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دستورالعمل های فرم 8038-TC، بازگشت اطلاعات برای اوراق قرضه اعتباری و اوراق قرضه اعتباری مالیاتی مشخص

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  • 8038-TC - اطلاعات بازگشت به اوراق قرضه اعتباری مالیاتی و اوراق قرضه اعتباری متمایز
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Department of the Treasury  
Internal Revenue Service  
Instructions for Form  
8038-TC  
(Rev. September 2018)  
Information Return for Tax Credit Bonds and Specified Tax Credit Bonds  
Section references are to the Internal Revenue  
General Instructions  
Late filing. An issuer may be granted an  
Code unless otherwise noted.  
extension of time to file Form 8038-TC  
under section 3 of Rev. Proc. 2002-48,  
2002-37 I.R.B. 531, if it is determined that  
the failure to file timely is not due to willful  
neglect. Type or print at the top of the  
form, “Request for Relief under section 3  
of Rev. Proc. 2002-48.” Attach to the Form  
8038-TC a letter explaining why Form  
8038-TC was not filed on time. Also  
indicate whether the bond issue in  
Purpose of Form  
Future Developments  
Form 8038-TC is used by the issuers of  
qualified tax credit bonds and specified  
tax credit bonds listed below under Who  
Must File, to provide the IRS with the  
information required by section 149(e).  
For the latest information about  
developments related to Form 8038-TC  
and its instructions, such as legislation  
enacted after they were published, go to  
Who Must File—Qualified Tax  
Credit Bonds  
What’s New  
question is under examination by the IRS.  
Do not submit copies of the trust indenture  
or other bond documents.  
The Tax Cuts and Jobs Act (P.L. 115-97)  
repealed the authority to issue tax-credit  
bonds and direct-pay bonds. The repeal  
applies to qualified forestry conservation  
bonds, new clean renewable energy  
bonds, qualified energy conservation  
bonds, qualified zone academy bonds,  
and qualified school construction bonds  
issued after December 31, 2017. The  
authority to issue recovery zone economic  
development bonds and build America  
bonds expired on January 1, 2011.  
Issuers of the following bonds must file a  
separate Form 8038-TC for each tax credit  
bond issue issued after March 2010 and  
before January 1, 2018.  
Note. If Form 8038-TC is filed late for  
specified tax credit bonds, it still must be  
filed 30 days prior to the submission of the  
first Form 8038-CP for that issue.  
Qualified forestry conservation bonds.  
New clean renewable energy bonds.  
Qualified energy conservation bonds.  
Qualified zone academy bonds.  
Qualified school construction bonds.  
Clean renewable energy bonds.  
All other qualified tax credit bonds  
(except build America bonds which should  
be reported on Form 8038-B, Information  
Return for Build America Bonds and  
Recovery Zone Economic Development  
Bonds).  
Where To File  
File Form 8038-TC and any attachments  
with the Department of the Treasury,  
Internal Revenue Service Center, Ogden,  
UT 84201.  
Reminders  
Private delivery services. You can use  
certain private delivery services (PDS)  
designated by the IRS to meet the “timely  
mailing as timely filing” rule for tax returns.  
Go to IRS.gov/PDS for the current list of  
designated services.  
Specified tax credit bonds are treated as  
qualified bonds for purposes of section  
6431. Issuers of certain qualified tax credit  
bonds issued prior to January 1, 2018,  
may elect as of the issue date of the  
bonds under section 6431(f) to receive a  
refundable credit in lieu of tax credits  
under section 54A. Only issuers of  
Who Must File—Specified Tax  
Credit Bonds  
Issuers of the following specified tax credit  
bonds issued before January 1, 2018,  
must file a separate Form 8038-TC for  
each specified tax credit bond issue.  
New clean renewable energy bonds.  
Qualified energy conservation bonds.  
Qualified zone academy bonds.  
The PDS can tell you how to get written  
proof of the mailing date.  
specified tax credit bonds that qualify for  
and have elected to receive a refundable  
credit under section 6431(f) may file Form  
8038-CP, Return for Credit Payments to  
Issuers of Qualified Bonds. If the issuer of  
a specified tax credit bond makes the  
election under section 6431(f), the holder  
of the bond will not be eligible to receive a  
tax credit under section 54A. For more  
information on specified tax credit bonds,  
see Notice 2010-35.  
For the IRS mailing address to use if  
you're using PDS, go to IRS.gov/  
Qualified school construction bonds.  
PDS can’t deliver items to P.O.  
boxes. You must use the U.S.  
!
