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Form 8038B: Information Return for Build America Bonds and Recovery Zone Economic Development Bonds
Treasury Form 8038-B is an Information Return for Build America Bonds and Recovery Zone Economic Development Bonds that issuers must file to provide the IRS with required information under section 149(e).
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IRS Form 8038B - Information Return for Build America Bonds and Recovery Zone Economic Development Bonds
Treasury Form 8038-B is an Information Return for Build America Bonds and Recovery Zone Economic Development Bonds that issuers must file to provide the IRS with required information under section 149(e).
Risk Radar
Scan points- 1Ensure you file a separate Form 8038-B for *each* qualifying bond issue.
- 2Failing to file a separate Form 8038-B for each individual bond issue.
- 3Not completing lines 2 and 3 when checking boxes 1b or 1c in Part II.
- 4Checking both box 4a (TANs/RANs) and box 4b (BANs) simultaneously.
- 5Filing the form before the actual date of bond issuance.
Plain English
This form tells the Internal Revenue Service about specific bonds issued by a governmental entity. It details important facts about those bonds, such as when interest is paid and what type of bond was sold. Issuers must file this report to properly inform the IRS about these tax-exempt obligations.
Submission Date
- Filing date: 2018-09-14 23:00:05
- 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 Build America bonds (Tax Credit), Build America bonds (Direct Pay), or Recovery Zone Economic Development bonds issued after February 2010 and before January 1, 2011.
- Do not use Form 8038-B when the bond issue is a qualified forestry conservation bond, new clean renewable energy bond, qualified energy conservation bond, qualified zone academy bond, or qualified school construction bond issued after December 31, 2017 (these are covered under repeal provisions).
- Check Form 8038-G instead when the bond issue consists of both tax-exempt bonds and Build America bonds, as you must report the tax-exempt portion on Form 8038-G.
Form selector
Use this form or another form?
Issuing a single bond that is both Tax Credit and Direct Pay
Each type of build America bond must be reported on a separate Form 8038-B.
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Requesting payment for an interest payment date (Direct Pay/Recovery Zone)
Form 8038-B must be filed at least 30 days prior to the submission of the first Form 8038-CP.
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Rebating arbitrage or paying a penalty in lieu of rebate
Use this form specifically for rebating arbitrage, yield reduction, or penalty payment related to the bond issue.
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Deadline or filing window
The trigger event is the close of a calendar quarter in which the bond was issued. The deadline is the 15th day of the 2nd calendar month following that quarter's close. If filed late, it must still arrive within 30 days prior to the first Form 8038-CP submission for that issue.
Checklist
What you need before filling it out
Build America Bonds (Direct Pay) & Recovery Zone ED Bonds
Must attach a debt service schedule · Instructions p.2
All Forms 8038-B
Issuer's name and EIN · Instructions p.1
Variable Rate Issues
Last interest payment date applicable to the quarterly period · Form 8038-B (Line 3) / Instructions p.2
Late Filing Extension Request
Must type/print: “Request for Relief under Section 3 of Rev. Proc. 2002-48” · Instructions p.1 (Note)
Filing Deadline
On or before the 15th day of the 2nd calendar month after the close of the calendar quarter in which the bond was issued · Instructions p.1
Before you submit
- 1Ensure you have filed a separate Form 8038-B for each specific issue of Build America bonds and Recovery Zone Economic Development bonds (if applicable).
- 2Confirm that the form is completed based on the facts as of the bond's issue date.
- 3If filing for Direct Pay or Recovery Zone ED Bonds, verify you have attached a complete debt service schedule.
- 4For variable rate issues, confirm the last interest payment date (in MM/DD/YYYY) is entered correctly on Line 3.
- 5Ensure your issuer's name and EIN are printed at the top of Form 8038-B and all schedules.
- 6If filing late, verify you have typed or printed “Request for Relief under Section 3 of Rev. Proc. 2002-48” on the form.
- 7Confirm that if rounding cents to whole dollars, *all* amounts on the form are rounded consistently.
How to file this form
- 1Complete Form 8038-B for each bond issue after February 2010 and before January 1, 2011, ensuring all attached schedules include your name and EIN.
- 2If the bonds are Direct Pay or Recovery Zone ED Bonds, attach a complete debt service schedule to the form.
- 3File Form 8038-B on or before the 15th day of the 2nd calendar month following the close of the bond's issue quarter.
- 4Send Form 8038-B and attachments to the Department of the Treasury, Internal Revenue Service Center in Ogden, UT 84201 (or use a designated Private Delivery Service).
- 5Keep a copy of the completed and signed form for your records.
Known limitations
- 1The authority to issue tax-credit bonds and direct-pay bonds expired for 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.
- 2The authority to issue recovery zone economic development bonds and build America bonds expired on January 1, 2011.
- 3If an issue consists of variable rate, fixed rate, or both variable rate and fixed rate bonds, a separate Form 8038-B must be filed for that single issue.
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 revision date is 01/10, and instructions reference IRS.gov/Form8038B for the latest information regarding developments related to this form.
What changed or needs a fresh check
- Edition date — confirm the revision date reads 01/10.
- Mailing address — verify the primary mailing location is Ogden, UT 84201.
- Filing deadline — confirm filing on or before the 15th day of the 2nd calendar month after the close of the calendar quarter in which the bond was issued.
- Taxpayer Identification Number (EIN) — ensure the issuer's EIN is listed at the top of Form 8038-B and all attached schedules.
