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Հունվար – սեպտեմբեր 2018

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Department of the Treasury  
Internal Revenue Service  
Instructions for Form 8038-B  
(Rev. September 2018)  
Information Return for Build America Bonds and Recovery Zone Economic  
Development Bonds  
Section references are to the Internal Revenue  
Code unless otherwise noted.  
The PDS can tell you how to get written  
proof of the mailing date.  
For the IRS mailing address to use if  
you're using PDS, go to IRS.gov/  
Note. Build America bonds (Tax Credit),  
build America bonds (Direct Pay), and  
recovery zone economic development  
bonds must each be reported on a  
Future Developments  
For the latest information about  
developments related to Form 8038-B and  
its instructions, such as legislation  
enacted after they were published, go to  
separate Form 8038-B. This instruction  
applies regardless of whether the single  
issue consists of variable rate, fixed rate,  
or both variable rate and fixed rate bonds.  
PDS can’t deliver items to P.O.  
boxes. You must use the U.S.  
!
CAUTION  
Postal Service to mail any item to  
an IRS P.O. box address.  
When To File  
What’s New  
File Form 8038-B 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-B may not  
be filed before the issue date and must be  
completed based on the facts as of the  
issue date.  
Other Forms That May Be  
Required  
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repealed the authority to issue tax-credit  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.  
For issuers who elect under section 6431  
to receive a direct payment from the  
federal government equal to a percentage  
of the interest payment, issuers must  
request the payment on Form 8038-CP.  
Each Form 8038-CP can only relate to the  
interest paid on a single bond issue.  
For build America bonds (Direct Pay)  
and for recovery zone economic  
development bonds, Form 8038-B must  
be filed at least 30 days prior to the  
submission of the first Form 8038-CP,  
Return for Credit Payments to Issuers of  
Qualified Bonds, that is filed to request  
payment with respect to an interest  
payment date for that issue.  
For rebating arbitrage (or paying a  
penalty in lieu of arbitrage rebate) to the  
federal government, use Form 8038-T,  
Arbitrage Rebate, Yield Reduction and  
Penalty in Lieu of Arbitrage Rebate.  
The American Recovery and  
Reinvestment Act of 2009 created three  
types of build America bonds. Section  
54AA added both Tax Credit and Direct  
Pay build America bonds. Section  
1400U-2 added recovery zone economic  
development bonds, a form of direct pay  
build America bonds. Notice 2009-26  
required that subject to updated IRS  
information reporting forms or procedures,  
all three types of build America bonds  
were to be reported on Form 8038-G,  
Information Return for Tax-Exempt  
Governmental Bonds.  
If the bond issue consists of both  
tax-exempt bonds and build America  
bonds, the issuer must report the  
tax-exempt portion on Form 8038-G and  
the build America bond portion on Form  
8038-B.  
Failure to complete the 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.  
Late filing. An issuer may be granted an  
extension of time to file Form 8038-B  
under Rev. Proc. 2002-48, 2002-37 I.R.B.  
531. Type or print at the top of the form,  
“Request for Relief under Section 3 of  
Rev. Proc. 2002-48.” See Rev. Proc.  
2002-48 for complete information on  
requirements for an extension of time to  
file Form 8038-B.  
Rounding to Whole Dollars  
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).  
General Instructions  
Purpose of Form  
Beginning February 2010, Form 8038-B is  
to be used by issuers of build America  
bonds (Tax Credit), build America bonds  
(Direct Pay), and recovery zone economic  
development bonds to provide the IRS  
with the information required by section  
149(e).  
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. If Form 8038-B is filed late, it still  
must be filed 30 days prior to the  
submission of the first Form 8038-CP for  
that issue.  
Definitions  
Where To File  
Build America bond (Tax Credit). This  
File Form 8038-B and any attachments  
with the Department of the Treasury,  
Internal Revenue Service Center, Ogden,  
UT 84201.  
is an issue of taxable state or local  
Who Must File  
governmental bonds (excluding private  
activity bonds under section 141) as  
defined in section 54AA(d) that provides a  
tax credit to the holder of the bond.  
Governmental issuers of build America  
bonds and recovery zone economic  
development bonds must file a separate  
Form 8038-B for each issue of build  
America bonds and recovery zone  
economic development bonds issued after  
February 2010 and before January 1,  
2011.  
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.  
Build America bond (Direct Pay). This  
is an issue of taxable state or local  
governmental bonds (excluding private  
activity bonds under section 141) as  
defined in section 54AA(g), the issuer of  
Aug 30, 2018  
Cat. No. 54165A  
which elects to receive a refundable credit  
under section 6431 in lieu of tax credits to  
the holder of the bond.  
