How long must EIV Income Reports be retained?

EIV Income Reports must be retained for the term of the tenancy plus an additional three years. This requirement is critical for compliance with federal regulations governing the use of the Enterprise Income Verification (EIV) system, which is designed to help housing authorities verify the income of tenants in subsidized housing.

The retention period ensures that adequate documentation is available for audits and reviews, allowing housing authorities to demonstrate compliance with income eligibility determinations. Retaining records for the duration of the tenancy plus three years provides a safeguard against discrepancies and supports accurate income verification processes even after a tenant leaves the property.

Overall, this retention policy reflects a commitment to accountability and transparency in the management of affordable housing programs and protects the interests of both tenants and housing authorities.