Quick Facts
Downloads
After you file
- 1Keep a copy of the completed Form 8038-B.
- 2If filing late, ensure the Form 8038-B is submitted 30 days prior to the submission of the first Form 8038-CP for that specific issue.
- 3When using a designated Private Delivery Service (PDS), obtain written proof of the mailing date.
- 4If sending via U.S. Postal Service, ensure the item is mailed to the IRS address specified in 'Where To File'.
Sources
- SRCInstructions p.1 — Purpose of Form 8038-B is to be used by issuers of build America bonds (Tax Credit), build America bonds (Direct Pay), and recovery zone economic development bonds for information required by section 149(e).
- SRCInstructions p.1 — Governmental issuers must file a separate Form 8038-B for each issue of these bonds issued after February 2010 and before January 1, 2011.
- SRCInstructions p.1 — The deadline to file is on or before the 15th day of the 2nd calendar month after the close of the quarter in which the bond was issued.
- SRCInstructions p.1 — Form 8038-B must be filed on or before the 15th day of the 2nd calendar month following the issue date, and cannot be filed before the issue date.
- SRCInstructions p.1 — The filing address is Department of the Treasury, Internal Revenue Service Center, Ogden, UT 84201.
- SRCInstructions p.2 — Line 3 requires checking a box indicating the interest payment date frequency for variable rate issues.
- SRCInstructions p.2 — Issuers of build America bonds (Direct Pay) and recovery zone economic development bonds must attach a debt service schedule to Form 8038-B.
- SRCInstructions p.2 — Line 2 is where the last interest payment date applicable to the quarterly period for variable rate issues is entered in MM/DD/YYYY format.
Common confusion points
Which bonds must be reported on Form 8038-B?
The form is used for issuers of build America bonds (Tax Credit), build America bonds (Direct Pay), and recovery zone economic development bonds.
→ Check the General Instructions Purpose section to confirm these three types are covered.
How many copies/forms must be filed if an issue has different bond types?
An issuer must file a separate Form 8038-B for each specific type of build America bond (Tax Credit, Direct Pay) or recovery zone economic development bonds issued after February 2010 and before January 1, 2011.
→ Review the 'Who Must File' section to ensure one form is filed per distinct bond type.
When must Form 8038-B be submitted?
The filing deadline is on or before the 15th day of the 2nd calendar month after the close of the calendar quarter in which the bond was issued.
→ Confirm the issue date and calculate the due date according to this rule.
What happens if Form 8038-B is filed late?
Even if filed late, Form 8038-B must still be submitted 30 days prior to the submission of the first Form 8038-CP for that specific issue.
→ Check your filing date against the expected submission date of Form 8038-CP.
Where exactly should Form 8038-B be mailed?
The form and any attachments must be sent to the Department of the Treasury, Internal Revenue Service Center in Ogden, UT 84201.
→ Verify this address against the 'Where To File' section; note that private delivery services (PDS) are also accepted.
Must I use a specific IRS mailing address if using PDS?
Yes, when using a designated Private Delivery Service (PDS), the issuer should use the address found at IRS.gov/PDSstreetAddresses for the filing.
→ Double-check that the PDS service you selected directs you to this specific street address.
What is the difference between reporting an issue with fixed vs. variable rate bonds?
The instruction applies regardless of whether a single issue consists of variable rate, fixed rate, or both variable rate and fixed rate bonds; however, for variable rate issues, an additional date must be entered on Line 2 (MM/DD/YYYY).
→ Check the instructions to see if you need to fill out Line 2 specifically because your issue is variable rate.
What information goes on Form 8038-B regarding other parties?
If authorizing someone other than an issuer officer to communicate with the IRS, that person's name must be entered on line 3; this person must be an individual.
→ Ensure you do not enter the name and title of an issuer officer on Line 3, as that belongs on Line 10.
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⚠ If something goes wrong
- Use the instructions for Form 8038-B (Rev. September 2018) to guide filing.
Questions about IRS Form 8038B
What is IRS Form 8038B used for?
This form tells the Internal Revenue Service about specific bonds issued by a governmental entity. It details important facts about those bonds, such as when interest is paid and what type of bond was sold. Issuers must file this report to properly inform the IRS about these tax-exempt obligations.
Who must file IRS Form 8038B?
Governmental issuers of build America bonds and recovery zone economic development bonds must file Form 8038-B for each issue that occurred after February 2010 and before January 1, 2011.
What information does IRS Form 8038B require?
The form collects details about the obligations across its various sections. Part II identifies bond types and interest payment dates, while Part IV allows description of specific obligations.
When is IRS Form 8038B due?
Form 8038-B 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.
Where do I file IRS Form 8038B?
Issuers send Form 8038-B and attachments to the Department of the Treasury, Internal Revenue Service Center in Ogden, UT 84201. Private delivery services can also be used for timely filing.
How do I complete IRS Form 8038B?
The issuer completes the form by identifying the bond type in Part II and filling out relevant lines. If authorizing a third party, they enter their name on line 3. The final step is ensuring all details match the facts as of the issue date before filing.
What happens if IRS Form 8038B is filed incorrectly?
If Form 8038-B is filed late, it must still arrive within 30 days prior to the submission of the first Form 8038-CP for that issue.
Which bonds must be reported on Form 8038-B?
The form is used for issuers of build America bonds (Tax Credit), build America bonds (Direct Pay), and recovery zone economic development bonds. Check the General Instructions Purpose section to confirm these three types are covered.
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