Form HUD-51001 at a glance
What it is: Form HUD-51001 is the Periodic Estimate for Partial Payment of the Office of Public and Indian Housing, U.S. Department of Housing and Urban Development.
Where and when to file: Submit the original and one copy to the Public Housing Agency.
A filled-in Form HUD-51001 example: a contractor completes a periodic estimate
How to fill out Form HUD-51001, box by box
Contractor's certification and the contract date
The certification of the contractor includes the analysis of amounts used to determine the net balance due. In the first paragraph, enter the name of the Public Housing Agency, the contractor, and the date of the contract. Enter the calculations used in arriving at the "Balance Due This Payment" on lines 1 through 16.
Original Contract Amount, Approved Change Orders and Current Adjusted Contract Amount
Line 1 is the Original Contract Amount. Line 2 is Additions (Total from Col. 3, form HUD-51002). Line 3 is Deductions (Total from Col. 5, form HUD-51002). Line 4 is the Current Adjusted Contract Amount (line 1 plus or minus net).
Value of Original Contract work completed and Total Value of Work in Place
Line 5 is the Value of Original Contract work completed to date (from other side of this form). Line 6 is Additions (from Col. 4, form HUD-51002). Line 7 is Deductions (from Col.5, form HUD-51002). Line 8 is the Total Value of Work in Place (line 5 plus or minus net line 7).
Transfer the Value of Contract Work Completed to Date total to line 5 on the back of this sheet.
Less: Retainage and Net amount due, work in place
Line 9 is Less: Retainage, with a % and an amount. Line 10 is the Net amount earned to date (line 8 less line 9). Line 11 is Less: Previously earned (line 10, last Periodic Estimate). Line 12 is the Net amount due, work in place (line 10 less line 11).
Value of Materials Properly Stored
Under Value of Materials Properly Stored, line 13 is At close of this period (from form HUD-51004). Line 14 is Less: Allowed last period. Line 15 is Increase (decrease) from amount allowed last period.
Balance Due This Payment
Line 16 is the Balance Due This Payment.
Certificate of the project representative and contracting officer
In the Certificate of Authorized Project Representative and of Contracting Officer, the Authorized Project Representative and the Contracting Officer each certify that he/she has checked and verified this Periodic Estimate No.
The Authorized Project Representative and the Contracting Officer therefore approve as the "Balance Due this Payment" the amount entered, each with a Date (mm/dd/yyyy).
More rules for Form HUD-51001
Enter all identifying data required. Periodic estimates must be numbered in sequence beginning with the number 1.
The Item Number and Description of Item in Columns 1 and 2 must correspond to the number and descriptive title assigned to each principal division of work in the Schedule of Amounts for Contract Payments, form HUD-51000.
In Column 3, enter the accumulated value of each principal division of work completed as of the closing date of the periodic estimate. Enter the total in the space provided.
Enter the contractor's name and sign in the certification following line 16.
By signing, the contractor certifies that all just and lawful bills against the contractor and his/her subcontractors for labor, material, and equipment employed in the performance of this contract have been paid in full in accordance with the terms and conditions of this contract, and that the contractor and his/her subcontractors have complied with, or that there is an honest dispute with respect to, the labor provisions of this contract.
The latter portion of this certification relating to payment of legal rates of wages, is required by the contract before any payment may be made. However, if the contractor does not choose to certify on behalf of his/her subcontractors to wage payments made by them, he/she may modify the language to cover only himself /herself and attach a list of all subcontractors who employed labor on the site during the period covered by the Periodic Estimate, together with the individual certifications of each.
By signing, you certify that the information on this form and in any accompanying documentation is true and accurate.
Common questions about Form HUD-51001
Where do I file it?
Submit the original and one copy to the Public Housing Agency.
Is there a penalty?
Making, presenting, or submitting a false, fictitious, or fraudulent statement, representation, or certification may result in criminal, civil, and/or administrative sanctions, including fines, penalties, and confinement for up to 5 years, (18 U.S.C. §§ 287, 1001 and 31 U.S.C. §3729).
Sources
[1] Form HUD-51001 (1/2014), Periodic Estimate for Partial Payment, U.S. Department of Housing and Urban Development (the Official source link on this page).