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.” Failure to attach an  
explanation may result in a delay in  
processing this form.  
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. For a lease or  
installment sale, enter the date interest  
starts to accrue in an MM/DD/YYYY  
format.  
Recovery zone economic development  
bond. This is an issue of taxable state or  
local governmental bonds that meets the  
requirements under section 1400U-2 that  
may be used to finance certain qualified  
economic development purposes as  
defined under section 1400U-2(c), the  
issuer of which receives a refundable  
credit under section 6431.  
Line 8. If there is no name of the issue,  
please provide other identification of the  
issue.  
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.  
Arbitrage rebate. The issuer of a build  
America bond or recovery zone economic  
development bond must rebate to the  
United States arbitrage profits earned  
from investing proceeds of the bond in  
higher yielding nonpurpose investments.  
See section 148(f).  
Line 1. The issuer's name is the name of  
the entity issuing the bonds, not the name  
of the entity receiving the benefit of the  
financing. For a lease or installment sale,  
the issuer is the lessee or the purchaser.  
Gross proceeds. Gross proceeds  
means any proceeds and replacement  
proceeds of an issue as defined under  
Regulations section 1.148-1(b).  
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  
may also apply for an EIN by faxing or  
mailing Form SS-4 to the IRS. Customers  
outside the United States or U.S.  
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  
Line 10. Enter the name and title of the  
officer of the issuer whom the IRS may call  
for more information. If the issuer  
possessions may also apply for an EIN by  
calling 267-941-1099 (toll call).  
Line 3. If the issuer wishes to authorize 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 (including in writing  
or by telephone), enter the name of that  
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).  
designates a person in line 3 (such as a  
legal representative or paid preparer) with  
whom the IRS may communicate with  
respect to this return, leave line 10 blank.  
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. Also, see Regulations section  
1.148-4(h)(5) treating amounts received  
upon the termination of certain hedges as  
sale proceeds.  
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 II—Type of Bonds  
Elections referred to in Part II are  
made on the original bond  
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, in order to  
process this return.  
!
CAUTION  
Issue. Generally, bonds are treated as  
part of the same issue if they are issued by  
the same issuer, on the same date, and in  
a single transaction, or a series of related  
transactions. Even if part of the same  
issue, build America bonds (Direct Pay),  
build America bonds (Tax Credit), and  
recovery zone economic development  
bonds must each be filed on a separate  
Form 8038-B.  
documents, not on this form.  
Line 1. You must identify the type of  
bonds issued by checking the  
corresponding box. If box 1b or 1c is  
checked, complete lines 2 and 3.  
Line 2. Enter the first interest payment  
date. An interest payment date is the date  
on which interest is payable by the  
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  
Form 8038-CP for the issue will relate.)  
Enter the date in an MM/DD/YYYY format.  
Line 4. This line is for IRS use only. Do  
Issue price. The issue price of  
not make any entries in this box.  
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.  
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 street address), 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 street address), city, town,  
or post office, state, and ZIP code.  
Line 3. Check the box indicating the  
interest payment date frequency. In  
addition, issuers of build America bonds  
(Direct Pay) and recovery zone economic  
development bonds must attach a debt  
service schedule to the Form 8038-B  
which contains the information described  
below for the bond issue.  
Specific Instructions  
Part I—Reporting Authority  
Amended return. An issuer may file an  
1. For fixed rate bonds, attach a  
amended return to change or add to the  
complete debt service schedule titled  
-2-  
“Fixed Rate Bond—Debt Service  
expenditure should include a pro rata  
allocation of proceeds representing such  
items as costs of issuance or a reasonably  
required reserve. For example, if 60% of  
the principal amount of the bond issue is  
for capital expenditures purposes and  
40% of the principal amount of the bond  
Line 2. Enter the last date on which any  
of the bonds will mature. Enter the date in  
an MM/DD/YYYY format.  
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  
Line 3. The weighted average maturity is  
the sum of the products of the issue price  
of each maturity and the number of years  
to maturity (determined separately for  
each maturity and by taking into account  
mandatory redemptions), divided by the  
issue price of the entire issue (from Part III,  
line 3). For a lease or installment sale,  
enter the total number of years the lease  
or installment sale will be outstanding.  
