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Form 8038: Information Return for Tax-Exempt Private Activity Bond Issues
IRS Form 8038 is the Information Return for Tax-Exempt Private Activity Bond Issues, used by bond issuers to provide required information to the IRS and monitor compliance with IRC sections 141 through 150. Issuers must file this form by the 15th day of the 2nd calendar month after issue.
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IRS Form 8038 - Information Return for Tax-Exempt Private Activity Bond Issues
IRS Form 8038 is the Information Return for Tax-Exempt Private Activity Bond Issues, used by bond issuers to provide required information to the IRS and monitor compliance with IRC sections 141 through 150. Issuers must file this form by the 15th day of the 2nd calendar month after issue.
Risk Radar
Scan points- 1Failing to file before the issue date is a critical error for Form 8038.
- 2Filing before the issue date instead of after it occurs.
- 3Not completing Part II even if Lines 3a and 3b are filled out.
- 4Omitting required bond type descriptions on Line 20b or Line 20c.
- 5Using an incorrect mailing address other than Ogden, UT 84201.
Plain English
This form allows companies that sell tax-exempt private activity bonds to report key details directly to the Internal Revenue Service (IRS). It helps the IRS track whether these bond issues are following all the required rules set out in the tax code. Issuers must submit this information for each qualifying bond issue after 1986.
Submission Date
- Filing date: 2025-10-01 22:10:17
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when you are an issuer of a tax-exempt private activity bond issued after 1986.
- Do not use Form 8038 if the bonds are described in section 1312(c) of the Tax Reform Act of 1986 and transitional rules apply, as these should be reported on other forms.
- Check Form 8038-G instead when issuing tax-exempt governmental bonds that are not private activity bonds.
Form selector
Use this form or another form?
Bonds described in section 1312(c) of the Tax Reform Act of 1986
These are not private activity bonds for reporting purposes.
✓ Check your bond type first.
Tax-Exempt Governmental Bonds (non-private activity)
This form is used for tax-exempt governmental bonds that do not fit the private activity definition.
✓ Verify if the bond meets all private activity tests.
Small Tax-Exempt Governmental Bond Issues, Leases, and Installment Sales
Use this when reporting smaller governmental bond issues or specific sale types.
✓ Ensure the issue qualifies as a small government bond.
Deadline or filing window
The filing window requires submission by the 15th day of the 2nd calendar month following the close of the quarter in which the bond was issued. If an issuer needs more time, they may request an extension under section 3 of Rev. Proc. 2002-48.
Checklist
What you need before filling it out
Tax-exempt bond definition
Any obligation where interest is excluded from gross income under section 103. · Instructions p.1
Filing Deadline
The 15th day of the 2nd calendar month after the close of the calendar quarter in which the bond was issued. · Instructions p.1
Required Filer Category
Issuers must file a separate Form 8038 for each issue listed. · Instructions p.1
Property Ownership Rule
All property financed by net proceeds must be owned by a section 501(c)(3) organization or governmental unit. · Instructions p.2
Rounding Method
Drop amounts under 50 cents; increase amounts from 50 to 99 cents to the next whole dollar (e.g., $1.49 becomes $1, $2.50 becomes $3). · Instructions p.1
Late Filing Relief Request
If filing late due to non-willful neglect, type/print: “Request for Relief under section 3 of Rev. Proc. 2002-48.” · Instructions p.1
Before you submit
- 1Confirm the bond issue qualifies as a private activity bond issued after 1986.
- 2Verify that all financed property is owned by a section 501(c)(3) organization or governmental unit.
- 3Check if the filing must include the specific text: “Request for Relief under section 3 of Rev. Proc. 2002-48.”
- 4Ensure you have calculated the correct deadline (15th day of the 2nd calendar month post-issue quarter).
- 5If using Private Delivery Services, confirm it is a designated service from IRS.gov/PDS.
- 6If mailing to Ogden, UT 84201, ensure the address matches the latest instructions.
- 7Confirm that if you are requesting relief, you have attached a letter explaining the delay and indicated if the issue is under examination.
How to file this form
- 1Complete Form 8038 based on facts as of the bond's issue date. | Determine if late filing requires attaching a supporting letter.
- 2If required, type or print “Request for Relief under section 3 of Rev. Proc. 2002-48” at the top of Form 8038. | Attach this request to explain non-timely filing.
- 3Mail Form 8038 and any attachments to the IRS Center in Ogden, UT 84201 (or use a designated PDS). | Use IRS.gov/PDS for current service details.
- 4Keep a copy of the completed Form 8038 and all attachments for your records. | Obtain written proof of mailing date if using PDS.
Known limitations
- 1The $150 million limit does not apply to bonds issued after August 5, 1997, if 95% or more of the net proceeds are used solely for capital expenditures incurred after that date.
- 2For high-speed intercity rail facilities and qualified broadband projects, no volume cap applies even if all the bond-financed property is governmentally owned.
- 3If a construction issue elects to pay a penalty in lieu of arbitrage rebate, this form (Form 8038) does not make that payment; it must be paid with Form 8038-T.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is Revision September 2025 (Catalog Number 49974V, dated Sep 23, 2025). For the latest information regarding Form 8038 and its instructions, filers should check IRS.gov/Form8038.
