- 3.12.26 Tax Exempt Bond Error Resolution Procedures
- 3.12.26.1 Program Scope and Objectives
- 3.12.26.2 Service Level Agreements (SLAs)
- 3.12.26.2.1 National Service Level Agreements (SLAs)
- 3.12.26.2.1.1 Taxpayer Advocate Service
- 3.12.26.2.1.2 Taxpayer Advocate Service (TAS) SLA
- 3.12.26.2.1 National Service Level Agreements (SLAs)
- 3.12.26.3 Background
- 3.12.26.3.1 General Requirements
- 3.12.26.3.2 BMF Consistency
- 3.12.26.3.3 TEB Background
- 3.12.26.3.3.1 Purpose of Form
- 3.12.26.3.3.2 Description of Bonds
- 3.12.26.3.3.3 Definitions
- 3.12.26.4 Types of Errors
- 3.12.26.4.1 Action Code Error - Priority I
- 3.12.26.4.2 Section Errors - Priority II
- 3.12.26.4.2.1 ISRP (Integrated Submission & Remittance Processing) Errors
- 3.12.26.4.2.1.1 ISRP Error Correction Procedures
- 3.12.26.4.2.2 Terminus Error
- 3.12.26.4.2.2.1 Terminus Error Correction Procedures
- 3.12.26.4.2.1 ISRP (Integrated Submission & Remittance Processing) Errors
- 3.12.26.4.3 Field Errors Priority III
- 3.12.26.4.3.1 Priority III Error Display Order
- 3.12.26.4.4 Action Code 001
- 3.12.26.4.5 Clear Fields "C" and "000"
- 3.12.26.4.6 Reject Correction
- 3.12.26.4.7 Re-entry Document
- 3.12.26.4.7.1 Control of Re-entry Document
- 3.12.26.4.8 Form 8038-CP Sequestration Manual Refund Procedures
- 3.12.26.4.9 Form 8038-CP Statute of Limitation Procedures
- 3.12.26.5 General Correction Procedures for Form 8038, Form 8038-B, Form 8038-G, Form 8038-GC, Form 8038-T, Form 8038-TC, Form 8328 and Form 8703
- 3.12.26.5.1 Section 01 - Form 8038, Form 8038-B, Form 8038-G, Form 8038-GC, Form 8038-T, Form 8038-TC, Form 8328, and Form 8703
- 3.12.26.5.2 Field RMIT> - Remittance Amount
- 3.12.26.5.3 Field 01NC - Name Control
- 3.12.26.5.3.1 Field 01NC - Invalid Conditions
- 3.12.26.5.3.2 Field 01NC - Correction Procedures
- 3.12.26.5.3.3 Name Control - under print
- 3.12.26.5.3.3.1 Correction Procedures
- 3.12.26.5.4 Field 01EIN - Employer Identification Number
- 3.12.26.5.4.1 Field 01EIN - Invalid Conditions
- 3.12.26.5.4.2 Field 01EIN - Correction Procedures
- 3.12.26.5.5 Field 01TXP Tax Period
- 3.12.26.5.5.1 Field 01TXP - Invalid Conditions
- 3.12.26.5.5.2 Field 01TXP - Correction Procedures
- 3.12.26.5.6 Field 01RPT - Report Number
- 3.12.26.5.6.1 Field 01RPT - Invalid Conditions
- 3.12.26.5.6.2 Field 01RPT - Correction Procedures
- 3.12.26.5.7 Field 01CCC - Computer Condition Codes
- 3.12.26.5.7.1 Field 01CCC - Invalid Conditions
- 3.12.26.5.7.2 Field 01CCC - Correction Procedures
- 3.12.26.5.8 Reasonable Cause
- 3.12.26.5.9 Field 01RCD - Received Date
- 3.12.26.5.9.1 Field 01RCD - Invalid Conditions
- 3.12.26.5.9.2 Field 01RCD - Correction Procedures
- 3.12.26.5.10 Field 01CRD - Correspondence Received Date
- 3.12.26.5.10.1 Field 01CRD - Invalid Conditions
- 3.12.26.5.10.2 field 01CRD - Correction Procedures
- 3.12.26.5.11 Field 01NM1 - Issuers Name
- 3.12.26.5.11.1 Field 01NM1 - Invalid Conditions
- 3.12.26.5.11.2 Field 01NM1 - Correction Procedures
- 3.12.26.5.12 Field 01NM2 - Issuer's Second Name Line
- 3.12.26.5.12.1 Field 01NM2 - Invalid Conditions
- 3.12.26.5.12.2 Field 01NM2 - Correction Procedures
- 3.12.26.5.13 Field 01CON - In Care of Name Line
- 3.12.26.5.13.1 Field 01CON - Correction Procedures
- 3.12.26.5.14 Field 01FAD - Foreign Address
- 3.12.26.5.14.1 Field 01FAD - Invalid Conditions
- 3.12.26.5.14.2 Field 01FAD - Correction Procedures
- 3.12.26.5.15 Unprocessable Conditions
- 3.12.26.5.15.1 Correcting Unprocessable Returns
- 3.12.26.5.16 Field 01ADD - Street Address
- 3.12.26.5.16.1 Field 01ADD - Invalid Conditions
- 3.12.26.5.16.2 Field 01ADD - Correction Procedures
- 3.12.26.5.17 Field 01CTY - City
- 3.12.26.5.17.1 Field 01CTY - Invalid Conditions
- 3.12.26.5.17.2 Field 01CTY - Correction Procedures
- 3.12.26.5.18 Field 01ST - State
- 3.12.26.5.18.1 Field 01ST - Invalid Conditions
- 3.12.26.5.18.2 Field 01ST - Correction Procedures
- 3.12.26.5.19 Field 01ZIP - ZIP Code
- 3.12.26.5.19.1 Field 01ZIP - Invalid Conditions
- 3.12.26.5.19.2 Field 01ZIP - Correction Procedures
- 3.12.26.5.20 Field 01NM3 - Form 8703 - Owner of Project
- 3.12.26.5.20.1 Field 01NM3 - Invalid Conditions
- 3.12.26.5.20.2 Field 01NM3 - Correction Procedures
- 3.12.26.5.21 Field 01NM4 - Owner of Project Second Name Line
- 3.12.26.5.21.1 Field 01NM4 - Invalid Conditions
- 3.12.26.5.21.2 Field 01NM4 - Correction Procedures
- 3.12.26.5.22 Field 01AD2 - Owner of Project Street Address
- 3.12.26.5.22.1 Field 01AD2 - Invalid Conditions
- 3.12.26.5.22.2 Field 01AD2 - Correction Procedures
- 3.12.26.5.23 Field 01CT2 - Owner of Project City
- 3.12.26.5.23.1 Field 01CT2 - Invalid Conditions
- 3.12.26.5.23.2 Field 01CT2 - Correction
- 3.12.26.5.24 Field 01ST2 - Owner of Project State
- 3.12.26.5.24.1 Field 01ST2 - Invalid Conditions
- 3.12.26.5.24.2 Field 01ST2 - Corrections
- 3.12.26.5.25 Field 01ZP2 - Owner of Project Zip Code
- 3.12.26.5.25.1 Field 01ZP2 - Invalid Conditions
- 3.12.26.5.25.2 Field 01ZP2 - Correction Procedures
- 3.12.26.5.26 Field 01BLD - Address of Building/Project
- 3.12.26.5.26.1 Field 01BLD - Invalid Conditions
- 3.12.26.5.26.2 Field 01BLD - Correction Procedures
- 3.12.26.5.27 Field 01CT3 - City of Building/Project
- 3.12.26.5.27.1 Field 01CT3 - Invalid Conditions
- 3.12.26.5.27.2 Field 01CT3 - Correction Procedures
- 3.12.26.5.28 Field 01ST3 - State of Buliding/Project
- 3.12.26.5.28.1 Field 01ST3 - Invalid Conditions
- 3.12.26.5.28.2 Field 01ST3 - Correction Procedures
- 3.12.26.5.29 Field 01ZP3 - ZIP of Building/Project
- 3.12.26.5.29.1 Field 01ZP3 - Invalid Conditions
- 3.12.26.5.29.2 Field 01ZP3 - Correction Procedures
- 3.12.26.5.30 Field 01INM - Name of Issue
- 3.12.26.5.30.1 Field 01INM - Invalid Conditions
- 3.12.26.5.30.2 Field 01INM - Correction Procedures
- 3.12.26.5.31 Field 01DTI - Date of Issue
- 3.12.26.5.31.1 Field 01DTI - Invalid Conditions
- 3.12.26.5.31.2 Field 01DTI - Correction Procedures
- 3.12.26.5.32 Field 01CUS - CUSIP Number
- 3.12.26.5.32.1 Field 01CUS - Correction Procedures
- 3.12.26.5.33 Field 01CAF - CAF Indicator
- 3.12.26.5.34 Field 01SIG - Signature Block
- 3.12.26.5.34.1 Field 01SIG - Invalid Conditions