When To File  
CAUTION  
Postal Service to mail any item to  
File Form 8038-TC on or before the 15th  
day of the 2nd calendar month after the  
close of the calendar quarter in which the  
bond was issued. Form 8038-TC may not  
be filed before the issue date and must be  
completed based on the facts as of the  
issue date.  
an IRS P.O. box address.  
Other Forms That May Be  
Required  
For submitting payment of arbitrage rebate  
to the federal government, use Form  
8038-T, Arbitrage Rebate, Yield  
Reduction and Penalty in Lieu of Arbitrage  
Rebate.  
Other tax credit bonds, including  
qualified forestry conservation bonds,  
clean renewable energy bonds, qualified  
zone academy bonds issued following an  
allocation of 2011 (or later) volume cap,  
and Midwestern tax credit bonds, are not  
eligible for direct payments under section  
6431(f).  
For specified tax credit bonds, Form  
8038-TC must be filed at least 30 days  
prior to the submission of the first Form  
8038-CP that is filed to request payment  
with respect to an interest payment date  
for that issue. Failure to complete this  
form, including the attached schedules,  
may result in a delay in processing this  
form. All attached schedules must include  
the issuer's name and EIN at the top.  
For issuers of specified tax credit  
bonds who elect under section 6431 to  
receive a direct payment of a refundable  
credit from the federal government, the  
payment must be requested on Form  
8038-CP. Each Form 8038-CP can only  
relate to the interest paid on a single bond  
issue. Issuers of certain specified tax  
Aug 28, 2018  
Cat. No. 54164P  
credit bonds with multiple maturities must  
file a separate Form 8038-CP for each  
maturity. For more information, see  
Purpose of Form in the Instructions for  
Form 8038-CP.  
of the available project proceeds of which  
are to be used for one or more qualified  
energy conservation purposes as defined  
in section 54D.  
may also apply for an EIN by faxing or  
mailing Form SS-4 to the IRS. Customers  
outside the United States or U.S.  
possessions may also apply for an EIN by  
calling 267-941-1099 (toll call).  
Issue. Generally, bonds are treated as  
part of the same issue if they are issued by Line 3. If the issuer wishes to authorize a  
Rounding to Whole Dollars  
the same issuer, on the same date, and in  
a single transaction or series of related  
transactions.  
person other than an officer of the issuer  
(including a legal representative or paid  
preparer) to communicate with the IRS  
and whom the IRS may contact with  
respect to this return (including in writing  
or by telephone), enter the name of the  
person here. The person listed in line 3  
must be an individual. Do not enter the  
name and title of an officer of the issuer  
here (use line 10 for that purpose).  
You can round off cents to whole dollars. If  
you do round to whole dollars, you must  
round all amounts. To round, drop  
amounts under 50 cents and increase  
amounts from 50 to 99 cents to the next  
dollar (for example, $1.39 becomes $1  
and $2.50 becomes $3).  
Issue price. The issue price of  
obligations is generally determined under  
Regulations section 1.148-1(f). Thus,  
when issued for cash, the issue price is  
the price at which a substantial amount of  
the obligations are sold to the public. To  
determine the issue price of an obligation  
issued for property, see sections 1273 and  
1274 and the related regulations.  
If two or more amounts must be added  
to figure the amount to enter on a line,  
include cents when adding the amounts  
and round off only the total.  
Note. By authorizing a person other than  
an authorized officer of the issuer to  
communicate with the IRS and whom the  
IRS may contact with respect to this  
return, the issuer authorizes the IRS to  
communicate directly with the individual  
entered in line 3 and consents to disclose  
the issuer's return information to that  
individual, as necessary, to process this  
return.  
Definitions  
Sale proceeds. Sale proceeds are  
determined under Regulations section  
1.148-1(b) as any amount actually or  
constructively received from the sale of  
the issue, including amounts used to pay  
underwriters' discount or compensation  
and accrued interest, other than  
Tax credit bond. An obligation issued  
under section 54, 54A, or 1400N(l) that  
entitles the taxpayer holding such bond on  
one or more credit allowance dates  
occurring during any tax year to a credit  
against the federal income tax imposed for  
that tax year.  
pre-issuance accrued interest. Sale  
proceeds also include, but are not limited  
to, amounts derived from the sale of a  
right that is associated with a bond, and  
that is described in Regulations section  
1.148-4(b)(4). Sale proceeds shall also  
include the proceeds from the sale of  
credit strips. See also Regulations section  
1.148-4(h)(5) treating amounts received  
upon the termination of certain hedges as  
sale proceeds.  
Line 4. This line is for IRS Use Only. Do  
Qualified forestry conservation bond.  
An obligation that is part of an issue 100%  
of the available project proceeds of which  
are to be used to finance one or more  
qualified forestry conservation purposes  
as defined in section 54B.  
not make any entries in the boxes.  
