Fundrise Real Estate Interval Fund LLC

10/25/2024 | Press release | Distributed by Public on 10/25/2024 11:37

Certificate of Accounting of Securities Form 40 17F2


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 FORM N-17f-2
Certificate of Accounting of Securities and Similar Investments in the Custody of
Management Investment Companies Pursuant to Rule 17f-2 [17 CFR 270. l 7f-2]
1. Investment Company Act File Number:
811 - 23448
Date examination completed:
September 30, 2024
2. State identification Number:
AL
AK
AZ
AR
CA
CO
CT
DE
DC
FL
GA
HI
ID
IL
IN
IA
KS
KY
LA
ME
MD
MA
MI
MN
MS
MO
MT
NE
NV
NH
NJ
NM
NY
NC
ND
OH
OK
OR
PA
RI
SC
SD
TN
TX
UT
VT
VA
WA
WV
WI
WY
PUERTO RICO
Other (specify):
3. Exact name of investment company as specified in registration statement:
Fundrise Real Estate Interval Fund, LLC
4. Address of principal executive office: (number, street, city, state, zip code)
11 Dupont Circle NW, 9th Floor, Washington, District of Columbia, USA 20036






SEC's Collection of Information

An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. Filing of Form N-17f-2 is mandatory for an investment company that has custody of securities or similar investments. Rule 17f-2 under section 17(f) of the Investment Company Act of 1940 requires the investment company to retain an independent public accountant to verify the company's securities and similar investments by actual examination three times during each fiscal year. The accountant must prepare a certificate stating that the examination has occurred and describing the examination, and must transmit the certificate to the Commission with Form N-17f-2 as a cover sheet. The Commission uses the Form to ensure that the certificate is properly attributed to the investment company. The Commission estimates that the burden of completing Form N-17f-2 is approximately 1.0 hours per filing. Any member of the public may direct to the Commission any comments concerning the accuracy of the burden estimate of this Form, and any suggestions for reducing this burden. This collection of information has been reviewed by the Office of Management and Budget in accordance with the clearance requirements of 44 U.S.C. § 3507. Responses to this collection of information will not be kept confidential.



Independent Accountants' Report


To the Board of Directors of Fundrise Real Estate Interval Fund, LLC

We have examined management of Fundrise Real Estate Interval Fund, LLC's (the Fund) assertion, included in the accompanying Management Statement Regarding Compliance With Certain Provisions of the Investment Company Act of 1940, that the Fund complied with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of 1940 (the specified requirements) as of September 30, 2024. The Fund's management is responsible for its assertion. Our responsibility is to express an opinion on management's assertion about the Fund's compliance with the specified requirements based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management's assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management's assertion is fairly stated in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management's assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the engagement.

Included among our procedures were the following tests performed as of September 30, 2024, and with respect to agreement of bank deposits and debits, for the period from July 31, 2024, (the date of our last examination), through September 30, 2024:
•
Confirmation of cash held by Wells Fargo Bank, N.A. (the "Custodian") in the account number ending in 613 on behalf of the Fund, without prior notice to management;
•
Reconciliation of all such cash confirmed to the books and records of the Fund and the Custodian and inspection of relevant documentation for reconciling items;
•
Agreement of 5 bank deposits and 35 bank debits since July 31, 2024, from the books and records of the Fund to bank confirmations.

Our examination does not provide a legal determination on the Fund's compliance with specified requirements.

In our opinion, management's assertion that Fundrise Real Estate Interval Fund, LLC complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of September 30, 2024, with respect to securities reflected in the investment account of the Fund is fairly stated, in all material respects.

This report is intended solely for the information and use of management and the Board of Directors of Fundrise Real Estate Interval Fund, LLC and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/ KPMG LLP

Philadelphia, Pennsylvania
October 25, 2024








October 25, 2024

Management Statement Regarding Compliance With Certain Provisions of the Investment Company Act of 1940
We, as members of management of Fundrise Real Estate Interval Fund, LLC (the Fund), are responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, "Custody of Investments by Registered Management Investment Companies," of the Investment Company Act of 1940. We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Fund's compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of September 30, 2024, and from the last examination date of July 31, 2024, through September 30, 2024.
Based on this evaluation, we assert that the Fund was in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of September 30, 2024, and from the last examination date of July 31, 2024, through September 30, 2024, with respect to cash reflected in the Wells Fargo Bank, N.A. bank account number ending in 613 of the Fund.

Fundrise Real Estate Interval Fund, LLC
By:
/s/ Alison Staloch
Alison Staloch
Treasurer and Principal Financial Officer