- 3.12.26.5.34.2 Field 01SIG - Correction Procedures
- 3.12.26.5.35 Field 01PRE - Preparation Code
- 3.12.26.5.35.1 Field 01PRE - Invalid Conditions
- 3.12.26.5.35.2 Field 01PRE - Correction Procedures
- 3.12.26.5.36 Field 01PSN - Preparer's SSN or PTIN
- 3.12.26.5.36.1 Field 01PSN - Invalid Conditions
- 3.12.26.5.36.2 Field 01PSN - Correction Procedures
- 3.12.26.5.37 Field 01PEN, Preparer’s EIN
- 3.12.26.5.37.1 Field 01PEN - Invalid Conditions
- 3.12.26.5.37.2 Field 01PEN - Correction Procedures
- 3.12.26.5.38 Field 01PTN - Preparer's Telephone Number
- 3.12.26.5.38.1 Field 01PTN - Invalid Condition
- 3.12.26.5.38.2 Field 01PTN - Correction Procedures
- 3.12.26.6 Section 02 - Form 8038
- 3.12.26.6.1 Fields 0211A - 0220Z Issue Price Amount
- 3.12.26.6.1.1 Fields 0211A - 0220Z Invalid Conditions
- 3.12.26.6.1.2 Fields 0211A - 0220Z Correction Procedures
- 3.12.26.6.2 Section 03 - Form 8038
- 3.12.26.6.2.1 Field 0321A - Maturity Date
- 3.12.26.6.2.2 Field 0321A - Invalid Conditions
- 3.12.26.6.2.3 Field 0321A - Correction Procedures
- 3.12.26.6.3 Field 0321B - Entire Issue Price
- 3.12.26.6.3.1 Field 0321B - Invalid Conditions
- 3.12.26.6.3.2 Field 0321B - Correction Procedures
- 3.12.26.6.4 Field 0321C - Stated Redemption Maturity Amount
- 3.12.26.6.4.1 Field 0321C - Correction Procedures
- 3.12.26.6.5 Field 0321D - Weighted Average Maturity Years
- 3.12.26.6.5.1 Field 0321D - Correction Procedures
- 3.12.26.6.6 Field 0321E - Yield Percentage
- 3.12.26.6.6.1 Field 0321E - Correction Procedures
- 3.12.26.6.7 Field 0322 - Proceeds for Accrued Interest Amount
- 3.12.26.6.7.1 Field 0322 - Correction Procedures
- 3.12.26.6.8 Field 0323 - Proceeds for Entire Issue Amount
- 3.12.26.6.8.1 Field 0323 - Correction Procedures
- 3.12.26.6.9 Field 0324 - Proceeds for Bond Issue Amount
- 3.12.26.6.9.1 Field 0324 - Correction Procedures
- 3.12.26.6.10 Field 0325 - Proceeds for Credit Enhancement Amount
- 3.12.26.6.10.1 Field 0325 - Correction Procedures
- 3.12.26.6.11 Field 0326 - Proceeds to Reserve or Replacement Fund Amount
- 3.12.26.6.11.1 Field 0326 - Correction Procedures
- 3.12.26.6.12 Field 0327 - Proceeds Used to Currently Refund Prior Issue(s)
- 3.12.26.6.12.1 Field 0327 - Correction Procedures
- 3.12.26.6.13 Field 0328 - Proceeds Used for Advance Refund Amount
- 3.12.26.6.13.1 Field 0328 - Correction Procedures
- 3.12.26.6.14 Field 0329 - Total Proceeds Amount
- 3.12.26.6.14.1 Field 0329 - Correction Procedures
- 3.12.26.6.15 Field 0330 - Net Non Refunding Proceeds Amount
- 3.12.26.6.15.1 Field 0330 - Correction Procedures
- 3.12.26.6.16 Field 0331A - Non Refunding Land Proceeds Amount
- 3.12.26.6.16.1 Field 0331A - Correction Procedures
- 3.12.26.6.17 Field 0331B - Non Refunding Buildings and Structures Proceeds Amount
- 3.12.26.6.17.1 Field 0331B - Correction Procedures
- 3.12.26.6.18 Field 0331C - Non Refunding Equipment Greater than 5 Years Recovery Amount
- 3.12.26.6.18.1 Field 0331C - Correction Procedures
- 3.12.26.6.19 Field 0331D - Non Refunding Equipment Less than 5 Years Recovery Amount
- 3.12.26.6.19.1 Field 0331D - Correction Procedures
- 3.12.26.6.20 Field 0331E - Non Refunding for Other Property Proceeds Amount
- 3.12.26.6.20.1 Field 0331E - Correction Procedures
- 3.12.26.6.21 Field 0332A - First NAICS Code
- 3.12.26.6.21.1 Field 0332A - Invalid Conditions
- 3.12.26.6.21.2 Field 0332A - Correction Procedures
- 3.12.26.6.22 Field 0332B - First NAICS Amount
- 3.12.26.6.22.1 Field 0332B - Invalid Conditions
- 3.12.26.6.22.2 Field 0332B - Correction Procedures
- 3.12.26.6.23 Field 0332C - Second NAICS Code
- 3.12.26.6.23.1 Field 0332C - Invalid Conditions
- 3.12.26.6.23.2 Field 0332C - Correction Procedures
- 3.12.26.6.24 Field 0332D - Second NAICS Amount
- 3.12.26.6.24.1 Field 0332D - Invalid Conditions
- 3.12.26.6.24.2 Field 0332D - Correction Procedures
- 3.12.26.6.25 Field 0332E - Third NAICS Code
- 3.12.26.6.25.1 Field 0332E - Invalid Conditions
- 3.12.26.6.25.2 Field 0332E - Correction Procedures
- 3.12.26.6.26 Field 0332F - Third NAICS Amount
- 3.12.26.6.26.1 Field 0332E - Invalid Conditions
- 3.12.26.6.26.2 Field 0332F - Correction Procedures
- 3.12.26.6.27 Field 0332G - Fourth NAICS Code
- 3.12.26.6.27.1 Field 0332G - Invalid Conditions
- 3.12.26.6.27.2 Field 0332G - Correction Procedures
- 3.12.26.6.28 Field 0332H - Fourth NAICS Amount
- 3.12.26.6.28.1 Field 0332H - Invalid Conditions
- 3.12.26.6.28.2 Field 0332H - Correction Procedures
- 3.12.26.6.29 Field 0333 - Weighted Average Maturity Currently Refunded Years
- 3.12.26.6.29.1 Field 0333 - Correction Procedures
- 3.12.26.6.30 Field 0334 - Weighted Average Maturity Advance Refunded Years
- 3.12.26.6.30.1 Field 0334 - Correction Procedures
- 3.12.26.6.31 Field 0335 - Refunded Bond Call Date
- 3.12.26.6.31.1 Field 0335 - Correction Procedures
- 3.12.26.6.32 Field 0336 - Refunded Bond Issue Date
- 3.12.26.6.32.1 Field 0336 - Correction Procedures
- 3.12.26.6.1 Fields 0211A - 0220Z Issue Price Amount
- 3.12.26.7 Section 04 - Form 8038
- 3.12.26.7.1 Field 0437 - Government Unit Approving Name
- 3.12.26.7.1.1 Field 0437 - Invalid Conditions
- 3.12.26.7.1.2 Field 0437 - Correction Procedures
- 3.12.26.7.2 Field 0438 - Designated Issue Under Section 265, Box
- 3.12.26.7.2.1 Field 0438 - Correction Procedures
- 3.12.26.7.3 Field 0439 - Penalty Payment Election Indicator
- 3.12.26.7.3.1 Field 0439 - Correction Procedures
- 3.12.26.7.4 Field 0440A - Hedge Identifier Box
- 3.12.26.7.4.1 Field 0440A - Correction Procedures
- 3.12.26.7.5 Field 0441 - Hedge Super-Integrated Indicator Box
- 3.12.26.7.5.1 Field 0441 - Correction Procedures
- 3.12.26.7.6 Field 0442A - Gross Proceeds Invested (GIC) Amount
- 3.12.26.7.6.1 Field 0442A - Correction Procedures
- 3.12.26.7.7 Field 0442B - Final Maturity Date of GIC
- 3.12.26.7.7.1 Field 0442B - Invalid Conditions
- 3.12.26.7.7.2 Field 0442B - Correction Procedures
- 3.12.26.7.8 Field 0443 - Issuer Established Procedures Non-qualified Box
- 3.12.26.7.8.1 Field 0443 - Correction Procedures
- 3.12.26.7.9 Field 0444 - Issuer Established Procedures to Monitor Section 148 Box
- 3.12.26.7.9.1 Field 0444 - Correction Procedures