Lines 5 and 6. If you listed in line 3 a  
person other than an officer of the issuer  
(including a legal representative or paid  
preparer) to communicate with the IRS  
and whom the IRS may contact with  
respect to this return, enter the number  
and street (or P.O. box if mail is not  
delivered to the street address) and city,  
town, or post office, state, and ZIP code of  
that person. Otherwise, enter the issuer's  
number and street (or P.O. box if mail is  
not delivered to the street address) and  
city, town, or post office, state, and ZIP  
code.  
Qualified zone academy bond. An  
obligation that is part of an issue 100% of  
the available project proceeds of which  
are to be used for a qualified purpose with  
respect to a qualified zone academy  
established by an eligible local education  
agency as provided in section 54E.  
Arbitrage. The issuer must comply with  
the arbitrage requirements of sections 148  
and 54A.  
Specific Instructions  
Part I—Reporting Authority  
Qualified school construction bond.  
An obligation that is part of an issue 100%  
of the available project proceeds of which  
are to be used for the construction,  
Line 7. The date of issue is generally the  
date on which the issuer exchanges the  
bonds for the underwriter's (or other  
purchaser's) funds.  
Amended return. An issuer may file an  
amended return to change or add to the  
information reported on a previously filed  
return for the same date of issue. If you  
are filing to correct errors or change a  
previously filed return, check the  
“Amended Return” box in the heading of  
the form.  
The amended return must provide all  
the information reported on the original  
return, in addition to the new or corrected  
information. Attach an explanation of the  
reason for the amended return and write  
across the top, “Amended Return  
Explanation.”  
rehabilitation, or repair of a public school  
facility, or for the acquisition of land on  
which a facility is to be constructed with  
the proceeds as set forth in section 54F.  
Line 8. If there is no name of the issue,  
please provide other identification of the  
issue.  
Clean renewable energy bond. An  
obligation that is part of an issue 95% or  
more of the proceeds of which are to be  
used for capital expenditures incurred by  
qualified borrowers for one or more  
eligible clean renewable energy projects  
as defined in section 54.  
Line 9. Enter the Committee on Uniform  
Securities Identification Procedures  
(CUSIP) number of the latest maturity on  
line 9. Attach a schedule with a complete  
list of CUSIP numbers for each bond. If  
some or all of the tax credits are stripped,  
attach a schedule with the name of each  
purchaser of the tax credit bonds or tax  
credit strips, each purchaser's EIN, and  
the CUSIP numbers associated with the  
bonds and the stripped tax credits. If the  
issue does not have a CUSIP number,  
write, “None.” If the issue either has no  
CUSIP number or is privately placed,  
attach a schedule with each purchaser's  
EIN, name, and address.  
New clean renewable energy bond. An  
obligation that is part of an issue 100% of  
the available project proceeds of which  
are to be used for capital expenditures  
incurred by governmental bodies, public  
power providers, or cooperative electric  
companies for one or more qualified  
renewable energy facilities as defined in  
section 54C.  
Line 1. Enter the name of the entity  
issuing the bonds, not the name of the  
entity receiving the benefit of the  
financing.  
Line 2. An issuer that does not have an  
employer identification number (EIN)  
should apply online by visiting the IRS  
website at IRS.gov/EIN. The organization  
Qualified energy conservation bond.  
An obligation that is part of an issue 100%  
Instructions for Form 8038-TC  
-2-  
specified tax credit bonds with a  
knows the interest amount for a certain  
period, for that period the issuer should  
provide the refundable credit payment  
expected to be requested from the IRS as  
allowed under section 6431(f).  
Line 10. Enter the name and title of the  
officer of the issuer whom the IRS may call  
for more information. If the issuer entered  
in line 3 the name of a person other than  
an officer of the issuer (including a legal  
representative or paid preparer) to  
communicate with the IRS and whom the  
IRS may contact for this return (including  
in writing or by telephone), leave line 10  
blank.  
single maturity. For QZABs or QSCBs,  
the amount of refundable credit payment  
with respect to an interest payment date is  
equal to the lesser of the amount of  
interest payable on the bond on the  
Note. If the bond issue reported on this  
Form 8038-TC constitutes both fixed rate  
bonds and variable bonds, a separate  
schedule must be entered for each of the  
bonds.  
interest payment date or 100% of the  
amount of interest which would have been  
payable under such bond on the interest  
payment date if the interest were  
determined at the applicable credit rate  
determined under section 54A(b)(3). For  
new CREBs and QECBs, the amount of  
refundable credit payment with respect to  
an interest payment date is equal to the  
lesser of the amount of interest payable on  
such bond on the interest payment date or  
70% of the amount of interest which would  
have been payable under such bond on  
the interest payment date, if the interest  
were determined at the applicable credit  
rate determined under section 54A(b)(3).  
