Instructions For Form 1097-Btc - Bond Tax Credit

Form 1097-BTC Issuer’s Federal Identification

in gross income and must be reported as interest income on a

Form 1099-INT or Form 1099-OID, as applicable. For more

Number

information on reporting the tax credit treated as interest

Enter the Form 1097-BTC Issuer’s federal identification

income as paid from tax credit bonds, see the Instructions for

number, such as an employer identification number (EIN). An

Forms 1099-INT and 1099-OID.

issuer that does not have an EIN should apply for one. See

Form SS-4, Application for Employer Identification Number.

When to File

Recipient’s Federal Identification Number

File Copy A of Form 1097-BTC with the IRS by February 28,

2013 (April 1, 2013, if filed electronically). See Statement to

Enter the federal identification number, such as an EIN or social

Recipient, below, for furnishing statements to recipients.

security number, of the recipient of the distributed (or stripped)

credit from the tax credit bond.

Penalties for Failure To File

Recipient’s Name

There are penalties for failure to file correct information returns

by the due date and for failure to furnish correct payee

Enter the name of the recipient of the distributed (or stripped)

statements. See part O in the 2012 General Instructions for

credit from the tax credit bond. If not an individual, enter the

Certain Information Returns for details. The failure to file Forms

entity’s true name (as set forth in the legal documents creating

1097-BTC also includes the requirement to file electronically.

it).

For more information on penalties for failure to file

Recipient’s Street Address (Including Apt. No.)

electronically, see part F in the 2012 General Instructions for

Enter the street address, city, state, and ZIP code of the

Certain Information Returns.

recipient’s principal office or place of business. Include the

Statement to Recipient

suite, room, or other unit number after the street address. If the

post office does not deliver mail to the street address and the

If required to file Form 1097-BTC, you must provide a statement

entity has a P.O. box, show the box number instead.

to the recipient quarterly for each credit amount indicated on or

before the 15th day of the 2nd calendar month after the close of

Note. Do not use the address of the registered agent for the

the calendar quarter in which the credit was allowed. Do not

state in which the recipient is incorporated.

furnish Copy B of this form to the recipient for the fourth quarter.

If the recipient receives its mail in care of a third party (such

Instead, report fourth quarter credit on Copy B that includes the

as an accountant or an attorney), enter for the street address

credits for each month of the 2012 calendar year and the

“C/O” followed by the third party’s name and street address or

aggregate total for the year by February 15, 2013.

P.O. box.

For the first three quarters, report to the recipient only the

Check, as applicable, whether you are the issuer of the bond

amounts for the months of the applicable quarter. Box 1 should

or its agent filing the initial 2012 Form 1097-BTC for the bond or

not be reported and boxes 2a, 2b, and 6 are optional.

are an entity or a person that received a 2012 Form 1097-BTC

for credit(s) that was or should have been reported.

You are not required to furnish a report solely for the fourth

quarter because the fourth quarter amounts are reported with

Box 1. Total

the annual filing. For the annual filing, report the credits for each

Enter the total amount of credits distributed to the recipient with

month in boxes 5a – 5l; the total of those amounts in box 1; and

respect to the amounts reported in boxes 5a – 5l.

complete the rest of the form as applicable. If any amounts

This box should be only filled out when Copy B of the form is

previously furnished for the first three quarters need to be

sent to the recipient. See Statement to Recipient, earlier.

corrected, report the correct amounts for the annual reporting

and explain the correction to the recipient; no explanation is

Box 2a. Code

required for the IRS filing.

Enter the unique identification number code. Enter “A” for

For the report furnished to the recipient (quarterly or annual),

account number, “C” for CUSIP number, and “O” if the unique

you may use Copy B or your own substitute statement reporting

identification number is not an account number or a CUSIP

all the same applicable information (the reporting for the first

number, such as a self-provided identification number. If you

three quarters may be furnished electronically).

checked the first box under Form 1097-BTC issuer, enter “C”.

Box 2b. Unique Identifier

The IRS encourages Form 1097-BTC issuers to provide the

credit information to the recipient monthly if applicable, and as

The unique identification number is assigned by the Form

soon after the end of the month in which a credit arises as

1097-BTC issuer or its agent and is limited to 39 alphanumeric

possible.

characters. It can be the account number, CUSIP number, or

any other self-provided identification number.

See Publication 1179. For more information about the

requirement to furnish a statement to the recipient, see part M

For a bond issuer or its agent filing the 2012 Form 1097-BTC

in the 2012 General Instructions for Certain Information

for a bond, the unique identification number must start with the

Returns.

CUSIP number(s) and, may be expanded by the account

number or any other self-provided number(s). A recipient of a

Initial Issuer. If issuing the initial Form 1097-BTC as an issuer

Form 1097-BTC that issues its own Form 1097-BTC to further

of the bond or its agent, box 2a of the form will always reflect

distribute the credit may use or devise its own unique identifier

code “C.”

using whatever means it deems best.

Form 1097-BTC Issuer’s Name, Address, and

Box 3. Bond Type

Telephone Number

Enter code “101” for clean renewable energy bonds issued

Enter the name, street address, city, state, and ZIP code, and

under section 54. Enter code “199” for all other bonds.

telephone number of the entity issuing the Form 1097-BTC.

Multiple bond types can be entered on one Form

Enter the entity’s true name (as set forth in the legal

TIP

1097-BTC, other than clean renewable energy bonds.

documents creating it). Enter the address of the entity’s

Credits from clean renewable energy bonds must be

principal office or place of business. Include the suite, room, or

reported on a separate Form 1097-BTC.

other unit number after the street address. If the post office

Box 4.

does not deliver mail to the street address and the entity has a

P.O. box, show the box number instead.

Reserved.

Boxes 5a–5l.

Note. Do not use the address of the registered agent for the

state in which the entity is incorporated. For example, if a

Enter the amount of credit allowed for each month during the

business is incorporated in Delaware or Nevada and the

calendar year.

corporation’s principal office is located in Little Rock, AR, the

Note. For new clean renewable energy bonds issued under

corporation should enter the Little Rock address.

section 54C and qualified energy conservation bonds, report

If the entity receives its mail in care of a third party (such as

the credit amount after the 70% limit has been applied.

an accountant or an attorney), enter for the street address

Box 6. Comments

“C/O” followed by the third party’s name and street address or

P.O. box.

Enter any additional information.

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Instructions For Form 1097-Btc - Bond Tax Credit - 2012 Page 4

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