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Form 8038-TC: Information Return for Tax Credit Bonds and Specified Tax Credit Bonds
IRS Form 8038-TC is Information Return for Tax Credit Bonds and Specified Tax Credit Bonds, used by issuers to provide the IRS required information under section 149(e). Issuers must file this form on or before the 15th day of the 2nd calendar month after issue.
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IRS Form 8038-TC - Information Return for Tax Credit Bonds and Specified Tax Credit Bonds
IRS Form 8038-TC is Information Return for Tax Credit Bonds and Specified Tax Credit Bonds, used by issuers to provide the IRS required information under section 149(e). Issuers must file this form on or before the 15th day of the 2nd calendar month after issue.
Risk Radar
Scan points- 1Do not submit copies of the trust indenture or other bond documents with Form 8038-TC.
- 2Filing before the bond's issue date on Form 8038-TC.
- 3Not checking 'Yes' for a new CREB when applicable (Line 9).
- 4Omitting the EIN of the donor if there are private business contributions.
- 5Using an address other than Ogden, UT 84201 without verification.
Plain English
This form tells the IRS about specific bonds that offer tax credits. Issuers use it to report details about their qualifying bond issues, such as clean renewable energy bonds or school construction bonds. Filing this ensures the IRS has the necessary information regarding these specialized financial instruments.
Submission Date
- Filing date: 2018-09-19 23:00:07
- 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 qualified or specified tax credit bond that was issued after March 2010 (for qualified bonds) or before January 1, 2018 (for specified bonds).
- Do not use this form when the bond is a build America bond, as those should be reported on Form 8038-B.
- Check Form 8038-CP instead when you are requesting a direct payment of a refundable credit from the federal government for an issue.
Form selector
Use this form or another form?
Bond has multiple maturities
A separate Form 8038-CP must be filed for each maturity.
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Requesting direct payment of a refundable credit
Each Form 8038-CP can only relate to the interest paid on a single bond issue.
✓ Check before you continue
Reporting Build America Bonds
These bonds require reporting on this separate information return form.
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Deadline or filing window
The filing trigger is the issue date of the bond. The deadline is the 15th day of the 2nd calendar month following the close of the issuing quarter. If filed late for specified tax credit bonds, it must still precede the first Form 8038-CP submission by 30 days.
Checklist
What you need before filling it out
Qualified Tax Credit Bonds
Issuer information and bond details · Form 8038-TC
Specified Tax Credit Bonds
Issuer information and bond details · Form 8038-TC
Fixed-rate bonds with single maturity
Debt service schedule attachment · Form 8038-TC
Rounding amounts
All entered dollar figures on form · Form 8038-TC
Direct Payment Request
Specific bond issue details · Form 8038-CP (as referenced)
Before you submit
- 1Ensure the form is completed based on the facts as of the bond's issue date.
- 2Verify that if a fixed-rate bond has multiple maturities, you have filed a separate Form 8038-TC for each one (if applicable).
- 3Confirm that all amounts entered are rounded to whole dollars if any cents were rounded.
- 4If using private delivery services, ensure the service is IRS designated and note how written proof will be obtained.
- 5Verify you are not sending copies of the trust indenture or other bond documents with this form.
- 6For specified tax credit bonds filed late, confirm it is being submitted within 30 days prior to the first Form 8038-CP submission for that issue.
- 7If requesting a direct payment, ensure you have properly linked the request to the single bond issue on Form 8038-CP.
How to file this form
- 1Complete Form 8038-TC using the facts as of the bond's issue date.
- 2For fixed-rate bonds, attach a complete debt service schedule titled “Fixed Rate Bond—Debt Service Schedule” detailing all relevant dates and amounts.
- 3File the completed Form 8038-TC (and attachments) with the Department of the Treasury, Internal Revenue Service Center in Ogden, UT 84201.
- 4Submit the form on or before the 15th day of the 2nd calendar month following the close of the quarter in which the bond was issued, obtaining proof of mailing.
Known limitations
- 1Other tax credit bonds, such as qualified forestry conservation bonds, clean renewable energy bonds, qualified zone academy bonds issued after a 2011 volume cap allocation, and Midwestern tax credit bonds are not eligible for direct payments under section 6431(f) [Instructions p.1].
- 2Build America Bonds should be reported on Form 8038-B if they are qualified tax credit bonds (unless otherwise noted) [Instructions p.1].
- 3If a bond has multiple maturities, a separate Form 8038-CP must be filed for each maturity [Instructions p.2].
- 4When rounding amounts to whole dollars, all amounts on the form must be rounded; amounts under 50 cents are dropped, and amounts from 50 to 99 cents increase by one dollar [Instructions p.2].
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.
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Fillable formOpen in Editor->The current edition is dated 06/10, and instructions reference future developments at IRS.gov/Form8038TC. The Tax Cuts and Jobs Act repealed the authority to issue tax-credit bonds and direct-pay bonds for certain types issued after December 31, 2017.
What changed or needs a fresh check
- Edition date — confirm the revision date reads 06/10.
