In an email sent on December 21, 2017 by the U.S. Department of Agriculture (Subject: IRS Form 4506-T Suspension), Rural Development stated the following (in relevant part):
“The Single Family Housing Guaranteed Loan Program will suspend the requirement of Internal Revenue Service (IRS) Form 4506-T for all adult household members until further notice.
The suspension is effective December 21, 2017 and applies to all final GUS and manually underwritten loan submissions to USDA.
The following sections of HB-1-3555 that address IRS Form 4506-T are officially suspended:
- Chapter 9, 9.3 E 6
- Chapter 15, 15.3, and
- Chapter 15, Attachment 15-A
Lenders must continue to perform their due diligence to review income and asset documentation obtained for the household.
Questions regarding this announcement may be directed to the National Office Division at (202) 720-1452. . . .”
We are currently reviewing this change to determine any impact to our document library and/or systems and evaluating any necessary changes. We have determined that we will continue supplying our generic copies of the 4506-T form for RD loans for the time being, since this suspension may be temporary and there is no harm in having them continue to print (though clients may, at their discretion, disregard these forms in RD loan packages, deselect them in the “Documents” screen in ConformX, or customize print conditions). Any modifications we make will be announced on our website (http://blog.docutechcorp.com/category/document-updates).