15 Ark. Code of Rules § 86-406

15 CAR § 86-406. Tenant income verification.
(a)(1) Owners/site managers must remember that the United States Department of Housing and Urban Development Handbook 4350.3 is the reference guide to be used for identifying income to be included or excluded when determining household income.
(2) Determination of annual income of individuals and area median gross income must be made in a manner consistent with the United States Department of Housing and Urban Development Section 8 income definitions and guidelines.
(b)(1) The earned income of every prospective household member aged eighteen (18) or older must be verified.
(2) Unearned income, assets, and asset income of all household members, including minors, must be verified.
(3) Verifications must be received by the owner or site manager prior to the execution of the certification of tenant eligibility and lease.
(c)(1) Third-party verifications are valid for one hundred twenty (120) days before the effective date of the TIC.
(2) Owners may not rely on verifications that are more than one hundred twenty (120) days old.
(3) After this time, a new written verification must be obtained.
(d)(1) Written third-party verifications are preferred.
(2) An authorization to release information must:
(A) Be signed by the applicant; and
(B) Accompany verification requests.
(3) Owners must send verifications directly to the source, and the source must return them directly to the owner.
(4) Verifications must not be hand-carried by the applicant to or from the source.
(5) The owner may obtain acceptable third-party written verifications by:
(A) Facsimile;
(B) Email; or
(C) Internet.
(6)(A) If written verification is not possible, direct contact with the source, in person or by telephone, is acceptable.
(B) The owner must:
(i) Document this verbal verification in the tenant file; and
(ii) Obtain all information as requested on the written verification form.