Carry the year out to two decimal places,  
and do not round (for example, 10.72).  
outstanding on such date, the credit  
payment expected to be requested from  
the IRS on such date, and the earliest date issue is for job training purposes, the  
that the bonds can be called.  
proceeds used for items such as costs of  
issuance or a reasonably required reserve  
should be allocated 60% to capital  
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.  
expenditures and 40% to job training.  
Line 2d is to be used solely to identify the  
portion of the issue price allocated to a  
purpose other than those listed in lines 2a  
through 2c. Lines 2a through 2d must  
equal the total issue price in line 3.  
Line 4. The yield is generally the discount  
rate that when used to figure the present  
value of all payments of principal and  
interest to be paid on the obligation  
Attach a schedule listing names and  
EINs of organizations that are to use  
proceeds of these obligations if different  
from those of the issuer. Also indicate  
whether each organization listed on the  
schedule is a government or private entity.  
Failure to attach the schedule may result  
in a delay in processing the return.  
Note. If the bond issue reported on Form  
8038-B constitutes both fixed rate bonds  
and variable rate bonds, both the fixed  
rate and variable rate bonds must be  
reported on the same Form 8038-B;  
however, separate debt service  
produces an amount equal to the issue  
price, including accrued interest. See  
Regulations section 1.148-4 for specific  
rules to figure the yield on an issue. If the  
issue is a variable rate issue, leave blank.  
For other than variable rate issues, carry  
the yield out to four decimal places, and  
do not round (for example, 5.3125%). If  
reporting build America bonds (Direct Pay)  
or recovery zone economic development  
bonds, the yield is reduced by the amount  
of credit payments received under section  
6431. If reporting build America bonds  
(Tax Credit) and the issue is a lease or  
installment sale, enter the effective rate of  
interest being paid.  
schedules, as described above, must be  
entered for each of the bonds. Credit  
payments are not allowed for pre-issuance  
accrued interest. Failure to provide the  
applicable debt service schedules may  
result in a delay in processing the return.  
Line 3. See Issue price under Definitions,  
earlier. For build America bonds, the  
amounts under lines 1a through 1h, or for  
recovery zone economic development  
bonds, the amounts under lines 2a  
through 2d must total the issue price of the  
entire issue entered in line 3.  
Part III—Purpose of Issue  
Line 1. For build America bonds, identify  
the purpose of issue and enter the portion  
of the issue price allocable to each type of  
project expenditure. The portion of the  
issue price allocated to each type of  
project expenditure should include a pro  
rata allocation of proceeds representing  
such items as costs of issuance or a  
reasonably required reserve. For example,  
if 60% of the principal amount of the bond  
issue is for education purposes and 40%  
of the principal amount of the bond issue  
is for public safety purposes, the proceeds  
used for items such as costs of issuance  
or a reasonably required reserve should  
be allocated 60% to education and 40% to  
public safety. Line 1h is to be used solely  
to identify the portion of the issue price  
allocated to a purpose other than those  
listed in lines 1a through 1g. Lines 1a  
through 1h must equal the total issue price  
in line 3.  
Note. Build America bonds (Tax Credit),  
build America bonds (Direct Pay), and  
recovery zone economic development  
bonds must each be filed on a separate  
Form 8038-B regardless of whether or not  
they constitute a single issue.  
Part V—Use of Proceeds of  
Issue  
For a lease or installment sale, write “N/A”  
Line 4. If obligations are Tax Anticipation  
Notes (TANs) or Revenue Anticipation  
Notes (RANs), check box 4a. If obligations  
are Bond Anticipation Notes (BANs),  
check box 4b. Do not check both boxes.  
in the space to the right of the title for Part  
V.  
Line 1. See Sale proceeds under  
Definitions, earlier.  
Line 2. Estimate reasonably expected  
investment proceeds on the sales  
proceeds in line 1.  
Line 5. Check this box if property other  
than cash is exchanged for the obligation,  
for example, acquiring a police car, a fire  
truck, or telephone equipment through a  
series of monthly payments. (This type of  
obligation is sometimes referred to as a  
“municipal lease.”) Also check this box if  
real property is directly acquired in  
Line 3. Enter the amount of pre-issuance  
interest accrued from the date the bonds  
are dated to the date of issue.  
Line 4. Enter the amount of the proceeds  
(including accrued interest) that will be  
used to pay bond issuance costs,  
including underwriter's fees, fees for  
trustees, and bond counsel.  
exchange for an obligation to make  
periodic payments of interest and  
Attach a schedule listing names and  
EINs of organizations that are to use  
proceeds of these obligations if different  
from those of the issuer. Also indicate  
whether each organization listed on the  
statement is a government or private  
entity. Failure to attach the schedule may  
result in a delay in processing the return.  
principal. Do not check this box if the  
proceeds of the obligation are received in  
the form of cash, even if the term “lease” is  
used in the title of the issue.  
