RPD-41384: RPD-41384 Notice of Transfer of 2015 Sustainable Building Tax Credit (Revision 2021-11)
New Mexico · New Mexico TRD · Used for tax years 2024, 2025, 2026
Form RPD-41384 reports a transfer of an approved 2015 sustainable building tax credit to the New Mexico Taxation and Revenue Department. It identifies the current and new credit holders and records the credit number, amount transferred, first eligible tax year, and transfer date.
Who files this form
Use Form RPD-41384 to report a transfer of an approved 2015 sustainable building tax credit to the New Mexico Taxation and Revenue Department (TRD).
The form is for:
- A TRD-approved holder who sells, exchanges, or transfers the credit to another taxpayer.
- A partnership or other business association, other than the original building owner, that passes the credit to its members, partners, shareholders, or beneficiaries.
Before reporting a transfer, the current holder must have a TRD-approved Form RPD-41382 or Form RPD-41384.
When it's due
Mail the signed notice to TRD within 10 days of a sale, exchange, or other transfer. The form gives this transfer-based deadline rather than a separate calendar deadline for each tax year.
What you'll need
Attach a copy of the current holder’s TRD-approved Form RPD-41382 or Form RPD-41384.
Have these details ready to complete the notice:
- The credit number and first eligible tax year, available on the approved form.
- The amount of credit being transferred and the transfer date.
- The current holder’s name, phone number, SSN or FEIN, and contact information.
- The new holder’s name, SSN or FEIN, and mailing address.
- The new holder’s ownership percentage, if a partnership or other business association is passing credit to its owners.
Both transferring parties, or their authorized representatives, must sign and date the notice.
How to file
- Enter the credit number, first eligible tax year, transfer date, and amount of credit transferred.
- Complete the Transferred from section for the current holder and the Transferred to section for the new holder.
- Enter the new holder’s ownership percentage if the transfer is from a partnership or other business association to its owners.
- Have both parties, or their authorized representatives, sign and date the form.
- Attach a copy of the holder’s TRD-approved Form RPD-41382 or Form RPD-41384.
Mail the notice and approval documentation within 10 days of the transfer to:
New Mexico Taxation and Revenue Department
Business Credit Claim Unit
P.O. Box 5418
Santa Fe, NM 87502-5418
Common mistakes
- Splitting a credit in a sale or transfer to another taxpayer. The credit must be transferred in full. A partnership or other business association passing credit to its owners follows a different rule: each owner’s share must be proportional to that owner’s interest, and the total cannot exceed the holder’s credit.
- Transferring a credit after it has been used. Once used, the credit cannot be transferred. Once a holder or owner claims a credit, its carryforward cannot be sold, exchanged, or transferred.
- Missing a signature or attachment. Both parties must sign and date the notice, and a copy of the holder’s approved Form RPD-41382 or Form RPD-41384 must be attached.
- Mailing late. The notice must be mailed within 10 days of the sale, exchange, or other transfer.
- Using the wrong transfer form. The separate sustainable building tax credit uses Form RPD-41342, not Form RPD-41384.
Questions people ask
Can I transfer a credit that I have already used?
No. Once the credit has been used, it cannot be transferred. A carryforward also cannot be sold, exchanged, or transferred after the credit has been claimed.
Can a partnership pass the credit to its owners?
Yes. Each owner may claim credit only in proportion to that owner’s interest. The total claimed by all owners cannot exceed the credit the partnership or business association could have claimed.
Does an original building owner use this form to pass credit to its owners?
An original building owner that is a partnership or other business association passes TRD-approved credit to its owners by completing Sections I and II of Form RPD-41382 and submitting a Form RPD-41327 for each owner.
Are the sustainable building tax credit and the 2015 sustainable building tax credit the same?
No. The sustainable building tax credit is available for tax years ending on or before December 31, 2016, and uses Form RPD-41342 for transfers. The 2015 sustainable building tax credit is available for tax years beginning on or after January 1, 2017, and uses Form RPD-41384 for transfers.
Where can I get help completing the notice?
Call the Business Credit Claim Unit at (505) 827-0792 or email BusinessCredit.Mgr@state.nm.us.