Line 11. Enter the telephone number of  
the person whom the IRS may contact for  
more information identified in line 3 or  
line 10, as applicable.  
Part III—Description of  
Obligations  
Line 1. See Issue price under Definitions,  
earlier.  
Part II—Type of Issue  
Line 2. The stated redemption price at  
maturity of the entire issue is the sum of  
the stated redemption prices at maturity of  
each bond issued as part of the issue.  
Line 1. Identify the type of tax credit  
bonds issued by entering the  
corresponding three-digit code as follows.  
101—Qualified forestry conservation  
bonds.  
Line 3. Enter the last date on which any  
of the bonds will mature. If more than one  
maturity, attach a schedule for each  
principal payment date.  
102—New clean renewable energy  
bonds.  
Determining the refundable credit  
payment under section 6431(f) for  
specified tax credit bonds with  
103—Qualified energy conservation  
bonds.  
multiple maturities. The refundable  
credit payment for specified tax credit  
bonds with multiple maturities is  
Line 4. The applicable credit rate is the  
daily rate set by the IRS under section  
54A(b)(3) determined as of the first day on  
which there is a binding, written contract  
for the sale or exchange of the bond.  
Carry the percent out to two decimal  
places, do not round (for example,  
104—Qualified zone academy bonds.  
105—Qualified school construction  
bonds.  
determined separately for each bond  
maturity by comparing the interest payable  
on each bond maturity with the interest  
that would have been payable on such  
bond maturity if the interest on such bond  
maturity were figured using the applicable  
credit rate and summing up the lesser of  
the two amounts with respect to each  
bond maturity. For example, if an issue  
consists of two bond maturities, one with a  
2-year maturity with an interest rate of 2%  
and one with a 15-year maturity with an  
interest rate of 6%, while the applicable  
credit rate as of the sale date of the issue  
is 5%, the allowable refundable credit with  
respect to interest payment date 1 would  
be the sum of the amount that equals 2%  
of the 2-year bond maturity and the  
amount that equals 5% of the 15-year  
bond maturity. If the issue is an issue of  
new CREBs or QECBs, the amount of  
interest that would have been payable if  
the interest were figured using the  
106—Clean renewable energy bonds.  
108—Other.  
Line 2. Enter type of bond.  
10.74%). Such a rate is posted by the  
Bureau of the Fiscal Service on its Internet  
site for State and Local Government  
Series securities at TreasuryDirect.gov.  
See Notice 2009-15, which is on page 449  
of Internal Revenue Bulletin 2009-6 at  
Line 3. If the issuer has made an  
irrevocable election to apply section  
6431(f), check “Yes,” if not, check “No.” If  
“No,” skip lines 4 and 5.  
Line 4. Enter the first interest payment  
date. An interest payment date is the date  
on which interest is payable by the  
Line 5. Enter the maximum term set by  
the IRS under section 54A(d)(5)  
governmental issuer to the holders of the  
bonds. (For variable rate issues, enter the  
last interest payment date applicable to  
the quarterly period for which the first  
8038-CP for the issue will relate.) Enter  
the date in an MM/DD/YYYY format.  
applicable during each calendar month in  
which the tax credit bonds are sold. Carry  
the year out to two decimal places, do not  
round. Enter zeros in the last two positions  
(for example, 10.00). The maximum term  
is posted by the Bureau of the Fiscal  
Service on its Internet site for State and  
Local Government Series securities at  
Line 5. Check the box indicating the  
interest payment date frequency. In  
addition, issuers of specified tax credit  
bonds must attach a debt service  
schedule to the Form 8038-TC which  
contains the information described below  
for the bond issue.  
1. For fixed-rate bonds, attach a  
complete debt service schedule titled  
“Fixed Rate Bond—Debt Service  
Schedule” that provides a list of each  
interest payment date, the total interest  
payable on such date, the total principal  
amount of bonds expected to be  
outstanding on such date, the interest  
rate, the refundable credit payment  
expected to be requested from the IRS as  
allowed under section 6431(f) on such  
date, and the earliest date that the bonds  
can be called.  
applicable credit rate would be figured by  
reducing the interest that would be  
Line 6. Enter the applicable maximum  
permitted yield for the sinking fund  
expected to be used to repay the issue  
under section 54A(d)(4)(C). Carry the  
percent out to four decimal places, do not  
round. Enter zeros in the last two positions  
(for example, 10.7400%). The permitted  
sinking fund yield is set by the IRS  
consistent with the maximum term  
determined under section 54A(d)(5) and is  
posted by the Bureau of the Fiscal Service  
on its Internet site for State and Local  
Government Series securities at  
payable by multiplying such interest by  
70% (0.70) with respect to each bond  
maturity. In the example above, the  
refundable credit payment with respect to  
interest payment date 1 for the 2-year  
maturity would be 2% and for the 15-year  
maturity would be 3.5% of the outstanding  
bond maturity.  