- Tax credit bond definition — confirm the obligation is issued under section 54, 54A, or 1400N(l).
- Mailing address — confirm the recipient is IRS Center, Ogden, UT 84201 (do not use the DC address for submission).
- Filing deadline — confirm filing occurs on or before the 15th day of the 2nd calendar month after issue.
- Rounding rule — confirm that all amounts must be rounded to whole dollars if you round at all.
Quick Facts
Downloads
After you file
- 1Keep a copy of the completed Form 8038-TC after filing.
- 2If filing late for specified tax credit bonds, the form must still be filed 30 days prior to submitting the first Form 8038-CP for that issue [Instructions p.1].
- 3The IRS may contact an authorized individual listed on line 3 of Form 8038-TC regarding the return and may disclose issuer information to that individual [Instructions p.2].
- 4If using a Private Delivery Service (PDS), the PDS can provide written proof of the mailing date for timely filing purposes [Instructions p.1].
Sources
- SRCInstructions p.1 — General Instructions state Form 8038-TC is used by issuers of qualified and specified tax credit bonds to provide information required by section 149(e) [Instructions p.1].
- SRCInstructions p.1 — Issuers of qualified tax credit bonds must file a separate Form 8038-TC for each issue after March 2010 and before January 1, 2018 [Instructions p.1].
- SRCInstructions p.1 — The deadline to file is on or before the 15th day of the 2nd calendar month after the bond was issued [Instructions p.1].
- SRCInstructions p.2 — If an issuer authorizes another person (not an officer) to communicate with the IRS, that name goes on line 3 [Instructions p.2].
- SRCInstructions p.3 — Line 5 requires entering the maximum term set by the IRS under section 54A(d)(5), carrying the year out to two decimal places (e.g., 10.00) [Instructions p.3].
- SRCInstructions p.6 — The specific mailing address for filing is Ogden, UT 84201; do not use the address on page 6 otherwise [Instructions p.1].
Common confusion points
Who must file Form 8038-TC?
Issuers of qualified tax credit bonds or specified tax credit bonds listed in the instructions must file it [Instructions p.1].
When is the deadline to file Form 8038-TC?
The form must be filed on or before the 15th day of the 2nd calendar month after the bond was issued [Instructions p.1].
What if I authorize someone else to talk to the IRS?
Enter that person's name on line 3; this authorizes the IRS to contact them and share return information with them [Instructions p.2].
How do I handle rounding when filling out Form 8038-TC?
If you round to whole dollars, all amounts must be rounded: drop cents under .50 or increase amounts from .50–.99 to the next dollar [Instructions p.2].
What is required for Line 5 (Maximum Term)?
Enter the maximum term set by the IRS under section 54A(d)(5) for each month the bonds are sold, carrying the year out to two decimal places with zeros in the last two positions (e.g., 10.00) [Instructions p.3].
Where exactly do I send Form 8038-TC?
Mail it to the Department of the Treasury, Internal Revenue Service Center at Ogden, UT 84201; do not send it to the address listed on page 6 [Instructions p.1].
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- The IRS may contact an authorized individual listed on line 3 regarding this return [Instructions p.2].
Questions about IRS Form 8038-TC
What is IRS Form 8038-TC used for?
This form tells the IRS about specific bonds that offer tax credits. Issuers use it to report details about their qualifying bond issues, such as clean renewable energy bonds or school construction bonds. Filing this ensures the IRS has the necessary information regarding these specialized financial instruments.
Who must file IRS Form 8038-TC?
Issuers of qualified tax credit bonds must file Form 8038-TC for each issue after March 2010 and before January 1, 2018. Issuers of specified tax credit bonds must file it for each issue before January 1, 2018.
What information does IRS Form 8038-TC require?
The form collects issuer information in Part III, details on qualified renewable energy facilities in Part III (for CREB), and specifics regarding the use of proceeds for Qualified School Construction Bonds (QSCBs) in Schedule D. Line 3 allows entry for authorizing a non-officer to communicate with the IRS.
When is IRS Form 8038-TC due?
Form 8038-TC must be filed on or before the 15th day of the 2nd calendar month after the close of the calendar quarter in which the bond was issued. It cannot be filed before the issue date.
Where do I file IRS Form 8038-TC?
The form and attachments are sent to the Department of the Treasury, Internal Revenue Service Center in Ogden, UT 84201. Private delivery services (PDS) can also be used for timely filing.
How do I complete IRS Form 8038-TC?
The issuer completes the form based on facts as of the issue date. The filer should enter details in Part III (Issuer Information) and any relevant schedules, such as Schedule D for QSCBs. If authorizing someone else to communicate with the IRS, they must enter their name on line 3. Finally, the form must be signed before sending.
What happens if IRS Form 8038-TC is filed incorrectly?
If Form 8038-TC is filed late for specified tax credit bonds, it still must be submitted 30 days prior to the submission of the first Form 8038-CP for that issue.
Who must file Form 8038-TC?
Issuers of qualified tax credit bonds or specified tax credit bonds listed in the instructions must file it [Instructions p.1].
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