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Note. Issuers of specified tax credit

credit bonds are required to submit this

The amended return must provide all

revised Form 8038-CP to request

bonds must report on Form 8038-TC. The

the information reported on the original

payment of a refundable credit. Revised

IRS will not be able to process the related

return, in addition to the new or corrected

Form 8038-CP will be processed on

subsidy payment request submitted on

information. Attach an explanation of the

receipt for build America bonds and

Form 8038-CP, unless Form 8038-TC is

reason for the amended return and write

recovery zone economic development

filed for these bonds. Issuers that have

across the top, “Amended Return

bonds. Processing of the revised Form

filed Form 8038, Information Return for

Explanation.”

8038-CP submitted for specified tax credit

Tax-Exempt Private Activity Bond Issues,

Note. Do not check the Amended Return

bonds will begin no later than July 12,

for an issue of specified tax credit bonds

box if you are correcting prior filings of

2010. The IRS will make timely

must refile on Form 8038-TC prior to filing

Form 8038-CP by using lines 21a or 21b.

refundable credit payments with respect

the initial Form 8038-CP for these bonds.

Any corrections to Part III must be

to bond interest payment dates on

corrected by using the net adjustment

Rounding to Whole Dollars

specified tax credit bonds that are on or

lines 21a or 21b. Such corrections must

after September 1, 2010. Issuers of

You may show amounts on this return as

only be submitted on a subsequent Form

specified tax credit bonds with interest

whole dollars. To do so, drop amounts

8038-CP filed to request a credit

payment dates prior to September 1,

less than 50 cents and increase amounts

payment. An amended return should only

2010, see Notice 2010-35 for more

from 50 cents through 99 cents to the

be filed:

information.

next higher dollar.

1. To correct information in Parts I

and II for Form 8038-CP, or

Where To File

Where the Requested Payment

2. If you previously filed a final return

Will Be Sent

File Form 8038-CP with the Department

and need to make subsequent corrections

of the Treasury, Internal Revenue Service

The credit payment on line 22 will be sent

to lines 21a or 21b only, then you should

Center, Ogden, UT 84201-0050.

by check to the entity that is to receive

check the Amended Return box.

payment listed in Part I at the address

Private delivery services. You can use

Line 1. Enter the name of the entity to

designated in Part I, unless the issuer has

certain private delivery services

which the requested refundable credit

elected to have the payment deposited

designated by the IRS to meet the “timely

payment is to be paid. If the payment is to

directly, in which case the payment will be

mailing as timely filing/paying” rule for tax

be made to the entity that issued the

directly deposited to the routing and

returns and payments. These private

bonds, enter the name of that issuer. For

account numbers listed on lines 25a and

delivery services include only the

build America bonds and recovery zone

25c.

following:

economic development bonds, the

•

DHL Express (DHL): DHL Same Day

Note. If the entity listed in Part I is not

issuer’s name should be identical to the

Service.

the issuer, the account information

name listed on Form 8038-B, Part I, line

•

Federal Express (FedEx): FedEx

(routing and account numbers listed on

1. For specified tax credit bonds, the

Priority Overnight, FedEx Standard

lines 25a and 25c) must be the account

issuer’s name should be identical to the

Overnight, FedEx 2Day, FedEx

information of the entity listed in Part I. If

name listed on Form 8038-TC, Part I, line

International Priority, and FedEx

the entity listed in Part I is the issuer, the

1. If the issuer authorized another entity

International First.

account information must be the account

(for example, a trustee bank) to receive

•

United Parcel Service (UPS): UPS Next

information of the issuer.

the requested refundable credit payment

Day Air, UPS Next Day Air Saver, UPS

on its behalf, enter the name of that

2nd Day Air, UPS 2nd Day Air A.M., UPS

If the amount of the credit

entity.

Worldwide Express Plus, and UPS

payment requested is required to

Note. The IRS will send payment only to

Worldwide Express.

be offset against other outstanding

CAUTION

the entity listed in Part I. By entering the

taxes or obligations, then the credit

The private delivery service can tell

name of an entity other than the issuer,

payment to be received could be less

you how to get written proof of the mailing

the issuer consents to and authorizes the

than the amount requested. For more

date.

IRS to send the requested refundable

information see Notices 2009-26 and

Other Forms That May Be

credit payment directly to the entity listed

2010-35.

in Part I. The issuer further consents to

Required

Questions on Filing Form

and authorizes the IRS to communicate

For rebating arbitrage (or paying a

8038-CP

directly with the entity listed in Part I and

penalty in lieu of arbitrage rebate) to the

to disclose its return information to that

For specific questions on how to file Form

Federal Government, use Form 8038-T,

entity, as necessary, in order to process

8038-CP send an email to the IRS at:

Arbitrage Rebate, Yield Reduction and

the refundable credit payment.

TaxExemptBondQuestions@irs.gov

Penalty in Lieu of Arbitrage Rebate. For

Line 2. Enter the employer identification

and put “Form 8038-CP Question” in the

the issuance of all build America bonds

number (EIN) of the entity identified in line

subject line. In the email include a

and recovery zone economic

1. If the issuer is the entity listed in Part I,

description of your question, a return

development bonds, use Form 8038-B,

for build America bonds and recovery

email address, the name of a contact

Information Return for Build America

zone economic development bonds the

person, and a telephone number.

Bonds and Recovery Zone Economic

issuer’s EIN should be identical to the EIN

Development Bonds. The Form 8038-B

listed on Form 8038-B, Part I, line 2. If the

Specific Instructions

associated with a Form 8038-CP filing

issuer is the entity listed in Part I, for

must be filed at least 30 days prior to the

specified tax credit bonds, the issuer’s

Part I—Information on Entity

submission of the first Form 8038-CP of

EIN should be identical to the EIN listed

the bond issue. For more information, see

That Is To Receive Payment of

on Form 8038-TC, Part I, line 2. An entity

Notice 2009-26. For reporting the

Credit and Communications

that does not have an EIN should apply

issuance of all tax credit bonds, including

for one on Form SS-4, Application for

Amended return. An issuer may file an

specified tax credit bonds, use Form

Employer Identification Number. You can

8038-TC, Information Return for Tax

amended return to change or add to the

get this form on the IRS website at

www.

Credit Bonds and Specified Tax Credit

information reported on a previously filed

irs.gov

or by calling 1-800-TAX-FORM

Bonds. For specified tax credit bonds, the

return, with respect to a single issue for

(1-800-829-3676). You may receive an

Form 8038-TC associated with a Form

the same interest payment date. If you

EIN by telephone by following the

8038-CP filing must be filed at least 30

are filing to correct errors or change a

instructions for Form SS-4.

days prior to the submission of the first

previously filed return, check the

Form 8038-CP of the bond issue. For

Amended Return box in the heading of

Lines 5 and 6. If the issuer is not the

more information, see Notice 2010-35.

the return.

entity listed in Part I, enter on line 5 the

-2-

Instructions For Form 8038-Cp - Return For Credit Payments To Issuers Of Qualified Bonds - Internal Revenue Service Page 2

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