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Form 8038G: Information Return for Tax-Exempt Governmental Bonds
IRS Form 8038G is an Information Return for Tax-Exempt Governmental Bonds used by issuers to provide the IRS with required data under section 149(e). Issuers must file a separate Form 8038-G if the issue price is $100,000 or more.
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IRS Form 8038G - Information Return for Tax-Exempt Governmental Bonds
IRS Form 8038G is an Information Return for Tax-Exempt Governmental Bonds used by issuers to provide the IRS with required data under section 149(e). Issuers must file a separate Form 8038-G if the issue price is $100,000 or more.
Risk Radar
Scan points- 1Ensure the bond issue qualifies for Form 8038-G (>$100k) vs. Form 8038-GC (<$100k).
- 2Failing to file a separate Form 8038-G for each issue when the price is $100,000 or more.
- 3Not completing the form based on facts as of the date of issue.
- 4Omitting details about bond issuance costs (Line 24) if zero proceeds are used.
- 5Filing without checking the Amended Return box when correcting a prior submission.
Plain English
This form tells the Internal Revenue Service (IRS) about tax-exempt bonds issued by governments. It ensures the IRS tracks compliance with rules for these bonds and provides necessary financial details about the issuance. Issuers must submit this return to report their bond activity correctly.
Submission Date
- Filing date: 2021-10-06 22:10:35
- 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 issuing tax-exempt governmental bonds after December 31, 1986, and the issue price is $100,000 or more.
- Do not use Form 8038G when the bond issue price is less than $100,000; in that case, use Form 8038-GC.
- Check Form 8038 instead when issuing tax-exempt private activity bonds.
Form selector
Use this form or another form?
Rebating arbitrage to the federal government
Required for rebating arbitrage or paying a penalty in lieu of arbitrage rebate.
✓ Check if you are performing an arbitrage transaction.
Private activity bonds
Used specifically when issuing tax-exempt private activity bonds.
✓ Ensure the bond is not governmental.
Construction issue with election made
A box on Form 8038G must be checked if a penalty in lieu of arbitrage rebate was elected for a construction issue.
✓ Confirm the election date relative to the issue date.
Deadline or filing window
The filing deadline is the 15th day of the 2nd calendar month following the close of the quarter in which the bond was issued. An issuer may request an extension under section 3 of Rev. Proc. 2002-48 if timely filing is not due to willful neglect.
Checklist
What you need before filling it out
Issue Price (Line 21, Column (b))
The specific monetary value of the bond issue. · Form 8038G
Filer Name/EIN (Lines 1 & 2)
Issuer’s name and Employer Identification Number (EIN). · Form 8038G, Part I
Filing Deadline
On or before the 15th day of the 2nd calendar month after the close of the quarter in which the bond was issued. · Instructions p.1
Late Filing Request
Must state: “Request for Relief under section 3 of Rev. Proc. 2002-48” and include a letter explaining the delay. · Instructions p.1
Hedge Identification (Line 41a)
Check box indicating identification of a hedge per Regulations sections 1.148-4(h)(2)(viii) and 1.148-4(h)(5)(iv). · Form 8038G, Line 41a
Preissuance Expenditure Reimbursement (Instructions p.3)
Issuer must adopt an official intent to reimburse itself for preissuance expenditures within 60 days after payment of the original expenditure. · Instructions p.3
Before you submit
- 1Verify that the issue price is $100,000 or more before proceeding.
- 2Confirm the form reflects the required rounding method (whole dollars).
- 3Ensure Line 21, column (b) contains the correct issue price.
- 4Check the box on Form 8038G if the issue is a construction issue AND an election to pay penalty in lieu of arbitrage rebate was made.
- 5Verify that any hedge has been correctly identified and reported by checking Line 41a.
- 6Ensure all required information for the filer (Name, EIN, Contact) is present on Part I.
- 7If filing late, confirm you have attached a letter explaining the delay and indicating examination status.
How to file this form
- 1Complete Form 8038-G by filling in all required data based on the facts as of the issue date.
- 2Check the appropriate boxes regarding construction issues, hedge identification (Line 41a), and other requirements.
- 3If filing late, attach a letter stating: “Request for Relief under section 3 of Rev. Proc. 2002-48” and confirming examination status.
- 4Mail Form 8038G to the Department of the Treasury Internal Revenue Service Center in Ogden, UT 84201 (Do not submit copies of trust indentures).
- 5Obtain written proof of mailing if using a designated Private Delivery Service (PDS) for timely filing.
Known limitations
- 1Issuers must file Form 8038-GC if the issue price is less than $100,000.
- 2If bonds are short-term bond anticipation notes (BANs), box 19b must be checked to indicate this status; do not check both boxes on line 19.
- 3An issuer may file an amended return for the same date of issue if they need to change or add information reported previously, requiring them to check the Amended Return box in the heading.
- 4A penalty is equal to $1 rac{1}{2}%$ of the available construction proceeds that do not meet certain spending requirements as of the close of each 6-month period after issuance (see section 148(f)(4)(C) and Instructions for Form 8038-T).
- 5An issuer must adopt an official intent to reimburse itself for preissuance expenditures within 60 days after payment of the original expenditure, subject to certain exceptions under Regulations section 1.150-2(f).
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 October 2021 (Rev. October 2021). The instructions direct users to IRS.gov/Form8038G for the latest information regarding developments related to this form.
What changed or needs a fresh check
- Edition date — confirm the revision reads October 2021.
- Mailing address — confirm the recipient is Center Ogden, UT 84201.
- Form number — confirm the title reads Information Return for Tax-Exempt Governmental Bonds.