2. For variable rate bonds, attach a  
debt service schedule titled “Variable Rate  
Bond–Debt Service Schedule” that  
provides a list of each interest payment  
date, the total principal amount of bonds  
expected to be outstanding on such date,  
and a description of how interest on the  
bonds is figured. However, if the issuer  
Line 7. For specified tax credit bonds,  
enter the interest rate on the bonds and  
carry the interest rate out to four decimal  
Determining the refundable credit  
payment under section 6431(f) for  
Instructions for Form 8038-TC  
-3-  
places. For specified tax credit bonds with  
more than one maturity, enter the interest  
rate of the latest maturity. If the issue is a  
variable rate issue, leave blank.  
purpose expenditure not otherwise  
itemized in lines 1a through 12 and  
describe the use of proceeds.  
necessary to repay the issue or if the yield  
on the reserve fund is greater than the  
permitted sinking fund yield (entered in  
Part III, line 6).  
Line 14. Enter total qualified purpose  
expenditures equal to the sum of amounts  
entered in lines 1a through 13.  
Line 8. For specified tax credit bonds, if  
the issue is a variable rate issue, check  
the box on line 8a. Enter the frequency  
that rates are reset on line 8b.  
Line 1d. For purposes of monitoring the  
arbitrage requirements of section 148,  
such monitoring shall include the arbitrage  
requirements of section 54A. If the issuer  
has established the written procedures,  
check the box.  
Line 15. To determine the percentage of  
total proceeds to be used for qualified  
purpose expenditures, divide line 14 in  
Part V by line 7 in Part IV, then multiply the  
result by 100.  
Part IV—Proceeds of Issue  
Line 1. See Sale proceeds under  
Line 2. The issuer must certify that  
applicable state and local law  
Definitions, earlier.  
Line 16. Determine the proceeds of the  
issue used to reimburse the issuer for  
amounts paid for a qualified purpose prior  
to the issuance of the bonds. See  
Regulations section 1.150-2.  
requirements governing conflicts of  
interest are satisfied with respect to the  
bond issue. See section 54A(d)(6). If  
these requirements are met, check the  
box in line 2.  
Note. If the bond is stripped at issuance,  
line 1 must include sale proceeds of the  
principal and sale proceeds of the credit  
strips.  
Line 17. Subject to certain exceptions  
under Regulations section 1.150-2(f), an  
issuer must adopt an official intent, as  
described in Regulations section  
1.150-2(e), to reimburse itself for  
preissuance expenditures within 60 days  
after payment of the original expenditure.  
Enter the date the official intent was  
adopted.  
Line 2. Enter the amount of the proceeds  
that will be used to pay bond issuance  
costs, including underwriter's fees, fees  
for trustees, and bond counsel.  
Line 3. If some or all of the tax credits are  
stripped, check the box.  
Note. Submit the information required  
under Part I, line 9.  
Note. Bond issuance costs for tax credit  
bonds issued under section 54A are  
limited to 2% of sale proceeds.  
Line 4. If an issuer fails to spend 100% of  
the available project proceeds of the issue  
by the close of the 3-year expenditure  
period (including any extensions granted),  
the issuer must redeem all of the  
Line 3. Estimate expected investment  
proceeds on the sale proceeds of the  
issue, including proceeds received by the  
issuer from the sale of tax credits that  
have been stripped from the bonds.  
Part VI—Allocation of National,  
State, Tribal, or Local Bond  
Limitation Amount  
nonqualified bonds within 90 days after  
the end of such expenditure period. See  
section 54A(d)(2)(B). If the issuer has  
established written procedures to meet  
this requirement, check the box.  
Line 1a. Enter the amount of volume cap  
allocated to the issue by bond type. Attach  
a copy of the national (for example, from  
the Department of the Treasury or IRS),  
state, tribal, or local allocations with  
Line 4. For all tax credit bonds issued  
under section 54A, expected available  
project proceeds shall be figured by  
subtracting line 2 from line 1 and adding  
line 3.  
For clean renewable energy bonds  
(Code 106) read line 4 by substituting  
“proceeds” for “available project  
proceeds,” add lines 1 and 3, and enter  
that amount on line 4. Do not subtract  
line 2, bond issuance cost.  
