Documentation must be retained for the duration of the grant and through any audit period

Source: 12 CFR § 1807.901(d); 12 USC 4569(b)(ii)(I)

Recipients must obtain prior written CDFI Fund approval before engaging in any Eligible Use or eligible activity not specifically approved in Schedule 1 of the Assistance Agreement. Amendments to Assistance Agreements are granted only in limited circumstances.

Deadline: Amendment requests must be submitted before engaging in the new activity; approval must be received in writing

Source: CMF Compliance FAQs (June 2025), Q 2.3-2.4; CMF Program Amendments Guide

Recipients may not use CMF Award funds to pay any person to influence or attempt to influence any agency, elected official, or state/local government official regarding contracts, grants, loans, or cooperative agreements (lobbying restriction).

Deadline: Restriction applies to all fund expenditures throughout the grant period

Source: 12 USC 4569(b)(2)