Note. Costs of issuance are limited to not  
more than 2% of sale proceeds for build  
America bonds (Direct Pay) and recovery  
zone economic development bonds.  
Part IV—Description of  
Obligations  
Line 5. Enter the amount of the proceeds  
that will be used to pay fees for credit  
enhancement that are taken into account  
in determining the yield on the issue for  
purposes of section 148(h), for example,  
bond insurance premiums and certain  
fees for letters of credit.  
Line 1. 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. For  
a lease or installment sale, write “N/A.”  
Line 2. For recovery zone economic  
development bonds, identify the purpose  
of issue and enter the portion of the issue  
price allocable to each type of  
expenditure. The portion of the issue price  
allocated to each type of project  
-3-  
separate statement indicating the amount  
of state volume cap allocated to the issue  
under section 141(b)(5), if applicable. Also  
attach a copy of the certification of the  
recovery zone designation by the state,  
county, or large municipality. Failure to  
attach the required certifications will delay  
the processing of this return.  
92-22, 1992-1 C.B. 736, for rules  
regarding the “election document.”  
Line 6. Enter the amount of the proceeds  
that will be allocated to a reasonably  
required reserve fund. See funding  
limitations for such a reserve under  
Regulations section 1.148-2(f).  
Line 8. An issue is an issue of private  
activity bonds if the issuer takes a  
deliberate action. Regulations section  
1.141-2(d)(3) defines a deliberate action  
as any action taken by the issuer that is  
within its control, regardless of whether  
such act was intended to violate the  
private business use test or the private  
loan financing test. Regulations section  
1.141-12 sets forth certain remedial  
actions that prevent a deliberate action  
with respect to property financed by an  
issue from causing that issue to meet the  
private business use test or the private  
loan financing test. Check the box if the  
issuer has established written procedures  
to ensure timely remedial action with  
respect to all nonqualified bonds in  
accordance with Regulations section  
1.141-12 or other additional remedial  
actions authorized by the Commissioner  
under Regulations section 1.141-12(h).  
Line 9. Enter the amount of the proceeds  
that will be used to pay principal, interest,  
or call premium on any other issue of  
bonds within 90 days of the date of issue.  
Line 2. See Gross proceeds under  
Definitions, earlier. If any portion of the  
gross proceeds of the issue is or will be  
invested in a guaranteed investment  
contract (GIC), as defined in Regulations  
section 1.148-1(b), enter the amount of  
the gross proceeds invested, as well as  
the final maturity date of the GIC, and the  
name of the provider of such contract.  
Enter the final maturity date in an MM/DD/  
YYYY format on line 2b. Attach additional  
sheets, if necessary.  
Note. This line applies only to build  
America bonds (Tax Credit).  
Line 10. Enter the amount of the  
proceeds that will be used to pay principal,  
interest, or call premium on any other  
issue of bonds after 90 days of the date of  
issue, including proceeds that will be used  
to fund an escrow account for this  
purpose.  
Note. This line applies only to build  
Note. A GIC includes any nonpurpose  
investment that has specifically negotiated  
withdrawal or reinvestment provisions and  
a specifically negotiated interest rate, and  
also includes any agreement to supply  
investments on two or more dates (for  
example, a forward supply contract).  
America bonds (Tax Credit).  
Part VI—Description of  
Refunded Bonds  
Line 9. Check the box if the issuer has  
established written procedures to ensure  
that the bonds comply with the arbitrage  
yield restriction and rebate requirements  
of section 148.  
Complete this part only if the bonds are to  
be used to refund a prior issue of  
governmental bonds.  
Line 3. Enter the amount of proceeds of  
this issue used to fund a loan to another  
governmental unit.  
Note. According to Notice 2009-26 and  
Notice 2009-50, build America bonds  
(Direct Pay) generally may not be issued  
to refinance capital expenditures in  
“refunding issues,” as defined in  
Regulations section 1.150-1. However,  
refinancing of certain short-term  
indebtedness with build America bonds  
(Direct Pay) and recovery zone economic  
development bonds is not treated as a  
refunding.  
Signature and Consent  
Line 4. If this issue is a loan of proceeds  
from another governmental issue, check  
box 4a and enter the date of issue in an  
MM/DD/YYYY format on line 4b. Enter the  
EIN on line 4c, and the name of the issuer  
of the master pool obligation on line 4d.  