Line 5. “Other” is reserved for future tax  
credit bonds.  
respect to the issue. Check the tribal box if  
the allocation is provided by the  
Signature and Consent  
An authorized representative of the issuer  
must sign Form 8038-TC and any  
applicable certification. Also print the  
name and title of the person signing Form  
8038-TC. The authorized representative of  
the issuer signing this form must have the  
authority to consent to the disclosure of  
the issuer's return information, as  
Department of Interior. Failure to attach  
the appropriate allocation certification will  
result in a delay in processing this form.  
The appropriate officials must certify that  
the issue has been designated as one or  
more types of qualified tax credit bonds.  
On the blank line below line 1a, enter the  
year of allocation and, if applicable, the  
amount of carryforward allocation.  
Line 5. For IRS use only. Do not make an  
entry in line 5.  
Line 6. Enter any amount of proceeds not  
otherwise itemized in lines 1–4 and  
describe the purpose for which the  
proceeds are to be used.  
necessary to process this return, to the  
person(s) that have been designated in  
Form 8038-TC.  
Lines 1b through 1d. Check the  
corresponding box indicating whether the  
allocation is national, local, state, or tribal.  
Note. If line 3 authorizes the IRS to  
communicate (including in writing and by  
telephone) with a person other than an  
officer of the issuer, by signing this form,  
the issuer's authorized representative  
consents to the disclosure of the issuer's  
return information, as necessary to  
process this return, to such person.  
Line 7. Total proceeds equal the sum of  
lines 4 through 6.  
Line 2. If the allocation is from a state,  
enter the state abbreviation.  
Note. For qualified tax credit bonds  
issued under section 54A, lines 4 and 7,  
available project proceeds and total  
proceeds, respectively, should equal the  
same amount.  
Part VII—Miscellaneous  
Line 1a. Check the box if there is a  
reserve fund described in section 54A(d)  
(4)(C) (sinking fund) that is expected to  
repay the issue at maturity.  
Part V—Description of Use of  
Proceeds for Qualified Purpose  
Expenditures  
Lines 1a through 12. Enter the dollar  
amount of proceeds allocated to each  
qualified purpose expenditure on the  
corresponding line.  
Paid Preparer  
Line 1b. A reserve may be funded in  
unequal periodic installments so long as it  
is funded no sooner than in equal periodic  
installments. Check the box if the reserve  
fund is funded no sooner than in equal  
periodic payments.  
If an authorized representative of the  
issuer filled in this return, the paid  
preparer's space should remain blank.  
Anyone who prepares the return but does  
not charge the organization should not  
sign the return. Certain others who  
prepare the return should not sign. For  
example, a regular, full-time employee of  
Line 1c. Check the box if either the  
reserve fund is expected to result in an  
amount greater than the amount  
Line 13. Enter the dollar amount of  
proceeds allocated to each qualified  
Instructions for Form 8038-TC  
-4-  
the issuer, such as a clerk, secretary, etc.,  
should not sign.  
loan guarantee under the Rural  
Electrification Act, check “Yes.”  
Line 2. Section 54D(e)(2)(B) provides  
that the amount allocated to a large local  
government may, if unused, be  
Line 6. Notice 2009-33 provides that,  
except in limited circumstances involving  
reimbursements to which section 54A(d)  
(2)(D) applies, costs of acquiring existing  
facilities generally will be treated as  
nonqualified costs. If any of the available  
project proceeds have been used to  
acquire existing facilities, check “Yes.”  
Generally, anyone who is paid to  
prepare a return must sign it and fill in the  
other blanks in the Paid Preparer Use Only  
area of the return. The paid preparer must:  
Sign the return in the space provided  
for the preparer's signature,  
reallocated by such local government to  
the state in which such local government  
is located. If the bonds are issued based  
on an allocation that has been reallocated  
from a large local government to a state,  
check “Yes.”  
Enter the preparer information, and  
Give a copy of the return to the issuer.  
Line 3. A large local government means  
any municipality or county if such  
Line 7. Notice 2009-33 provides that  
refinancing costs (as contrasted with costs  
of enhancements, repair, or rehabilitation  
of existing facilities) generally will be  
treated as nonqualified costs. If any of the  
available project proceeds have been  
used to refinance existing facilities, check  
“Yes.”  
Part VIII—Consent to  
municipality or county has a population of  
100,000 or more. If the issuer is a large  
local government, check “Yes.”  