- 3.12.26.7.10 Field 0445A - Portion of Proceeds to Reimburse Issuer
- 3.12.26.7.10.1 Field 0445A - Correction Procedures
- 3.12.26.7.11 Field 0445B - Date Official Intent was Adopted
- 3.12.26.7.11.1 Field 0445B - Invalid Conditions
- 3.12.26.7.11.2 Field 0445B - Correction Procedures
- 3.12.26.7.12 Field 0446 - Bond Issue Redevelopment Exempt Check Box
- 3.12.26.7.12.1 Field 0446 - Correction Procedures
- 3.12.26.7.13 Field 0446N - Primary Private User Name
- 3.12.26.7.13.1 Field 0446N - Invalid Conditions
- 3.12.26.7.13.2 Field 0446N - Correction Procedures
- 3.12.26.7.14 Field 0446E - Primary Private User EIN
- 3.12.26.7.14.1 Field 0446E - Correction Procedures
- 3.12.26.7.15 Field 0447 - Volume Cap State Issuer Amount
- 3.12.26.7.15.1 Field 0447 - Correction Procedures
- 3.12.26.7.16 Field 0448 - Volume Cap Unified State Amount
- 3.12.26.7.16.1 Field 0448 - Correction Procedures
- 3.12.26.7.17 Field 0449 - Volume Cap Not Limited Unified State Amount
- 3.12.26.7.17.1 Field 0449 - Correction Procedures
- 3.12.26.7.18 Field 0449A - Volume Cap WFADW-HRBC Amount
- 3.12.26.7.18.1 Field 0449A - Correction Procedures
- 3.12.26.7.19 Field 0449B - Volume Cap Carryforward Elect Amount
- 3.12.26.7.19.1 Field 0449B - Correction Procedures
- 3.12.26.7.20 Field 0449C - Volume Cap Transitional Rule Amount
- 3.12.26.7.20.1 Field 0449C - Correction Procedures
- 3.12.26.7.21 Field 0449D - Volume Cap Exception Current Refunding Amount
- 3.12.26.7.21.1 Field 0449D - Correction Procedures
- 3.12.26.7.22 Field 0450A - Volume Cap Qualified Veterans Mortgage Bond Amount
- 3.12.26.7.22.1 Field 0450A - Correction Procedures
- 3.12.26.7.23 Field 0450B - Volume Cap Limit on Veterans' Mortgage Bond Amount
- 3.12.26.7.23.1 Field 0450B - Correction Procedures
- 3.12.26.7.24 Field 0451A - Volume Cap Issue Section 1394F Amount
- 3.12.26.7.24.1 Field 0451A - Correction Procedures
- 3.12.26.7.25 Field 0451B - Empowerment Zone Name
- 3.12.26.7.25.1 Field 0451B - Invalid Conditions
- 3.12.26.7.25.2 Field 0451B - Correction Procedures
- 3.12.26.7.26 Field 0452 - Volume Cap Issue Section 142K5 Amount
- 3.12.26.7.26.1 Field 0452 - Correction Procedures
- 3.12.26.7.27 Field 04SIG - Signature Code
- 3.12.26.7.27.1 Field 04SIG - Invalid Conditions
- 3.12.26.7.27.2 Field 04SIG - Correction Procedures
- 3.12.26.7.28 Field 04PRE - Preparation Code
- 3.12.26.7.28.1 Field 04PRE - Invalid Conditions
- 3.12.26.7.28.2 Field 04PRE - Correction Procedures
- 3.12.26.7.29 Field 04PSN - Preparer's PTIN
- 3.12.26.7.29.1 Field 04PSN - Invalid Conditions
- 3.12.26.7.29.2 Field 04PSN - Correction Procedures
- 3.12.26.7.30 Field 04PEN, Preparer's EIN
- 3.12.26.7.30.1 Field 04PEN - Invalid Conditions
- 3.12.26.7.30.2 Field 04PEN - Correction Procedures
- 3.12.26.7.31 Field 04PTN - Preparer's Telephone Number
- 3.12.26.7.31.1 Field 04PTN - Invalid Conditions
- 3.12.26.7.31.2 Field 04PTN - Correction Procedures
- 3.12.26.7.1 Field 0437 - Government Unit Approving Name
- 3.12.26.8 Section 05 - Form 8038-G
- 3.12.26.8.1 Field 0511 through 0518Z - Issue Price Amount
- 3.12.26.8.1.1 Field 0511 through 0518Z - Correction Procedures
- 3.12.26.8.2 Field 0519 - Obligation Check Box
- 3.12.26.8.2.1 Field 0519 - Correction Procedures
- 3.12.26.8.3 Field 0520 - Obligation Lease Installment Box
- 3.12.26.8.3.1 Field 0520 - Correction Procedures
- 3.12.26.8.4 Field 0521A - Maturity Date
- 3.12.26.8.4.1 Field 0521A - Correction Procedures
- 3.12.26.8.5 Field 0521B - Entire Issue Price
- 3.12.26.8.5.1 Field 0521B - Invalid Conditions
- 3.12.26.8.5.2 Field 0521B - Correction Procedures
- 3.12.26.8.6 Field 0521C - Stated Redemption Maturity Amount
- 3.12.26.8.6.1 Field 0521C - Correction Procedures
- 3.12.26.8.7 Field 0521D - Weighted Average Maturity Years
- 3.12.26.8.7.1 Field 0521D - Correction Procedures
- 3.12.26.8.8 Field 0521E - Yield Percentage
- 3.12.26.8.8.1 Field 0521E - Correction Procedures
- 3.12.26.8.9 Field 0522 - Proceeds Accrued Interest Amount
- 3.12.26.8.9.1 Field 0522 - Correction Procedures
- 3.12.26.8.10 Field 0523 - Proceeds of Entire Issue Amount
- 3.12.26.8.10.1 Field 0523 - Correction Procedures
- 3.12.26.8.11 Field 0524 - Proceeds Bond Issue Amount
- 3.12.26.8.11.1 Field 0524 - Correction Procedures
- 3.12.26.8.12 Field 0525 - Proceeds Credit enhancement Amount
- 3.12.26.8.12.1 Field 0525 - Correction Procedures
- 3.12.26.8.13 Field 0526 - Proceeds Reserve Replacement Amount
- 3.12.26.8.13.1 Field 0526 - Correction Procedures
- 3.12.26.8.14 Field 0527 - Proceeds Used to Currently Refund Prior Issues
- 3.12.26.8.14.1 Field 0527 - Correction Procedures
- 3.12.26.8.15 Field 0528 - Proceeds for Advance Refund Amount
- 3.12.26.8.15.1 Field 0528 - Correction Procedures
- 3.12.26.8.16 Field 0529 - Total Proceeds Amount
- 3.12.26.8.16.1 Field 0529 - Correction Procedures
- 3.12.26.8.17 Field 0530 - Net Non Refunding Proceeds Amount
- 3.12.26.8.17.1 Field 0530 - Correction Procedures
- 3.12.26.8.1 Field 0511 through 0518Z - Issue Price Amount
- 3.12.26.9 Section 06 - Form 8038-G
- 3.12.26.9.1 Field 0631 - Weighted Average Currently Refunded Years
- 3.12.26.9.1.1 Field 0631 - Correction Procedures
- 3.12.26.9.2 Field 0632 - Weighted Average Advance Refunded Years
- 3.12.26.9.2.1 Field 0632 - Correction Procedures
- 3.12.26.9.3 Field 0633 - Refunded Bonds Call Date
- 3.12.26.9.3.1 Field 0633 - Correction Procedures
- 3.12.26.9.4 Field 0634 - Refunded Bonds Issue Date
- 3.12.26.9.4.1 Field 0634 - Correction Procedures
- 3.12.26.9.5 Field 0635 - State Volume Cap Issue Amount
- 3.12.26.9.5.1 Field 0635 - Correction Procedures
- 3.12.26.9.6 Field 0636A - Gross Proceeds Guaranteed Investment Contract (GIC) Amount
- 3.12.26.9.6.1 Field 0636A - Correction Procedures
- 3.12.26.9.7 Field 0636B - GIC Maturity Date
- 3.12.26.9.7.1 Field 0636B - Correction Procedures
- 3.12.26.9.8 Field 0637A - Proceeds Other Government Loan Amount
- 3.12.26.9.8.1 Field 0637A - Correction Procedures
- 3.12.26.9.9 Field 0638A - Tax Exempt Issue Check Box
- 3.12.26.9.9.1 Field 0638A - Correction Procedures
- 3.12.26.9.10 Field 0638B - Date of Master Pool Obligation