What changed or needs a fresh check
- Edition date — confirm the revision reads September 2025 (or Sep 23, 2025).
- Catalog Number — confirm it is 49974V.
- Mailing address — confirm the primary IRS Center is Ogden, UT 84201.
- Required attachments — confirm if a letter explaining late filing is needed (if applicable).
- Issuance date criteria — confirm bonds were issued after 1986.
Quick Facts
Downloads
After you file
- 1Keep a copy of the completed and filed Form 8038.
- 2If requesting an extension, attach a letter explaining the delay to Form 8038.
- 3When filing late due to non-willful neglect, type or print 'Request for Relief under section 3 of Rev. Proc. 2002-48' at the top of Form 8038.
- 4If bonds are reissued pursuant to Regulations section 1.141-12 or other applicable authority, ensure Line 20b is completed on Form 8038.
Sources
- SRCInstructions p.1 — Form 8038 is used by issuers of tax-exempt private activity bonds to provide information required by IRC section 149 and monitor compliance with sections 141 through 150.
- SRCInstructions p.1 — Issuers must file a separate Form 8038 for each issue of various bond types, including Exempt facility bonds, Qualified mortgage bonds, and all other tax-exempt private activity bonds (issued after 1986).
- SRCInstructions p.1 — Form 8038 is due by the 15th day of the 2nd calendar month after the close of the quarter in which the bond was issued.
- SRCInstructions p.1 — The filing address for Form 8038 and attachments is IRS Center Ogden, UT 84201.
- SRCInstructions p.3 — For construction issues, at least 75% of available construction proceeds must be used for expenditures related to property owned by a governmental unit or a section 501(c)(3) organization.
- SRCInstructions p.6 — Check Box 6 is used if the issuer elected to pay a penalty in lieu of arbitrage rebate on or before the bond issue date.
Common confusion points
Who must file Form 8038?
Issuers of tax-exempt private activity bonds that were issued after 1986.
→ Check if the bond issue falls into one of the listed categories (e.g., Qualified mortgage bonds, Exempt facility bonds).
When is the deadline to file Form 8038?
The 15th day of the 2nd calendar month following the close of the quarter in which the bond was issued.
→ Confirm the issue date and calculate the filing due date.
Where does Form 8038 go?
To the Internal Revenue Service Center at Ogden, UT 84201 (or via designated Private Delivery Services).
→ Do not send it to the Tax Forms and Publications address listed on page 8.
What is the minimum spending requirement for construction issues?
At least 75% of the available construction proceeds must be used for construction expenditures related to property owned by a governmental unit or a section 501(c)(3) organization.
→ Verify this percentage against the total available construction proceeds.
When should you check the box regarding penalty payment in lieu of arbitrage?
If the issuer made that irrevocable election on or before the date the bonds were issued.
→ Check Box 6 to confirm this election was made.
What is Line 41 for?
It requires applying the rules of Regulations section 1.148-4(h)(4) when determining if the issuer has super-integrated a hedge.
Workflow map
Related forms and next steps
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⚠ If something goes wrong
- If filing late, an extension may be granted under section 3 of Rev. Proc. 2002-48.
Questions about IRS Form 8038
What is IRS Form 8038 used for?
This form allows companies that sell tax-exempt private activity bonds to report key details directly to the Internal Revenue Service (IRS). It helps the IRS track whether these bond issues are following all the required rules set out in the tax code. Issuers must submit this information for each qualifying bond issue after 1986.
Who must file IRS Form 8038?
Issuers of specific tax-exempt private activity bonds must file Form 8038. These include Exempt facility bonds, Qualified mortgage bonds, and all other listed tax-exempt private activity bonds issued after 1986.
What information does IRS Form 8038 require?
The form collects details across several sections, including identifying the issuer and contact persons (Line 3a), specifying the bond type in Part II, and detailing each specific bond issue with its final maturity date (Column a on Line 21).
When is IRS Form 8038 due?
Form 8038 must be filed by the 15th day of the 2nd calendar month after the close of the calendar quarter in which the bond was issued. The form cannot be filed before the issue date.
Where do I file IRS Form 8038?
The designated mailing address is the Internal Revenue Service Center at Ogden, UT 84201. Issuers may use certain IRS-designated Private Delivery Services (PDS) to meet the timely filing rule.
How do I complete IRS Form 8038?
Issuers must complete the form based on facts as of the issue date and sign it before sending. If requesting an extension, they must type or print 'Request for Relief under section 3 of Rev. Proc. 2002-48' at the top. Bond details are specified in Part III, while elections are made on original bond documents but reported here.
What happens if IRS Form 8038 is filed incorrectly?
An issuer may be granted an extension of time under section 3 of Rev. Proc. 2002-48; otherwise, failure to file timely results in a late filing status for Form 8038.
Who must file Form 8038?
Issuers of tax-exempt private activity bonds that were issued after 1986. Check if the bond issue falls into one of the listed categories (e.g., Qualified mortgage bonds, Exempt facility bonds).
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