Disclosure of Certain  
Information From This Return  
Line 6. If the issuer issued the bonds  
based on a volume cap allocation  
Line 1. If the issuer consents to the IRS's  
publication, through a website or other  
publication, of its name and address,  
employer identification number, name and  
description of bond issue, date of  
received by another authorized entity (that  
allocated volume cap to the issue), check  
“Yes.” If not, check “No.” If “Yes” is  
Line 8. Notice 2015-12 provides that an  
allocation of new CREB volume cap  
limitation is valid for 180 days after the  
date of the letter issuing the allocation (the  
“volume cap allocation date”). If the issue  
date of the issue is on or before 180 days  
after the volume cap allocation date,  
check “Yes.”  
checked, provide the name of such  
issuance, CUSIP number, issue price,  
final maturity date, stated redemption  
price at maturity, applicable credit rate and  
maximum term to assist in the proper  
reporting of interest, tax credits, or other  
benefits under section 6049, check the  
box next to “Yes.”  
authorized entity. If more than one  
authorized entity allocated volume cap to  
the bond issue, attach a schedule listing  
the names of, and amount of bonds for,  
each such authorized entity. If the box on  
line 6 is checked “Yes,” failure to insert the  
name of the other authorized entity that  
allocated volume cap to the issue may  
result in a delay in processing the return.  
Line 9. A new CREB must be designated  
as such by a qualified issuer. If these  
bonds have been designated as new  
CREBs, check “Yes.” See section 54C(a)  
for more information.  
Note. Part VIII does not apply to issuers  
of tax credit bonds that have elected direct  
payment refundable credits under section  
6431(f).  
Part II  
For IRS use only. Do not make an entry in  
line 1.  
Part II  
Schedule A. New Clean  
Renewable Energy Bonds  
(New CREBs) Under  
Part III—List of Conservation  
Purposes, Location of the  
Facilities, Amount of Proceeds  
Used for the Purpose, Private  
Activity User, and Private  
User's EIN  
Line 1. Eligible issuers of QECBs include  
states, political subdivisions, as defined  
for purposes of section 103, and entities  
empowered to issue bonds on behalf of  
any such entity under rules similar to those  
for determining whether a bond issued on  
behalf of a state or political subdivision  
constitutes an obligation of that state or  
political subdivision for purposes of  
section 103 and Regulations section  
1.103-1(b). Further, eligible issuers  
include otherwise eligible issuers in  
conduit financing issues (as defined in  
Regulations section 1.150-1(b)).  
For IRS use only. Do not make an entry in  
line 1.  
Part III—List of Qualified  
Renewable Energy Facilities  
Sections 54A and 54C  
Part I—Issuer Questions  
Line 1. A “Qualified Renewable Energy  
Facility” means a qualified facility as  
determined under section 45(d) (without  
regard to paragraphs (8) and (10) and to  
any placed-in-service date) owned by a  
public power provider, a governmental  
body, or a cooperative electric company.  
List the type of qualified renewable energy  
facility to be financed by the bonds, the  
location of the facility, the owner(s) of the  
facility, the owner's EIN, and the amount  
of available project proceeds to be used  
for that facility. (If more than one facility,  
attach a schedule.)  
Line 1. A public power provider is a state  
utility with a service obligation as such  
terms are defined in section 217 of the  
Federal Power Act. If the issuer is a public  
power provider, check “Yes.”  
Line 2. A cooperative electric company is  
a mutual or cooperative electric company  
described in section 501(c)(12) or section  
1381(a)(2)(C). If the issuer is a  
cooperative electric company, check  
“Yes.”  
Line 3. A governmental body is any state  
or Indian tribal government, or any political  
subdivision thereof. If the issuer is a  
governmental body, check “Yes.”  
Schedule B. Qualified  
Energy Conservation  
Bonds (QECBs) Under  
Sections 54A and 54D  
Part I—Issuer and Project  
Questions  
Line 1. A QECB must be designated as  
such by the issuing state or local  
government. See section 54D(a). If these  
bonds have been designated as QECBs,  
check “Yes.”  
List each type of qualified conservation  
purpose described under section 54D(f) to  
be financed by the bonds, the location of  
the facility (if applicable), and the amount  
of available project proceeds to be used  
for each qualified conservation purpose. If  
the bonds are private activity bonds,  
Line 4. A clean renewable energy bond  
lender is a lender which is a cooperative  
owned by, or has outstanding loans to,  
100 or more cooperative electric  
companies and was in existence on  
February 1, 2002, and shall include any  
affiliated entity which is controlled by such  
lender. If the issuer is a clean renewable  
energy bond lender, check “Yes.”  
provide the name and EIN of the private  
user(s). (If more than one purpose, facility,  
owner, or user, attach a schedule.)  