- 3.12.26.9.10.1 Field 0638B - Correction Procedures
- 3.12.26.9.11 Field 0638C - EIN of Master Pool Obligation
- 3.12.26.9.11.1 Field 0638C - Correction Procedures
- 3.12.26.9.12 Field 0639 - Designated Issue Section 265 Check Box
- 3.12.26.9.12.1 Field 0639 - Correction Procedures
- 3.12.26.9.13 Field 0640 - Penalty Payment Election Indicator Check Box
- 3.12.26.9.13.1 Field 0640 - Correction Procedures
- 3.12.26.9.14 Field 0641 - Hedge Identifier Check Box
- 3.12.26.9.14.1 Field 0641 - Correction Procedures
- 3.12.26.9.15 Field 0642 - Hedge Super-Integrated Indicator Check Box
- 3.12.26.9.15.1 Field 0642 - Correction Procedures
- 3.12.26.9.16 Field 0643 - Issuer Established Procedures Nonqualified Check Box
- 3.12.26.9.16.1 Field 0643 - Correction Procedures
- 3.12.26.9.17 Field 0644 - Issuer Established Procedure to Monitor Section 148 Check Box
- 3.12.26.9.17.1 Field 0644 - Correction Procedures
- 3.12.26.9.18 Field 0645A - Portion of Proceeds used to Reimburse Expenditures
- 3.12.26.9.18.1 Field 0645A - Correction Procedures
- 3.12.26.9.19 Field 0645B - Date Official Intent was Adopted
- 3.12.26.9.19.1 Field 0645B - Correction Procedures
- 3.12.26.9.20 Field 06SIG - Signature Code
- 3.12.26.9.20.1 Field 06SIG - Invalid Conditions
- 3.12.26.9.20.2 Field 06SIG - Correction Procedures
- 3.12.26.9.21 Field 06PRE - Preparation Code
- 3.12.26.9.21.1 Field 06PRE - Invalid Conditions
- 3.12.26.9.21.2 Field 06PRE - Correction Procedures
- 3.12.26.9.22 Field 06PSN - Preparer's PTIN
- 3.12.26.9.22.1 Field 06PSN - Invalid Conditions
- 3.12.26.9.22.2 Field 06PSN - Correction Procedures
- 3.12.26.9.23 Field 06PEN, Preparer's EIN
- 3.12.26.9.23.1 Field 06PEN - Invalid Conditions
- 3.12.26.9.23.2 Field 06PEN - Correction Procedures
- 3.12.26.9.24 Field 06PTN - Preparer's Telephone Number
- 3.12.26.9.24.1 Field 06PTN - Invalid Conditions
- 3.12.26.9.24.2 Field 06PTN - Correction Procedures
- 3.12.26.9.1 Field 0631 - Weighted Average Currently Refunded Years
- 3.12.26.10 Section 07 - Form 8038-GC
- 3.12.26.10.1 Field 07BX - Single or Consolidated Check Box
- 3.12.26.10.1.1 Field 07BX - Invalid Conditions
- 3.12.26.10.1.2 Field 07BX - Correction Procedures
- 3.12.26.10.2 Field 078A - Entire Issue Price
- 3.12.26.10.2.1 Field 078A - Invalid Conditions
- 3.12.26.10.2.2 Field 078A - Correction Procedures
- 3.12.26.10.3 Field 079A -For Leases for Vehicles Amount
- 3.12.26.10.3.1 Field 079A -Correction Procedures
- 3.12.26.10.4 Field 079B -For Leases for Office Equipment Amount
- 3.12.26.10.4.1 Field 079B -Correction Procedures
- 3.12.26.10.5 Field 079C -For Leases for Real Property Amount
- 3.12.26.10.5.1 Field 079C -Correction Procedures
- 3.12.26.10.6 Field 079D -For Other Leases Amount
- 3.12.26.10.6.1 Field 079D -Correction Procedures
- 3.12.26.10.7 Field 079E -For Bank Loans for Vehicles Amount
- 3.12.26.10.7.1 Field 079E -Correction Procedures
- 3.12.26.10.8 Field 079F -For Bank Loans for Office Equipment Amount
- 3.12.26.10.8.1 Field 079F -Correction Procedures
- 3.12.26.10.9 Field 079G -For Bank Loans for Real Property Amount
- 3.12.26.10.9.1 Field 079G -Correction Procedures
- 3.12.26.10.10 Field 079H -For Bank Loans for Other Amount
- 3.12.26.10.10.1 Field 079H -Correction Procedures
- 3.12.26.10.11 Field 079J -Proceeds from Another Tax Exempt Amount
- 3.12.26.10.11.1 Field 079J -Correction Procedures
- 3.12.26.10.12 Field 079K -Other Amount
- 3.12.26.10.12.1 Field 0710 -Designated Issue Section 265 Check Box
- 3.12.26.10.12.2 Field 0710 -Correction Procedures
- 3.12.26.10.13 Field 0711 -Penalty Payment Election Indicator Check Box
- 3.12.26.10.13.1 Field 0711 -Correction Procedures
- 3.12.26.10.14 Field 0713 - Vendor's or Bank's EIN
- 3.12.26.10.14.1 Field 0713 - Correction Procedures
- 3.12.26.10.15 Field 07SIG - Signature Code
- 3.12.26.10.15.1 Field 07SIG - Invalid Conditions
- 3.12.26.10.15.2 Field 07SIG - Correction Procedures
- 3.12.26.10.16 Field 07PRE - Preparation Code
- 3.12.26.10.16.1 Field 07PRE - Invalid Conditions
- 3.12.26.10.16.2 Field 07PRE - Correction Procedures
- 3.12.26.10.17 Field 07PSN - Preparer's PTIN
- 3.12.26.10.17.1 Field 07PSN - Invalid Conditions
- 3.12.26.10.17.2 Field 07PSN - Correction Procedures
- 3.12.26.10.18 Field 07PEN, Preparer's EIN
- 3.12.26.10.18.1 Field 07PEN - Invalid Conditions
- 3.12.26.10.18.2 Field 07PEN - Correction Procedures
- 3.12.26.10.19 Field 07PTN - Preparer's Telephone Number
- 3.12.26.10.19.1 Field 07PTN - Invalid Conditions
- 3.12.26.10.19.2 Field 07PTN - Correction Procedures
- 3.12.26.10.1 Field 07BX - Single or Consolidated Check Box
- 3.12.26.11 Section 08 - 8328
- 3.12.26.11.1 Field 0801 - Total Volume Cap
- 3.12.26.11.1.1 Field 0801 - Invalid Conditions
- 3.12.26.11.1.2 Field 0801 - Correction Procedures
- 3.12.26.11.2 Field 0802 - Aggregate Section 146 Amount
- 3.12.26.11.2.1 Field 0802 - Correction Procedures
- 3.12.26.11.3 Field 0803 - Total Volume Cap Exchanged Mortgage Credit Certificate Amount
- 3.12.26.11.3.1 Field 0803 - Correction Procedures
- 3.12.26.11.4 Field 0804 - Total Volume Cap Allocated Bonds Amount
- 3.12.26.11.4.1 Field 0804 - Correction Procedures
- 3.12.26.11.5 Field 0805 - Total Volume Cap Amount
- 3.12.26.11.5.1 Field 0805 - Correction Procedures
- 3.12.26.11.6 Field 0806 - Total Unused Volume Cap Amount
- 3.12.26.11.6.1 Field 0806 - Correction Procedures
- 3.12.26.11.7 Field 0807 - Qualified Student Loan Bonds
- 3.12.26.11.7.1 Field 0807 - Correction Procedures
- 3.12.26.11.8 Field 0808 - Qualified mortgage bonds or mortgage credit certificates
- 3.12.26.11.8.1 Field 0808 - Correction Procedures
- 3.12.26.11.9 Field 0809 - Qualified redevelopment bonds
- 3.12.26.11.9.1 Field 0809 - Correction Procedures
- 3.12.26.11.10 Field 0810a - Mass commuting facilities
- 3.12.26.11.10.1 Field 0810a - Correction Procedures
- 3.12.26.11.11 Field 0810b - Water furnishing facilities
- 3.12.26.11.11.1 Field 0810b - Correction Procedures
- 3.12.26.11.12 Field 0810c - Sewage facilities
- 3.12.26.11.12.1 Field 0810c - Correction Procedures
- 3.12.26.11.13 Field 0810d - Solid waste disposal facilities
- 3.12.26.11.13.1 Field 0810d - Correction Procedures