An authorized representative of the issuer  
must sign Form 8038-B and any  
applicable certification. Also print the  
name and title of the person signing Form  
8038-B. 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  
necessary to process this return, to the  
person(s) that have been designated in  
Form 8038-B.  
Line 5. Check this box if the issuer has  
identified a hedge on its books and  
records in accordance with Regulations  
sections 1.148-4(h)(2)(viii) and 1.148-4(h)  
(5) that require an issuer of bonds to  
identify a hedge for it to be included in  
bond yield calculations for purposes of  
section 148. If the box on line 5a is  
checked, enter the name of the hedge  
provider on line 5b, the type of the hedge  
on line 5c, and the term of the hedge to  
the nearest tenth of a year (for example,  
2.4 years) on line 5d. Attach additional  
sheets, if necessary.  
Lines 1 and 2. The remaining weighted  
average maturity is determined without  
regard to the refunding. The weighted  
average maturity is determined in the  
same manner as for Part IV, line 3.  
Note. If the governmental issuer in Part I,  
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  
Line 3. Enter the last date on which any  
of the bonds being refunded will be called.  
Enter the date in an MM/DD/YYYY format.  
Line 4. If more than a single issue of  
bonds will be refunded, enter the date of  
issue of each of the issues to be refunded  
on a schedule. Enter the date in an  
MM/DD/YYYY format. If the schedule is  
not attached, it may result in a delay in  
processing the return.  
information, as necessary to process this  
return, to such person.  
Line 6. In determining if the issuer has  
super-integrated a hedge, apply the rules  
of Regulations section 1.148-4(h)(4). If the  
hedge is super-integrated, check the box.  
Paid Preparer  
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  
the issuer, such as a clerk, secretary, etc.,  
should not sign.  
Line 7. Check this box if the issue is a  
construction issue as defined in  
Part VII—Miscellaneous  
Line 1. Enter the amount of volume cap  
allocated to the issue of recovery zone  
economic development bonds. Attach a  
copy of the certification of the volume cap  
allocation by the state, county, or large  
municipality. For build America bonds,  
enter the amount of state volume cap  
allocated to the issue under section 141(b)  
(5), if applicable. For recovery zone  
Regulations section 1.148-7(f) and an  
irrevocable election to pay a penalty in lieu  
of arbitrage rebate has been made on or  
before the date the bonds were issued.  
The penalty is payable with a Form 8038-T  
for each 6-month period after the date the  
bonds are issued. Do not make any  
payment of penalty in lieu of arbitrage  
rebate with Form 8038-B. See Rev. Proc.  
Generally, anyone who is paid to  
prepare a return must sign it and fill in the  
economic development bonds, attach a  
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other blanks in the Paid Preparer Use Only regulations thereunder, check the box  
area of the return. The paid preparer must: next to “Yes” on line 1 of Part VIII.  
Sign the return in the space provided  
Recordkeeping .  
Learning about the law or the  
form.  
Preparing, copying,  
assembling, and sending the  
form to the IRS  
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16 hr., 1 min.  
1 hr., 29 min.  
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Paperwork Reduction Act Notice. We  
ask for the information on this form to carry  
out the Internal Revenue laws of the  
for the preparer's signature;  
Enter the preparer information,  
including Preparer Tax Identification  
Number; and  
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1 hr., 49 min.  
United States. You are required to give us  
the information. We need it to ensure that  
you are complying with these laws.  
Give a copy of the return to the issuer.  
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 VIII—Consent to  
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  
Disclosure of Certain  
Information From This Return  
Line 1. The IRS is considering publishing  
a list of tax credit bonds in order to assist  
in applicable reporting requirements. If the  
issuer of a build America bond (Tax  
Or you can write to:  
Credit) consents to the IRS's publication,  
through a website or other publication, of  
its name and address, EIN, name and  
description of the bond issue, date of  
issuance, CUSIP number, issue price,  
final maturity date, and stated redemption  
price at maturity, to assist the IRS in the  
proper reporting of interest, tax credits, or  
Internal Revenue Service  
Tax Forms and Publications  
1111 Constitution Ave. NW, IR-6526  
Washington, DC 20224  
confidential, as required by section 6103.  
The time needed to complete and file  
this form will vary depending on individual  
circumstances. The estimated average  
Do not send the form to this address.  
Instead, see Where To File, earlier.  
other benefits under section 6049, and the time is:  
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