Real Property Income and Expense (RPIE) Statement Filing Requirements

Owners of buildings that are assessed with a value greater than forty thousand dollars ($40,000) and which have more than ten (10) residential units must file a Real Property Income and Expense (RPIE) statement with the Department of Finance (DOF).  Properties include rental properties, cooperatives, condominiums, business-operating properties, net-leased properties and owners of certain utility properties and equipment.  For details on who is responsible for filing please read through the complete NYC guideline here

The RPIE statement for 2013 is due by June 2, 2014 which must be filed electronically through the DOF website.  It is imperative that the RPIE statement filing be made by June 2, 2014 in order to avoid substantial financial penalties.