- 3.12.26.11.14 Field 0810e - Qualified residential rental projects
- 3.12.26.11.14.1 Field 0810e - Correction Procedures
- 3.12.26.11.15 Field 0810f - Facilities for the local furnishing of electric energy or gas
- 3.12.26.11.15.1 Field 0810f - Correction Procedures
- 3.12.26.11.16 Field 0810g - Local district heating or cooling facilities
- 3.12.26.11.16.1 Field 0810g - Correction Procedures
- 3.12.26.11.17 Field 0810h - Qualified hazardous waste facilities
- 3.12.26.11.17.1 Field 0810h - Correction Procedures
- 3.12.26.11.18 Field 0810i - High-speed intercity rail facilities
- 3.12.26.11.18.1 Field 0810i - Correction Procedures
- 3.12.26.11.19 Field 0810j - Qualified enterprise zone facility bonds
- 3.12.26.11.19.1 Field 0810j - Correction Procedures
- 3.12.26.11.20 Field 0810k - Qualified broadband projects
- 3.12.26.11.20.1 Field 0810k - Correction Procedures
- 3.12.26.11.21 Field 0810l - Qualified carbon dioxide capture facilities
- 3.12.26.11.21.1 Field 0810l - Correction Procedures
- 3.12.26.11.22 Field 0811 - Total Carryforward Amount
- 3.12.26.11.22.1 Field 0811 - Invalid Condition
- 3.12.26.11.22.2 Field 0811 - Correction Procedures
- 3.12.26.11.23 Field 0812 -Total Volume Cap Calendar Year Amount
- 3.12.26.11.23.1 Field 0812 - Correction Procedures
- 3.12.26.11.24 Field 0813 - Total Section 142 Calendar Year Amount
- 3.12.26.11.24.1 Field 0813 - Correction Procedures
- 3.12.26.11.25 Field 0814 - Unused Volume Cap Carryforward Amount
- 3.12.26.11.25.1 Field 0814 - Correction Procedures
- 3.12.26.11.26 Field 0815 - Elected Carryforward Amount
- 3.12.26.11.26.1 Field 0815 - Invalid Conditions
- 3.12.26.11.26.2 Field 0815 - Correction Procedures
- 3.12.26.11.27 Field 08SIG - Signature Code
- 3.12.26.11.27.1 Field 08SIG - Invalid Conditions
- 3.12.26.11.27.2 Field 08SIG - Correction Procedures
- 3.12.26.11.1 Field 0801 - Total Volume Cap
- 3.12.26.12 Section 02 - 8038-TC
- 3.12.26.12.1 Field 02TYP - Tax Credit Bond Code
- 3.12.26.12.1.1 Field 02TYP - Invalid Conditions
- 3.12.26.12.1.2 Field 02TYP - Correction Procedures
- 3.12.26.12.2 Field 02CHBX - Irrevocable Election Check Box
- 3.12.26.12.2.1 Field 02CHBX - Correction Procedures
- 3.12.26.12.3 Field 02IDT - First Interest Payment Date
- 3.12.26.12.3.1 Field 02IDT - Correction Procedures
- 3.12.26.12.4 Field 02IFPD - Interest Payment Date Frequency Code Check Box
- 3.12.26.12.4.1 Field 02IFPD - Correction Procedures
- 3.12.26.12.5 Field 0231 - Issue Price
- 3.12.26.12.5.1 Field 0231 - Invalid Conditions
- 3.12.26.12.5.2 Field 0231 - Correction Procedures
- 3.12.26.12.6 Field 0232 - Stated Redemption Price at Maturity Amount
- 3.12.26.12.6.1 Field 0232 - Correction Procedures
- 3.12.26.12.7 Field 0233 - Final Maturity Date
- 3.12.26.12.7.1 Field 0233 - Correction Procedures
- 3.12.26.12.8 Field 0234 - Applicable Credit Rate
- 3.12.26.12.8.1 Field 0234 - Correction Procedures
- 3.12.26.12.9 Field 0235 - Maximum Term (Years)
- 3.12.26.12.9.1 Field 0235 - Correction Procedures
- 3.12.26.12.10 Field 0236 - Permitted Sinking Fund Yield
- 3.12.26.12.10.1 Field 0236 - Correction Procedures
- 3.12.26.12.11 Field 0237 - Interest Rate on Bonds
- 3.12.26.12.11.1 Field 0237 - Correction Procedures
- 3.12.26.12.12 Field 0238A - Variable Rate Check Box
- 3.12.26.12.12.1 Field 0238A - Correction Procedures
- 3.12.26.12.13 Field 0241 - Sales Proceeds Amount
- 3.12.26.12.13.1 Field 0241 - Invalid Conditions
- 3.12.26.12.13.2 Field 0241 - Correction Procedures
- 3.12.26.12.14 Field 0242 - Proceeds Used for Bond Issuance Cost Amount
- 3.12.26.12.14.1 Field 0242 - Correction Procedures
- 3.12.26.12.15 Field 0243 - Estimated Investment Proceeds
- 3.12.26.12.15.1 Field 0243 - Correction Procedures
- 3.12.26.12.16 Field 0244 - Expected Available Project Proceeds
- 3.12.26.12.16.1 Field 0244 - Correction Procedures
- 3.12.26.12.17 Field 0245 - Matching Pledged Funds
- 3.12.26.12.17.1 Field 0245 - Correction Procedures
- 3.12.26.12.18 Field 0246 - Other Amount
- 3.12.26.12.18.1 Field 0246 - Correction Procedures
- 3.12.26.12.19 Field 0247 - Total Proceeds
- 3.12.26.12.19.1 Field 0247 - Correction Procedures
- 3.12.26.12.20 Field 025A - Amount of Loans to Qualified Borrowers
- 3.12.26.12.20.1 Field 025A - Correction Procedures
- 3.12.26.12.21 Field 025B - Written Loan Commitment Check Box
- 3.12.26.12.21.1 Field 025B - Correction Procedures
- 3.12.26.12.22 Field 025D - EIN of Borrower
- 3.12.26.12.22.1 Field 025D - Correction Procedures
- 3.12.26.12.23 Field 0252 - Land Amount
- 3.12.26.12.23.1 Field 0252 - Correction Procedures
- 3.12.26.12.24 Field 0253 - Buildings and Structures Amount
- 3.12.26.12.24.1 Field 0253 - Correction Procedures
- 3.12.26.12.25 Field 0254 - Equipment with Recovery Period > than 5 Years
- 3.12.26.12.25.1 Field 0254 - Correction Procedures
- 3.12.26.12.26 Field 0255 - Equipment with Recovery Period< than 5 Years
- 3.12.26.12.26.1 Field 0255 - Correction Procedures
- 3.12.26.12.27 Field 0256 - Grants Amount
- 3.12.26.12.27.1 Field 0256 - Correction Procedures
- 3.12.26.12.28 Field 0257 - Demonstration Projects Amount
- 3.12.26.12.28.1 Field 0257 - Correction Procedures
- 3.12.26.12.29 Field 0258 - Public Education Campaigns Amount
- 3.12.26.12.29.1 Field 0258 - Correction Procedures
- 3.12.26.12.30 Field 0259 - Repairs or Other Rehabilitation Expenditures Amount
- 3.12.26.12.30.1 Field 0259 - Correction Procedures
- 3.12.26.12.31 Field 02510 - Developing Course Materials and/or Staff Training Expenditures Amount
- 3.12.26.12.31.1 Field 02510 - Correction Procedures
- 3.12.26.12.32 Field 02511 - Pay Principle, Interest or Premiums on Qualified Bonds Amounts
- 3.12.26.12.32.1 Field 02511 - Correction Procedures
- 3.12.26.12.33 Field 02512 - Refinance a Qualified Indebtedness Amount
- 3.12.26.12.33.1 Field 02512 - Correction Procedures
- 3.12.26.12.34 Field 02513 - Other Amount
- 3.12.26.12.34.1 Field 02513 - Correction Procedures
- 3.12.26.12.35 Field 02514 - Total Qualified Purpose Expenditures
- 3.12.26.12.35.1 Field 02514 - Invalid Condition
- 3.12.26.12.35.2 Field 02514 - Correction Procedures
- 3.12.26.12.36 Field 02515 - Percentage of Available Project Proceeds
