Instructions For Form 8038-G - Information Return For Tax-Exempt Governmental Obligations - Internal Revenue Service - 2011


Instructions for Form
Department of the Treasury
Internal Revenue Service
(Rev. September 2011)
Information Return for Tax-Exempt Governmental Obligations
Rounding to Whole Dollars
indenture or other bond documents. See
Section references are to the Internal
Where To File next.
Revenue Code unless otherwise noted.
You may show amounts on this return as
whole dollars. To do so, drop amounts
General Instructions
Where To File
less than 50 cents and increase amounts
File Form 8038-G, and any attachments,
from 50 cents through 99 cents to the
Purpose of Form
with the Department of the Treasury,
next higher dollar.
Form 8038-G is used by issuers of
Internal Revenue Service Center, Ogden,
Questions on Filing Form
tax-exempt governmental obligations to
UT 84201.
provide the IRS with the information
required by section 149(e) and to monitor
Private delivery services. You can use
For specific questions on how to file Form
the requirements of sections 141 through
certain private delivery services
8038-G send an email to the IRS at
designated by the IRS to meet the “timely
mailing as timely filing/paying” rule for tax
and put “Form 8038-G Question” in the
Who Must File
returns and payments. These private
subject line. In the email include a
delivery services include only the
description of your question, a return
IF the issue price
THEN, for tax-exempt
email address, the name of a contact
(line 21, column (b)) governmental
DHL Express (DHL): DHL Same Day
person, and a telephone number.
obligations issued
after December 31,
Federal Express (FedEx): FedEx
1986, issuers must
Priority Overnight, FedEx Standard
Tax-exempt obligation. This is any
Overnight, FedEx 2Day, FedEx
obligation, including a bond, installment
International Priority, and FedEx
$100,000 or more
A separate Form
purchase agreement, or financial lease,
International First.
8038-G for each issue
on which the interest is excluded from
United Parcel Service (UPS): UPS Next
income under section 103.
Less than $100,000
Form 8038-GC,
Day Air, UPS Next Day Air Saver, UPS
Tax-exempt governmental obligation.
Information Return for
2nd Day Air, UPS 2nd Day Air A.M., UPS
Small Tax-Exempt
A tax-exempt obligation that is not a
Worldwide Express Plus, and UPS
Governmental Bond
private activity bond (see below) is a
Worldwide Express.
Issues, Leases, and
tax-exempt governmental obligation. This
The private delivery service can tell
Installment Sales
includes a bond issued by a qualified
you how to get written proof of the mailing
volunteer fire department under section
For all build America bonds and
Private activity bond. This includes an
recovery zone economic
Other Forms That May Be
obligation issued as part of an issue in
development bonds use Form
8038-B, Information Return for Build
For rebating arbitrage (or paying a
More than 10% of the proceeds are to
America Bonds and Recovery Zone
penalty in lieu of arbitrage rebate) to the
be used for any private activity business
Economic Development Bonds. For tax
Federal government, use Form 8038-T,
use, and
credit bonds and specified tax credit
Arbitrage Rebate, Yield Reduction and
More than 10% of the payment of
bonds use Form 8038-TC, Information
Penalty in Lieu of Arbitrage Rebate.
principal or interest of the issue is either
Return for Tax Credit Bonds and
(a) secured by an interest in property to
Specified Tax Credit Bonds.
For private activity bonds, use Form
be used for a private business use (or
When To File
8038, Information Return for Tax-Exempt
payments for such property) or (b) to be
Private Activity Bond Issues.
derived from payments for property (or
File Form 8038-G on or before the 15th
borrowed money) used for a private
day of the 2nd calendar month after the
For build America bonds (Direct Pay),
business use.
close of the calendar quarter in which the
build America bonds (Tax Credit), and
bond is issued. Form 8038-G may not be
It also includes a bond, the proceeds
recovery zone economic development
filed before the issue date and must be
of which (a) are to be used directly or
bonds, complete Form 8038-B,
completed based on the facts as of the
indirectly to make or finance loans (other
Information Return for Build America
issue date.
than loans described in section 141(c)(2))
Bonds and Recovery Zone Economic
to persons other than governmental units
Late filing. An issuer may be granted an
Development Bonds.
and (b) exceeds the lesser of 5% of the
extension of time to file Form 8038-G
proceeds or $5 million.
under Section 3 of Rev. Proc. 2002-48,
For qualified forestry conservation
Issue price. The issue price of
2002-37 I.R.B. 531, if it is determined that
bonds, new clean renewable energy
the failure to file timely is not due to willful
bonds, qualified energy conservation
obligations is generally determined under
neglect. Type or print at the top of the
bonds, qualified zone academy bonds,
Regulations section 1.148-1(b). Thus,
form “Request for Relief under section 3
qualified school construction bonds, clean
when issued for cash, the issue price is
of Rev. Proc. 2002-48” and attach a letter
renewable energy bonds, Midwestern tax
the first price at which a substantial
explaining why Form 8038-G was not
credit bonds, and all other qualified tax
amount of the obligations are sold to the
submitted to the IRS on time. Also
credit bonds (except build America
public. To determine the issue price of an
indicate whether the bond issue in
bonds), file Form 8038-TC, Information
obligation issued for property, see
question is under examination by the IRS.
Return for Tax Credit Bonds and
sections 1273 and 1274 and the related
Do not submit copies of the trust
Specified Tax Credit Bonds.
Sep 20, 2011
Cat. No. 63774D


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