Instructions For Form 8038-G - 2012 printable pdf download

Instructions for Form 8038-G

Department of the Treasury

Internal Revenue Service

(Rev. September 2012)

(Use with the September 2011 revision of Form 8038-G.)

Information Return for Tax-Exempt Governmental Obligations

submit copies of the trust indenture or

Information Return for Tax Credit Bonds

Section references are to the Internal Revenue

Code unless otherwise noted.

other bond documents. See Where To File

and Specified Tax Credit Bonds.

next.

Rounding to Whole Dollars

General Instructions

Where To File

You may show amounts on this return as

Purpose of Form

File Form 8038-G, and any attachments,

whole dollars. To do so, drop amounts

Form 8038-G is used by issuers of

with the Department of the Treasury,

less than 50 cents and increase amounts

tax-exempt governmental obligations to

Internal Revenue Service Center, Ogden,

from 50 cents through 99 cents to the next

provide the IRS with the information

UT 84201.

higher dollar.

required by section 149(e) and to monitor

Questions on Filing Form

Private delivery services. You can use

the requirements of sections 141 through

certain private delivery services

8038-G

150.

designated by the IRS to meet the “timely

For specific questions on how to file Form

Who Must File

mailing as timely filing/paying” rule for tax

8038-G send an email to the IRS at

returns and payments. These private

TaxExemptBondQuestions@irs.gov

delivery services include only the

IF the issue price

THEN, for tax-exempt

and put “Form 8038-G Question” in the

following:

(line 21, column (b))

governmental

subject line. In the email include a

DHL Express (DHL): DHL Same Day

is...

obligations issued after

description of your question, a return email

Service.

December 31, 1986,

address, the name of a contact person,

Federal Express (FedEx): FedEx

issuers must file...

and a telephone number.

Priority Overnight, FedEx Standard

$100,000 or more

A separate Form 8038-G

Definitions

Overnight, FedEx 2Day, FedEx

for each issue

International Priority, and FedEx

Less than $100,000

Form 8038-GC,

Tax-exempt obligation. This is any

International First.

Information Return for

obligation, including a bond, installment

United Parcel Service (UPS): UPS Next

Small Tax-Exempt

purchase agreement, or financial lease, on

Day Air, UPS Next Day Air Saver, UPS

Governmental Bond

which the interest is excluded from income

2nd Day Air, UPS 2nd Day Air A.M., UPS

Issues, Leases, and

under section 103.

Worldwide Express Plus, and UPS

Installment Sales

Worldwide Express.

Tax-exempt governmental obligation.

For all build America bonds and

A tax-exempt obligation that is not a

The private delivery service can tell you

recovery zone economic

private activity bond (see next) is a

how to get written proof of the mailing

development bonds use Form

tax-exempt governmental obligation. This

date.

CAUTION

8038-B, Information Return for Build

includes a bond issued by a qualified

Other Forms That May Be

America Bonds and Recovery Zone

volunteer fire department under section

Required

Economic Development Bonds. For tax

150(e).

credit bonds and specified tax credit

For rebating arbitrage (or paying a penalty

Private activity bond. This includes an

bonds use Form 8038-TC, Information

in lieu of arbitrage rebate) to the Federal

obligation issued as part of an issue in

Return for Tax Credit Bonds and Specified

government, use Form 8038-T, Arbitrage

which:

Tax Credit Bonds.

Rebate, Yield Reduction and Penalty in

More than 10% of the proceeds are to

Lieu of Arbitrage Rebate.

When To File

be used for any private activity business

use, and

For private activity bonds, use Form

File Form 8038-G on or before the 15th

More than 10% of the payment of

8038, Information Return for Tax-Exempt

day of the 2nd calendar month after the

principal or interest of the issue is either

close of the calendar quarter in which the

Private Activity Bond Issues.

(a) secured by an interest in property to be

bond is issued. Form 8038-G may not be

used for a private business use (or

For build America bonds (Direct Pay),

filed before the issue date and must be

payments for such property) or (b) to be

build America bonds (Tax Credit), and

completed based on the facts as of the

derived from payments for property (or

recovery zone economic development

issue date.

borrowed money) used for a private

bonds, complete Form 8038-B,

Late filing. An issuer may be granted an

business use.

Information Return for Build America

extension of time to file Form 8038-G

Bonds and Recovery Zone Economic

It also includes a bond, the proceeds of

under Section 3 of Rev. Proc. 2002-48,

Development Bonds.

which (a) are to be used directly or

2002-37 I.R.B. 531, if it is determined that

indirectly to make or finance loans (other

the failure to file timely is not due to willful

For qualified forestry conservation

than loans described in section 141(c)(2))

neglect. Type or print at the top of the form

bonds, new clean renewable energy

to persons other than governmental units

“Request for Relief under section 3 of Rev.

bonds, qualified energy conservation

and (b) exceeds the lesser of 5% of the

Proc. 2002-48” and attach a letter

bonds, qualified zone academy bonds,

proceeds or $5 million.

explaining why Form 8038-G was not

qualified school construction bonds, clean

Issue price. The issue price of

submitted to the IRS on time. Also indicate

renewable energy bonds, and all other

obligations is generally determined under

whether the bond issue in question is

qualified tax credit bonds (except build

Regulations section 1.148-1(b). Thus,

under examination by the IRS. Do not

America bonds), file Form 8038-TC,

Aug 10, 2012

Cat. No. 63774D

Instructions For Form 8038-G - 2012

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