- Rounding rule — confirm amounts are rounded to whole dollars by dropping amounts under $50 cents and increasing amounts from $50 to $99 cents to the next dollar.
Quick Facts
Downloads
After you file
- 1Keep a copy of the filed Form 8038-G.
- 2If filing late, an issuer may request an extension using section 3 of Rev. Proc. 2002-48, 2002-37 I.R.B. 531 by attaching a letter explaining the delay and indicating if the issue is under IRS examination.
- 3When submitting to the IRS Center in Ogden, UT 84201, do not include copies of the trust indenture or other bond documents.
- 4If using a Private Delivery Service (PDS), confirm how to get written proof of the mailing date via IRS.gov/PDS.
Sources
- SRCInstructions p.1 — Purpose of Form 8038-G is for issuers of tax-exempt governmental bonds to provide the IRS with required information under section 149(e) and monitor compliance with sections 141 through 150.
- SRCInstructions p.1 — Issuers must file a separate Form 8038-G if the issue price (line 21, column (b)) is $100,000 or more.
- SRCInstructions p.1 — The filing deadline for Form 8038-G is on or before the 15th day of the 2nd calendar month after the close of the calendar quarter in which the bond is issued.
- SRCInstructions p.1 — If bonds are short-term bond anticipation notes (BANs), check box 19b on Form 8038-G, and do not check both boxes.
- SRCInstructions p.2 — An issuer may file an amended return using Form 8038-G if they need to change or add information reported previously for the same date of issue.
- SRCInstructions p.2 — The penalty for construction issues is $1 rac{1}{2}%$ of available construction proceeds that do not meet certain spending requirements as of the close of each 6-month period after issuance (see section 148(f)(4)(C) and Instructions for Form 8038-T).
Common confusion points
Who must file Form 8038-G?
Issuers of tax-exempt governmental bonds must file it to provide information required by section 149(e) and monitor compliance with sections 141 through 150.
→ Confirm the issuer is filing for a bond issue where the issue price (line 21, column (b)) is $100,000 or more.
Where should I send Form 8038-G?
The form must be filed with the Department of the Treasury Internal Revenue Service Center in Ogden, UT 84201.
→ Double-check that the address listed on the form matches: Ogden, UT 84201.
What is the penalty for not meeting spending requirements?
The penalty equals $1 1/2%$ of the amount of the available construction proceeds of the issue that do not meet certain spending requirements as of the close of each 6-month period after the date the bonds were issued.
→ Verify this percentage on line 3c or in the instructions for Form 8038-T.
When should I file an amended return?
An issuer may file an amended return to change or add information reported on a previously filed return for the same date of issue.
→ Check the 'Amended Return' box in the heading if you are correcting errors or changing previous submissions.
What is the difference between authorizing someone and using line 10a?
Line 3a requires entering an individual's name to authorize them to communicate with the IRS; line 10a is for entering the name/title of an officer or other employee of the issuer.
→ If you list a company representative, use line 3a. If you list your CEO, use line 10a.
Do I need to send copies of my bond documents with Form 8038-G?
No, issuers must not submit copies of the trust indenture or other bond documents when filing Form 8038-G.
→ Confirm that you are only mailing the form itself (and any required attachments) and not extra paperwork.
What is a 'pooled financing issue'?
A pooled financing issue is an issue of tax-exempt bonds whose proceeds fund investments representing conduit loans to two or more conduit borrowers, unless those conduit loans finance a single capital project.
→ Check if the bond proceeds are going to multiple loan recipients (conduit borrowers) to determine this classification.
What must be done regarding preissuance expenditures?
Subject to certain exceptions under Regulations section 1.150-2(f), an issuer must adopt an official intent, as described in Regulations section 1.150-2(e), to reimburse itself for preissuance expenditures within 60 days after payment of the original expenditure.
→ Ensure documentation supports that reimbursement intent is established within 60 days following the initial outlay.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- An issuer may file an amended return on Form 8038-G to correct errors or change previously reported information.
Questions about IRS Form 8038G
What is IRS Form 8038G used for?
This form tells the Internal Revenue Service (IRS) about tax-exempt bonds issued by governments. It ensures the IRS tracks compliance with rules for these bonds and provides necessary financial details about the issuance. Issuers must submit this return to report their bond activity correctly.
Who must file IRS Form 8038G?
Issuers of tax-exempt governmental bonds must file Form 8038G if the issue price (line 21, column (b)) is $100,000 or more. If the issue price is less than $100,000, issuers use Form 8038-GC.
What information does IRS Form 8038G require?
The form collects details on the bond issuance, including a description in Part II (Line 18). It also captures financial data like proceeds used for interest (Line 22) and bond issuance costs (Line 24).
When is IRS Form 8038G due?
Form 8038-G 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 is issued. It cannot be filed before the issue date.
Where do I file IRS Form 8038G?
Form 8038-G and any attachments are filed with the Department of the Treasury Internal Revenue Service Center in Ogden, UT 84201. Private delivery services (PDS) can also be used for timely mailing.
How do I complete IRS Form 8038G?
Issuers must complete the form based on facts as of the issue date and then submit it. If correcting a prior filing, check the Amended Return box in the heading. The issuer signs the form before sending it to meet the official requirement.
What happens if IRS Form 8038G is filed incorrectly?
If filing late without justification, an issuer may be granted an extension under section 3 of Rev. Proc. 2002-48, but failure to file timely means the IRS has less information on compliance.
Who must file Form 8038-G?
Issuers of tax-exempt governmental bonds must file it to provide information required by section 149(e) and monitor compliance with sections 141 through 150. Confirm the issuer is filing for a bond issue where the issue price (line 21, column (b)) is $100,000 or more.
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