- 3.12.26.12.36.1 Field 02515 - Correction Procedures
- 3.12.26.12.37 Field 02516 - Portion of Proceeds to Reimburse Issuer Amount
- 3.12.26.12.37.1 Field 02516 - Correction Procedures
- 3.12.26.12.38 Field 02517 - Date Official Intent was Adopted
- 3.12.26.12.38.1 Field 02517 - Correction Procedures
- 3.12.26.12.1 Field 02TYP - Tax Credit Bond Code
- 3.12.26.13 Section 03 - Form 8038-TC
- 3.12.26.13.1 Field 0361A - Allocation Amount
- 3.12.26.13.1.1 Field 0361A - Correction Procedures
- 3.12.26.13.2 Field 036BX - Allocation of National or State Bond Check Box
- 3.12.26.13.2.1 Field 036BX - Correction Procedures
- 3.12.26.13.3 Field 0362 - State Name
- 3.12.26.13.3.1 Field 0362 - Correction Procedures
- 3.12.26.13.4 Field 0371A - Reserve or Sinking Fund Repay at Maturity Check Box
- 3.12.26.13.4.1 Field 0371A - Correction Procedures
- 3.12.26.13.5 Field 0371B - Reserve Fund in Equal Periodic Installments Check Box
- 3.12.26.13.5.1 Field 0371B - Correction Procedures
- 3.12.26.13.6 Field 0371C - Reserve Fund Expected to Result Greater than Repay Check Box
- 3.12.26.13.6.1 Field 0371C - Correction Procedures
- 3.12.26.13.7 Field 0371D - Procedures to Monitor the Requirements of Section 148 Check Box
- 3.12.26.13.7.1 Field 0371D - Correction Procedures
- 3.12.26.13.8 Field 0372 - Governing Conflicts of Interest Satisfied Check Box
- 3.12.26.13.8.1 Field 0372 - Correction Procedures
- 3.12.26.13.9 Field 0373 - Entitlements to Credit Check Box
- 3.12.26.13.9.1 Field 0373 - Correction Procedures
- 3.12.26.13.10 Field 0374 - Non Qualified Bonds Redeemed Within 90 Days Check Box
- 3.12.26.13.10.1 Field 0374 - Correction Procedures
- 3.12.26.13.11 Field 0375 - Other Check Box
- 3.12.26.13.11.1 Field 0375 - Correction Procedures
- 3.12.26.13.12 Field 03SIG - Signature Code
- 3.12.26.13.12.1 Field 03SIG - Invalid Conditions
- 3.12.26.13.12.2 Field 03SIG - Correction Procedures
- 3.12.26.13.13 Field 03PRE - Preparation Code
- 3.12.26.13.13.1 Field 03PRE - Invalid Conditions
- 3.12.26.13.13.2 Field 03PRE - Correction Procedures
- 3.12.26.13.14 Field 03PSN - Preparer's SSN or PTIN
- 3.12.26.13.14.1 Field 03PSN - Invalid Conditions
- 3.12.26.13.14.2 Field 03PSN - Correction Procedures
- 3.12.26.13.15 Field 03PEN, Preparer's EIN
- 3.12.26.13.15.1 Field 03PEN - Invalid Conditions
- 3.12.26.13.15.2 Field 03PEN - Correction Procedures
- 3.12.26.13.16 Field 03PTN - Preparer's Telephone Number
- 3.12.26.13.16.1 Field 03PTN - Invalid Conditions
- 3.12.26.13.16.2 Field 03PTN - Correction Procedures
- 3.12.26.13.17 Field 03CON - Consent Election Check Box
- 3.12.26.13.17.1 Field 03CON - Correction Procedures
- 3.12.26.13.1 Field 0361A - Allocation Amount
- 3.12.26.14 Section 04 - Form 8038-TC
- 3.12.26.14.1 Field 04TCB - Tax Credit Bond Code
- 3.12.26.14.1.1 Field 04TCB - Invalid Conditions
- 3.12.26.14.1.2 Field 04TCB - Correction Procedures
- 3.12.26.14.2 Field 041X - Line 1 Check Box
- 3.12.26.14.2.1 Field 041X - Correction Procedures
- 3.12.26.14.3 Field 042X - Line 2 Check Box
- 3.12.26.14.3.1 Field 042X - Correction Procedures
- 3.12.26.14.4 Field 043X - Line 3 Check Box
- 3.12.26.14.4.1 Field 043X - Correction Procedures
- 3.12.26.14.5 Field 044X - Line 4 Check Box
- 3.12.26.14.5.1 Field 044X - Correction Procedures
- 3.12.26.14.6 Field 045X - Line 5 Check Box
- 3.12.26.14.6.1 Field 045X - Correction Procedures
- 3.12.26.14.7 Field 046X - Line 6 Check Box
- 3.12.26.14.7.1 Field 046X - Correction Procedures
- 3.12.26.14.8 Field 047X - Line 7 Check Box
- 3.12.26.14.8.1 Field 0417X - Correction Procedures
- 3.12.26.14.9 Field 048X - Line 8 Check Box
- 3.12.26.14.9.1 Field 048X - Correction Procedures
- 3.12.26.14.10 Field 049X - Line 9 Check Box
- 3.12.26.14.10.1 Field 049X - Correction Procedures
- 3.12.26.14.11 Field 0410X - Line 10 Check Box
- 3.12.26.14.11.1 Field 0410X - Correction Procedures
- 3.12.26.14.12 Field 041AM - Line 1 Amount
- 3.12.26.14.12.1 Field 041AM - Correction Procedures
- 3.12.26.14.13 Field 042AM - Line 2 Amount
- 3.12.26.14.13.1 Field 042AM - Correction Procedures
- 3.12.26.14.14 Field 043AM - Line 3 Amount
- 3.12.26.14.14.1 Field 043AM - Correction Procedures
- 3.12.26.14.15 Field 044AM - Line 4 Amount
- 3.12.26.14.15.1 Field 044AM - Correction Procedures
- 3.12.26.14.16 Field 045AM - Line 5 Amount
- 3.12.26.14.16.1 Field 045AM - Correction Procedures
- 3.12.26.14.17 Field 046AM - Line 6 Amount
- 3.12.26.14.17.1 Field 046AM - Correction Procedures
- 3.12.26.14.18 Field 047AM - Line 7 Amount
- 3.12.26.14.18.1 Field 047AM - Correction Procedures
- 3.12.26.14.19 Field 048AM - Line 8 Amount
- 3.12.26.14.19.1 Field 048AM - Correction Procedures
- 3.12.26.14.20 Field 049AM - Line 9 Amount
- 3.12.26.14.20.1 Field 049AM - Correction Procedures
- 3.12.26.14.21 Field 0410M - Line 10 Amount
- 3.12.26.14.21.1 Field 0410M - Correction Procedures
- 3.12.26.14.1 Field 04TCB - Tax Credit Bond Code
- 3.12.26.15 Section 05 - Form 8038-B
- 3.12.26.15.1 Field 0521 - Type of Credit Bond Code Check Box
- 3.12.26.15.1.1 Field 0521 - Correction Procedures
- 3.12.26.15.2 Field 0522 - First Interest Payment Date
- 3.12.26.15.2.1 Field 0522 - Correction Procedures
- 3.12.26.15.3 Field 0523 - Interest Payment Date Frequency Check Box
- 3.12.26.15.3.1 Field 0523 - Correction Procedures
- 3.12.26.15.4 Field 0531A through 0532D - Part III, Lines 1a-1h and Lines 2a-2d Purpose of Issue Amount
- 3.12.26.15.4.1 Field 0531A through 0532D - Invalid Conditions
- 3.12.26.15.4.2 Field 0531A through 0532D - Correction Procedures
- 3.12.26.15.5 Field 0533 - Total Issue Price
- 3.12.26.15.5.1 Field 0533 - Invalid Conditions
- 3.12.26.15.5.2 Field 0533 - Correction Procedures
- 3.12.26.15.6 Field 0534 - Obligation TANs/RANs/BANs, Check Box
- 3.12.26.15.6.1 Field 0534 - Correction Procedures
- 3.12.26.15.7 Field 0535 - Obligation Lease Installment Check Box
- 3.12.26.15.7.1 Field 0535 - Correction Procedures
- 3.12.26.15.8 Field 0541 - Stated Redemption Price at Maturity Amount
- 3.12.26.15.8.1 Field 0536 - Correction Procedures
- 3.12.26.15.9 Field 0542 - Final Maturity Date
- 3.12.26.15.9.1 Field 0542 - Correction Procedures