Line 5. If the issuer is a not-for-profit  
electric utility which has received a loan or  
Instructions for Form 8038-TC  
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state-of-the-art technology and vocational  
equipment); (b) technical assistance in  
developing curriculum or in training  
teachers to promote appropriate  
Schedule C. Qualified  
Zone Academy Bonds  
(QZABs) Under Sections  
54A and 54E  
Line 2. If the issuer issued the bonds  
based on a volume cap allocation  
received by another authorized entity (that  
allocated volume cap to the issue),  
provide the name of such authorized  
entity. If more than one authorized entity  
allocated volume cap to the bond issue,  
attach a schedule listing the names of,  
and amount of bonds for, each authorized  
entity.  
market-driven technology in the  
classroom; (c) services of employees as  
volunteer mentors; (d) internships, field  
trips, or other educational opportunities  
outside the academy for students; or (e)  
any other property or service specified by  
the eligible local education agency. List  
the value of the dollar amount of each  
private contribution on the corresponding  
line.  
Part I—Academy and Issuer  
Information  
Line 1. If the school is located in a  
designated empowerment zone, check  
“Yes.”  
Paperwork Reduction Act Notice. We  
ask for the information on this form to carry  
out the Internal Revenue laws of the  
Line 2. If the school is located in a  
designated enterprise community, check  
“Yes.”  
United States. You are required to give us  
the information. We need it to ensure that  
you are complying with these laws.  
Line 5. For items not listed in lines 1  
through 4, enter the value of the amount  
contributed on line 5 and provide a  
description of such contribution.  
Line 5. If for any calendar year the  
allocation for a state exceeds the amount  
of bonds issued for such year, the  
You are not required to provide the  
information requested on a form that is  
subject to the Paperwork Reduction Act  
unless the form displays a valid OMB  
control number. Books or records relating  
to a form or its instructions must be  
retained as long as their contents may  
become material in the administration of  
any Internal Revenue law. Generally, tax  
returns and return information are  
limitation may be carried over but only to  
the first 2 years following the year in which  
the unused limitation arose. Limitation  
amounts are used on a first-in, first-out  
basis. If the bonds or any portion of the  
bonds are issued under a carryover  
limitation, check “Yes,” and enter the year  
in which the limitation arose.  
Part III—Private Business  
Contributor  
Lines 1 through 5. Enter the name and  
EIN of the donor of the private business  
contribution. (If more than five donors,  
attach a schedule.)  
Schedule D. Qualified  
School Construction  
Bonds (QSCBs) Under  
Sections 54A and 54F  
Line 7. For a bond to be a “qualified zone  
academy bond,” the issuer must certify  
that it has written commitments from  
private entities to make qualified  
confidential, as required by section 6103.  
The time needed to complete and file  
this form will vary depending on individual  
circumstances. The estimated average  
time is:  
contributions having a present value (as of  
the date of issuance of the issue) of not  
less than 10% of the proceeds of the  
issue. If the eligible local education  
agency that established the qualified zone  
academy has received such written  
commitments, check “Yes.”  
Part I—Use of Proceeds  
Recordkeeping .  
Learning about the law or the  
form.  
Preparing, copying,  
assembling, and sending the  
form to the IRS  
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21 hr., 3 min.  
2 hr., 25 min.  
Line 1. An Indian school is a school  
funded by the Bureau of Indian Affairs.  
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Line 3. A QSCB must be designated as  
such by the issuing state or local  
government. See section 54F(a). If these  
bonds have been designated as QSCBs,  
check “Yes.”  
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5 hr., 16 min.  
Line 9. A QZAB must be designated as  
such by the issuing state or local  
government within the jurisdiction where  
the school is located. If these bonds have  
been designated as QZABs, check “Yes.”  
See section 54E(a)(3) for more  
If you have comments concerning the  
accuracy of these time estimates or  
suggestions for making this form simpler,  
we would be happy to hear from you. You  
can send us comments through IRS.gov/  
Part II  
For IRS use only. Do not make an entry in  
line 1.  
information.  
Line 10. Write in the name of the local  
education agency. Failure to provide the  
name of the eligible education agency  
may result in a delay in processing the  
return.  
Part III—Issuer Information  
Line 1. If the issuer is not the local  
education agency in the jurisdiction of  
which the public school facility is located,  
enter the name of such local education  
agency. If the issuer is issuing bonds for  
more than one local education agency,  
attach a schedule listing the names of,  
and amount of bonds for, each local  
education agency.  
Or you can write to:  
Internal Revenue Service  
Tax Forms and Publications  
1111 Constitution Ave. NW, IR-6526  
Washington, DC 20224  
Part II—Description of the  
Private Business Contribution  
Lines 1 through 4. Qualified private  
business contributions under section  
54E(d)(4) are (a) equipment for use in the  
qualified zone academy (including  
Do not send the form to this address.  
Instead, see Where To File, earlier.  
Instructions for Form 8038-TC  
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