Get 4470.1 Rev-2 Chg 1 Chapter 3. Financial Statements - Hud - Hud

Filling out the 4470.1 REV-2 CHG 1 Chapter 3 Financial Statements form is essential for those involved with HUD financial processes. This guide provides a clear, step-by-step approach to ensure accurate submission of necessary financial statements and supporting documentation.

Follow the steps to fill out the form accurately.

1. Press the ‘Get Form’ button to access the form for filling out in your preferred digital format.
2. Review the introduction section carefully, which outlines who must submit financial statements and under what conditions. Make sure all sponsors, mortgagors, and contractors are identified.
3. Provide the required financial statements depending on the type of entity. Individuals must submit a Personal Financial and Credit Report (Form HUD-92417) or a substitute statement meeting specific requirements. Ensure that any married individual's report includes their spouse's signature where necessary.
4. For business entities, submit separate financial statements for the last three years, including a balance sheet, an income and expense statement, and a statement of changes in financial position, ensuring that they reflect the organization's current financial status accurately.
5. Complete all supporting schedules as required, including aging schedules, pledged assets, and schedules related to accounts payable and receivable.
6. Ensure the financial statements are current, not more than three months old, unless audited statements from a qualified accountant are being provided, which can be up to a year old.
7. Verify that all documentation is signed where required, including certifications and criminal warnings, to prevent any issues with submission.
8. Once all sections are completed, users can save their progress, download the filled form, print, or share it as needed.

Start completing your HUD 4470.1 REV-2 CHG 1 Chapter 3 Financial Statements online today!