- 3.12.26.15.10 Field 0543 - Weighted Average Maturity (Years)
- 3.12.26.15.10.1 Field 0543 - Correction Procedures
- 3.12.26.15.11 Field 0544 - Yield Percentage
- 3.12.26.15.11.1 Field 0544 - Correction Procedures
- 3.12.26.15.12 Field 0545A - Variable Rate Issue Check Box
- 3.12.26.15.12.1 Field 0545A - Correction Procedures
- 3.12.26.15.13 Field 0551 - Sales Proceeds Amount
- 3.12.26.15.13.1 Field 0551 - Correction Procedures
- 3.12.26.15.14 Field 0552 - Expected Investment Proceeds Amount
- 3.12.26.15.14.1 Field 0552 - Correction Procedures
- 3.12.26.15.15 Field 0553 - Proceeds Used for Accrued Interest Amount
- 3.12.26.15.15.1 Field 0553 - Correction Procedures
- 3.12.26.15.16 Field 0554 - Proceeds Used for bond Issuance Cost Amount
- 3.12.26.15.16.1 Field 0554 - Correction Procedures
- 3.12.26.15.17 Field 0555 - Proceeds Used for Credit Enhancement Amount
- 3.12.26.15.17.1 Field 0555 - Correction Procedures
- 3.12.26.15.18 Field 0556 - Proceeds Allocated to a Reasonably Required Reserve Fund Amount
- 3.12.26.15.18.1 Field 0556 - Correction Procedures
- 3.12.26.15.19 Field 0557 - Proceeds Used for Capital Expenditures Amount
- 3.12.26.15.19.1 Field 0557 - Correction Procedures
- 3.12.26.15.20 Field 0558 - Proceeds Used for Working Capital Expenditures Amount
- 3.12.26.15.20.1 Field 0558 - Correction Procedures
- 3.12.26.15.21 Field 0559 - Proceeds Used to Currently Refund Prior Issues Amount
- 3.12.26.15.21.1 Field 0559 - Correction Procedures
- 3.12.26.15.22 Field 05510 - Proceeds Used to Advance Refund Prior Issues Amount
- 3.12.26.15.22.1 Field 05510 - Correction Procedures
- 3.12.26.15.1 Field 0521 - Type of Credit Bond Code Check Box
- 3.12.26.16 Section 06 - Form 8038-B
- 3.12.26.16.1 Field 0661 - Weighted Average Currently Refunded Years
- 3.12.26.16.1.1 Field 0661 - Correction Procedures
- 3.12.26.16.2 Field 0662 - Weighted Average Advance Refunded Years
- 3.12.26.16.2.1 Field 0662 - Correction Procedures
- 3.12.26.16.3 Field 0663 - Refunded Bonds Call Date
- 3.12.26.16.3.1 Field 0663 - Correction Procedures
- 3.12.26.16.4 Field 0664 - Refunded Bonds Issue Date
- 3.12.26.16.4.1 Field 0664 - Correction Procedures
- 3.12.26.16.5 Field 0671 - State Volume Cap Issue Amount
- 3.12.26.16.5.1 Field 0671 - Correction Procedures
- 3.12.26.16.6 Field 0672A - Gross Proceeds Guaranteed Investment Contract (GIC) Amount
- 3.12.26.16.6.1 Field 0672A - Correction Procedures
- 3.12.26.16.7 Field 0672B - GIC Maturity Date
- 3.12.26.16.7.1 Field 0672B - Correction Procedures
- 3.12.26.16.8 Field 0673 - Proceeds Other Government Loan Amount
- 3.12.26.16.8.1 Field 0673 - Correction Procedures
- 3.12.26.16.9 Field 0674A - Loan Made from Proceeds Tax Exempt Issue Check Box
- 3.12.26.16.9.1 Field 0674A - Correction Procedures
- 3.12.26.16.10 Field 0674B - Date of Master Pool Obligation
- 3.12.26.16.10.1 Field 0674B - Correction Procedures
- 3.12.26.16.11 Field 0674C - Issuer EIN of Master Pool
- 3.12.26.16.11.1 Field 0674C - Correction Procedures
- 3.12.26.16.12 Field 0675A - Hedge Identifier Check Box
- 3.12.26.16.12.1 Field 0675A - Correction Procedures
- 3.12.26.16.13 Field 0676 - Hedge Super-Integrated Identifier Check Box
- 3.12.26.16.13.1 Field 0676 - Correction Procedures
- 3.12.26.16.14 Field 0677 - Penalty Payment Election Indicator Check Box
- 3.12.26.16.14.1 Field 0677 - Correction Procedures
- 3.12.26.16.15 Field 0678 - Issuer Established Procedure Non-qualified Section 1.141-12 Check Box
- 3.12.26.16.15.1 Field 0678 - Correction Procedures
- 3.12.26.16.16 Field 0679 - Issuer Established Procedure to Monitor Section 148 Check Box
- 3.12.26.16.16.1 Field 0679 - Correction Procedures
- 3.12.26.16.17 Field 06SIG - Signature Code
- 3.12.26.16.17.1 Field 06SIG - Invalid Conditions
- 3.12.26.16.17.2 Field 06SIG - Correction Procedures
- 3.12.26.16.18 Field 06PRE - Preparation Code
- 3.12.26.16.18.1 Field 06PRE - Invalid Conditions
- 3.12.26.16.18.2 Field 06PRE - Correction Procedures
- 3.12.26.16.19 Field 06PSN, Preparer's SSN or PTIN
- 3.12.26.16.19.1 Field 06PSN - Invalid Conditions
- 3.12.26.16.19.2 Field 06PSN - Correction Procedures
- 3.12.26.16.20 Field 06PEN, Preparer's EIN
- 3.12.26.16.20.1 Field 06PEN - Invalid Conditions
- 3.12.26.16.20.2 Field 06PEN - Correction Procedures
- 3.12.26.16.21 Field 06PTN, Preparer's Telephone Number
- 3.12.26.16.21.1 Field 06PTN - Correction Procedures
- 3.12.26.16.22 Field 0681 - Consent Election Check Box
- 3.12.26.16.22.1 Field 0681 - Correction Procedures
- 3.12.26.16.1 Field 0661 - Weighted Average Currently Refunded Years
- 3.12.26.17 Section 02 - Form 8703
- 3.12.26.17.1 Field 02BX - Project Check Box
- 3.12.26.17.1.1 Field 02BX - Correction Procedures
- 3.12.26.17.2 Field 02DT - Project Period Date
- 3.12.26.17.2.1 Field 02DT - Correction Procedures
- 3.12.26.17.3 Field 023A - Low-Income Housing Credit Allocation Check Box
- 3.12.26.17.3.1 Field 023A - Correction Procedures
- 3.12.26.17.4 Field 023B - Building Identification Number
- 3.12.26.17.4.1 Field 023B - Correction Procedures
- 3.12.26.17.5 Field 024 - Available Units in the Project Check Box
- 3.12.26.17.5.1 Field 024 - Correction Procedures
- 3.12.26.17.1 Field 02BX - Project Check Box
- 3.12.26.18 Section 03 - Form 8703
- 3.12.26.18.1 Field 035 - Units in Project Rented or Available
- 3.12.26.18.1.1 Field 035 - Correction Procedures
- 3.12.26.18.2 Field 036 - Number of Units Occupied by Individuals
- 3.12.26.18.2.1 Field 036 - Correction Procedures
- 3.12.26.18.3 Field 037 - Number of Units Occupied by Continuing Residence
- 3.12.26.18.3.1 Field 037 - Correction Procedures
- 3.12.26.18.4 Field 038 - Total Number of Low Income Units
- 3.12.26.18.4.1 Field 038 - Correction Procedures
- 3.12.26.18.5 Field 039 - Percentage Field
- 3.12.26.18.5.1 Field 039 - Correction Procedures
- 3.12.26.18.6 Field 0310A - Number of 40% and Under Low Income Units
- 3.12.26.18.6.1 Field 0310A - Correction Procedures
- 3.12.26.18.7 Field 0310B - Percentage of Line 10a Divided by Line 8 Amount
- 3.12.26.18.7.1 Field 0310B - Correction Procedures
- 3.12.26.18.8 Field 0311 - Number of Units Vacated
- 3.12.26.18.8.1 Field 0311 - Correction Procedures
