What you must do
Recipients and subrecipients must submit status reports on real property in which the Federal Government retains an interest at least annually, using only OMB-approved government-wide data elements (SF-429 Real Property Status Report); where the federal interest extends 15 years or more, the agency/PTE may set multi-year frequencies not exceeding a 5-year reporting period.
When it applies
Award involves acquisition, construction, or improvement of real property in which the Federal Government retains an interest