Форма 8038-TC Інструкція
Інструкція по формуванню 8038-TC, повернення інформації за податкові кредитні облігацій та визначені податкові кредитні облігацій
Вересень 2018
Пов'язані форми
- Форма 8038-TC - Повернутися до Податкових Кредитних облігацій та визначених податкових зобов’язань
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repealed the authority to issue tax-credit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.
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
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
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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.
.
.
.
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.
.
.
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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.”
.
.
.
.
.
.
.
.
.
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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