Looking for a Form 8038-g Templates? Download it for free!

Issue. Generally, obligations are treated

return for the same date of issue. If you

exchanges the bonds that are part of the

as part of the same issue if they are

are filing to correct errors or change a

issue for the underwriter’s (or other

issued by the same issuer, on the same

previously filed return, check the

purchaser’s) funds. For a lease or

date, and in a single transaction, or a

Amended Return box in the heading of

installment sale, enter the date interest

series of related transactions. However,

the form.

starts to accrue in a MM/DD/YYYY

obligations issued during the same

format.

The amended return must provide all

calendar year (a) under a loan agreement

the information reported on the original

Line 8. If there is no name of the issue,

under which amounts are to be advanced

return, in addition to the new or corrected

please provide other identification of the

periodically (a “draw-down loan”) or (b)

information. Attach an explanation of the

issue.

with a term not exceeding 270 days, may

reason for the amended return and write

be treated as part of the same issue if the

Line 9. Enter the CUSIP (Committee on

across the top, “Amended Return

obligations are equally and ratably

Uniform Securities Identification

Explanation.” Failure to attach an

secured under a single indenture or loan

Procedures) number of the bond with the

explanation may result in a delay in

agreement and are issued under a

latest maturity. If the issue does not have

processing the form.

common financing arrangement (for

a CUSIP number, write “None.”

Line 1. The issuer’s name is the name of

example, under the same official

the entity issuing the obligations, not the

Line 10a. Enter the name and title of the

statement periodically updated to reflect

name of the entity receiving the benefit of

officer or other employee of the issuer

changing factual circumstances). Also, for

the financing. For a lease or installment

whom the IRS may call for more

obligations issued under a draw-down

sale, the issuer is the lessee or the

information. If the issuer wishes to

loan that meet the requirements of the

purchaser.

designate a person other than an officer

preceding sentence, obligations issued

or other employee of the issuer (including

during different calendar years may be

Line 2. An issuer that does not have an

a legal representative or paid preparer)

treated as part of the same issue if all of

employer identification number (EIN)

whom the IRS may call for more

the amounts to be advanced under the

should apply for one on Form SS-4,

information about the return, enter the

draw-down loan are reasonably expected

Application for Employer Identification

name, title, and telephone number of

to be advanced within 3 years of the date

Number. You can get this form on the IRS

such person on lines 3a and 3b.

of issue of the first obligation. Likewise,

website at IRS.gov or by calling

obligations (other than private activity

1-800-TAX-FORM (1-800-829-3676). You

Complete lines 10a and 10b even

bonds) issued under a single agreement

may receive an EIN by telephone by

if you complete lines 3a and 3b.

that is in the form of a lease or installment

following the instructions for Form SS-4.

CAUTION

sale may be treated as part of the same

Line 3a. If the issuer wishes to authorize

issue if all of the property covered by that

a person other than an officer or other

Part II—Type of Issue

agreement is reasonably expected to be

employee of the issuer (including a legal

delivered within 3 years of the date of

representative or paid preparer) to

Elections referred to in Part II are

issue of the first obligation.

communicate with the IRS and whom the

made on the original bond

Arbitrage rebate. Generally, interest on

IRS may contact about this return

documents, not on this form.

CAUTION

a state or local bond is not tax-exempt

(including in writing or by telephone),

unless the issuer of the bond rebates to

enter the name of such person here. The

Identify the type of obligations issued

the United States arbitrage profits earned

person listed in line 3a must be an

by entering the corresponding issue price

from investing proceeds of the bond in

individual. Do not enter the name and title

(see Issue price under Definitions earlier).

higher yielding nonpurpose investments.

of an officer or other employee of the

Attach a schedule listing names and EINs

See section 148(f).

issuer here (use line 10a for that

of organizations that are to use proceeds

purpose).

of these obligations, if different from those

Construction issue. This is an issue of

of the issuer, include a brief summary of

tax-exempt bonds that meets both of the

Note. By authorizing a person other than

the use and indicate whether or not such

following conditions:

an authorized officer or other employee of

user is a governmental or

the issuer to communicate with the IRS

1. At least 75% of the available

nongovernmental entity.

and whom the IRS may contact about this

construction proceeds are to be used for

return, the issuer authorizes the IRS to

construction expenditures with respect to

Line 18. Enter a description of the issue

communicate directly with the individual

property to be owned by a governmental

in the space provided.

entered on line 3a and consents to

unit or a section 501(c)(3) organization,

Line 19. If the obligations are short-term

disclose the issuer’s return information to

and

tax anticipation notes or warrants (TANs)

that individual, as necessary, to process

2. All the bonds that are part of the

or short-term revenue anticipation notes

this return.

issue are qualified 501(c)(3) bonds,

or warrants (RANs), check box 19a. If the

bonds that are not private activity bonds,

Lines 4 and 6. If you listed an individual

obligations are short-term bond

or private activity bonds issued to finance

on line 3a to communicate with the IRS

anticipation notes (BANs), issued with the

property to be owned by a governmental

and whom the IRS may contact about this

expectation that they will be refunded with

unit or a section 501(c)(3) organization.

return, enter the number and street (or

the proceeds of long-term bonds at some

P.O. box if mail is not delivered to street

In lieu of rebating any arbitrage that

future date, check box 19b. Do not check

address), city, town, or post office, state,

both boxes.

may be owed to the United States, the

and ZIP code of that person. Otherwise,

issuer of a construction issue may make

enter the issuer’s number and street (or

Line 20. Check this box if property other

an irrevocable election to pay a penalty.

P.O. box if mail is not delivered to street

than cash is exchanged for the obligation,

The penalty is equal to 1

% of the

address), city, town, or post office, state,

for example, acquiring a police car, a fire

amount of construction proceeds that do

and ZIP code.

truck, or telephone equipment through a

not meet certain spending requirements.

series of monthly payments. (This type of

Note. The address entered on lines 4

See section 148(f)(4)(C) and the

obligation is sometimes referred to as a

and 6 is the address the IRS will use for

Instructions for Form 8038-T.

“municipal lease.”) Also check this box if

all written communications regarding the

real property is directly acquired in

Specific Instructions

processing of this return, including any

exchange for an obligation to make

notices.

periodic payments of interest and

Part I—Reporting Authority

Line 5. This line is for IRS use only. Do

principal. Do not check this box if the

not make any entries in this box.

Amended return. An issuer may file an

proceeds of the obligation are received in

amended return to change or add to the

Line 7. The date of issue is generally the

the form of cash, even if the term “lease”

information reported on a previously filed

date on which the issuer physically

is used in the title of the issue.

-2-

Instructions For Form 8038-G - Information Return For Tax-Exempt Governmental Obligations - Internal Revenue Service - 2011 Page 2

Related Articles

Related forms

Related Categories