Instructions For Form 1097-Btc - Bond Tax Credit - 2018
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Department of the Treasury
Internal Revenue Service
Instructions for Form
1097-BTC
Bond Tax Credit
Section references are to the Internal Revenue Code
Filings of Form 1097-BTC with respect to a bond, by
unless otherwise noted.
the issuer or the issuer's agent, must be made on a
separate Form 1097-BTC for each bond.
Future Developments
For tax credit bonds issued with two or more maturities,
For the latest information about developments related to
each maturity must be reported separately on the Form
Form 1097-BTC and its instructions, such as legislation
1097-BTC issued by the bond issuer or its agent.
enacted after they were published, go to
IRS.gov/
Form1097BTC.
Recipients of Form 1097-BTC from the bond issuer or
agent, such as brokers, nominees, mutual funds, or
What’s New
partnerships, who are further distributing the credit must
Due to the very low volume of paper Forms 1097-BTC
file only one Form 1097-BTC per recipient or account,
received and processed by the IRS each year, this form
aggregating credit from all applicable bonds.
has been converted to an online fillable format. You may
Note. Issuers that have elected to issue build America
fill out the form, found online at IRS.gov/Form1097BTC,
bonds (Direct Pay) under section 54AA(g) or specified tax
and send Copy B to the recipient. For filing with the IRS,
credit bonds under section 6431(f) to receive a refundable
follow your usual procedures for filing electronically if you
credit under section 6431(a) in lieu of tax credits under
are filing 250 or more forms. If you are filing this form on
section 54A should not file Form 1097-BTC.
paper due to a low volume of recipients, for this form only,
you may send in the black-and-white Copy A with a Form
Definitions
1096 that you print from the IRS website.
Tax credit bond. Generally, a tax credit bond is an
Reminder
obligation issued under sections 54, 54A, 54AA, 1397E,
In addition to these specific instructions, you should also
or 1400N(l) that entitles the taxpayer holding such bond
use the 2018 General Instructions for Certain Information
on one or more credit allowance dates occurring during
Returns. Those general instructions include information
any tax year to a credit against the federal income tax
about the following topics.
imposed for that tax year.
Who must file (nominee/middleman).
Qualified tax credit bond. Qualified tax credit bonds
When and where to file.
under section 54A include new clean renewable energy
Electronic reporting requirements.
bonds under section 54C, qualified energy conservation
Corrected and voided returns.
bonds under section 54D, qualified zone academy bonds
Statements to recipients.
under section 54E, and qualified school construction
Taxpayer identification numbers (TINs).
bonds under section 54F.
Backup withholding.
Penalties.
New clean renewable energy bond. An obligation that
Other general topics.
is part of an issue, 100% of the available project proceeds
of which are to be used for capital expenditures incurred
You can get the general instructions from
General
by governmental bodies, public power providers, or
Instructions for Certain Information Returns
at
IRS.gov/
cooperative electric companies for one or more qualified
1099generalinstructions
or go to IRS.gov/Form1097BTC.
renewable energy facilities, as defined in section 54C.
The annual credit allowed is 70% of the annual credit
Specific Instructions
amount determined by applying 54A(b).
Issuers of certain tax credit bonds (or their agents) and
Qualified energy conservation bond. An obligation
recipients of Form 1097-BTC from the bond issuer or
that is part of an issue, 100% of the available project
agent, such as mutual funds or partnerships, who are
proceeds of which are to be used for one or more qualified
further distributing the credit must file Form 1097-BTC for
energy conservation purposes, as defined in section 54D.
each tax credit distributed from the following tax credit
The annual credit allowed is 70% of the annual credit
bonds.
amount determined by applying 54A(b).
New clean renewable energy bonds.
Qualified zone academy bond. An obligation that is
Qualified energy conservation bonds.
part of an issue, 100% of the available project proceeds of
Qualified zone academy bonds.
which are to be used for a qualified purpose for a qualified
Qualified school construction bonds.
zone academy established by an eligible local education
Clean renewable energy bonds.
agency, as provided in section 54E; or an obligation that is
Build America bonds (Tax Credit).
part of an issue, 95% or more of the proceeds of which
Aug 31, 2017
Cat. No. 54657F
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