- 3.12.26.18.9 Field 0312 - Number of Units Vacated and Occupied by New Residents
- 3.12.26.18.9.1 Field 0312 - Correction Procedures
- 3.12.26.18.10 Field 0313 - Number of Units Vacated and Held
- 3.12.26.18.10.1 Field 0313 - Correction Procedures
- 3.12.26.18.11 Field 0314 - Name of Issuer
- 3.12.26.18.11.1 Field 0314 - Correction Procedures
- 3.12.26.18.12 Field 0315 - Issuer's EIN
- 3.12.26.18.12.1 Field 0315 - Correction Procedures
- 3.12.26.18.13 Field 0316 - Name of Bond Issue
- 3.12.26.18.13.1 Field 0316 - Correction Procedures
- 3.12.26.18.14 Field 0317 - Date of Bond Issue
- 3.12.26.18.14.1 Field 0317 - Correction Procedures
- 3.12.26.18.15 Field 0318 - CUSIP Number
- 3.12.26.18.15.1 Field 0318 - Correction Procedures
- 3.12.26.18.16 Field 0319 - Issue Price
- 3.12.26.18.16.1 Field 0319 - Correction Procedures
- 3.12.26.18.17 Field 0320 - Final Maturity Date
- 3.12.26.18.17.1 Field 0320 - Correction Procedures
- 3.12.26.18.1 Field 035 - Units in Project Rented or Available
- 3.12.26.19 Form 8038-T Error Correction
- 3.12.26.19.1 Section 01 - Form 8038-T
- 3.12.26.19.2 Field RMIT> - Remittance Amount
- 3.12.26.19.3 Field 01NC - Name Control
- 3.12.26.19.3.1 Field 01NC - Invalid Conditions
- 3.12.26.19.3.2 Field 01NC - Correction Procedures
- 3.12.26.19.4 Name Control under print
- 3.12.26.19.4.1 Field 01NC - Correction Procedures
- 3.12.26.19.5 Field 01EIN - Employer Identification Number
- 3.12.26.19.5.1 Field 01EIN - Invalid Conditions
- 3.12.26.19.5.2 Field 01EIN - Correction Procedures
- 3.12.26.19.6 Field 01TXP - Tax Period
- 3.12.26.19.6.1 Field 01TXP - Invalid Conditions
- 3.12.26.19.6.2 Field 01TXP - Correction Procedures
- 3.12.26.19.7 Field 01RPT - Report Number
- 3.12.26.19.7.1 Field 01RPT - Invalid Conditions
- 3.12.26.19.7.2 Field 01RPT - Correction Procedures
- 3.12.26.19.8 Field 01CCC - Computer Condition Codes
- 3.12.26.19.8.1 Field 01CCC - Invalid Conditions
- 3.12.26.19.8.2 Field 01CCC - Correction Procedures
- 3.12.26.19.9 Field 01RCD - Received Date
- 3.12.26.19.9.1 Field 01RCD - Invalid Conditions
- 3.12.26.19.9.2 Field 01RCD - Correction Procedures
- 3.12.26.19.10 Field 01CRD - Correspondence Received Date
- 3.12.26.19.10.1 Field 01CRD - Invalid Conditions
- 3.12.26.19.10.2 Field 01CRD - Correction Procedures
- 3.12.26.19.11 Field 01NM1 - Issuer's Name
- 3.12.26.19.11.1 Field 01NM1 - Invalid Conditions
- 3.12.26.19.11.2 Field 01NM1 - Correction Procedures
- 3.12.26.19.12 Field 01NM2 - Issuer's Second Name Line
- 3.12.26.19.12.1 Field 01NM2 - Invalid Conditions
- 3.12.26.19.12.2 Field 01NM2 - Correction Procedures
- 3.12.26.19.13 Field 01CON - In Care of Name Line
- 3.12.26.19.13.1 Field 01CON - Correction Procedures
- 3.12.26.19.14 Field 01FAD - Foreign Address
- 3.12.26.19.14.1 Field 01FAD - Invalid Conditions
- 3.12.26.19.14.2 Field 01FAD - Correction Procedures
- 3.12.26.19.15 Unprocessable Conditions
- 3.12.26.19.15.1 Correcting Unprocessable Returns
- 3.12.26.19.16 Field 01ADD - Street Address
- 3.12.26.19.16.1 Field 01ADD - Invalid Conditions
- 3.12.26.19.16.2 Field 01ADD - Correction Procedures
- 3.12.26.19.17 Field 01CTY - City
- 3.12.26.19.17.1 Field 01CTY - Invalid Conditions
- 3.12.26.19.17.2 Field 01CTY - Correction Procedures
- 3.12.26.19.18 Field 01ST - State
- 3.12.26.19.18.1 Field 01ST - Invalid Conditions
- 3.12.26.19.18.2 Field 01ST - Correction Procedures
- 3.12.26.19.19 Field 01ZIP - Zip Code
- 3.12.26.19.19.1 Field 01ZIP - Invalid Conditions
- 3.12.26.19.19.2 Field 01ZIP - Correction Procedures
- 3.12.26.19.20 Field 01INM - Name of Issue
- 3.12.26.19.20.1 Field 01INM - Invalid Conditions
- 3.12.26.19.20.2 Field 01INM - Correction Procedures
- 3.12.26.19.21 Field 01DTI - Date of Issue
- 3.12.26.19.21.1 Field 01DTI - Invalid Conditions
- 3.12.26.19.21.2 Field 01DTI - Correction Procedures
- 3.12.26.19.22 Field 01CUS - CUSIP Number
- 3.12.26.19.22.1 Field 01CUS - Correction Procedures
- 3.12.26.19.23 Field 01CAF - CAF Indicator
- 3.12.26.19.23.1 Field 01CAF - Correction Procedures
- 3.12.26.20 Section 03 - Form 8038-T
- 3.12.26.20.1 Field 0311 - Entire Issue Price
- 3.12.26.20.1.1 Field 0311 - Invalid Conditions
- 3.12.26.20.1.2 Field 0311 - Correction Procedures
- 3.12.26.20.2 Field 0312D - Rebate Yield Reduction Computation Date
- 3.12.26.20.2.1 Field 0312D - Invalid Conditions
- 3.12.26.20.2.2 Field 0312D - Correction Procedures
- 3.12.26.20.3 Field 0313B - Less than 100% Rebate Check Box
- 3.12.26.20.3.1 Field 0313B - Correction Procedures
- 3.12.26.20.4 Field 0313 - Rebate Amount
- 3.12.26.20.4.1 Field 0313 - Correction Procedures
- 3.12.26.20.5 Field 0314B - Less than 100% Yield Reduction Check Box
- 3.12.26.20.5.1 Field 0314B - Correction Procedures
- 3.12.26.20.6 Field 0314 - Yield Reduction Payment Amount
- 3.12.26.20.6.1 Field 0314 - Correction Procedures
- 3.12.26.20.7 Field 0315 - QZAB Escrow Amount
- 3.12.26.20.7.1 Field 0315 - Correction Procedures
- 3.12.26.20.8 Field 0316 - Months Since Issue Date
- 3.12.26.20.8.1 Field 0316 - Correction Procedures
- 3.12.26.20.9 Field 0317 - Penalty in Lieu of Rebate Amount
- 3.12.26.20.9.1 Field 0317 - Correction Procedures
- 3.12.26.20.10 Field 0318D - Termination Date
- 3.12.26.20.10.1 Field 0318D - Correction Procedures
- 3.12.26.20.11 Field 0319 - Penalty Upon Termination Amount
- 3.12.26.20.11.1 Field 0319 - Correction Procedures
- 3.12.26.20.12 Field 0320B - Failure to Pay Timely Penalty Waiver Check Box
- 3.12.26.20.12.1 Field 0320B - Correction Procedures
- 3.12.26.20.13 Field 0321 - Failure to Pay Timely Penalty Amount
- 3.12.26.20.13.1 Field 0321 - Correction Procedures
- 3.12.26.20.14 Field 0322 - Interest on Underpayment Amount
- 3.12.26.20.14.1 Field 0322 - Correction Procedures
- 3.12.26.20.15 Field 0323 - Total Payment Amount
- 3.12.26.20.15.1 Field 0323 - Invalid Conditions
- 3.12.26.20.15.2 Field 0323 - Correction Procedures
- 3.12.26.20.16 Field 0324 - Unspent Proceeds Amount
- 3.12.26.20.16.1 Field 0324 - Correction Procedures
- 3.12.26.20.17 Field 0325 - Proceeds Used to Redeem Bonds Amount
- 3.12.26.20.17.1 Field 0325 - Correction Procedures
- 3.12.26.20.18 Field 0326 - Proceeds for GICs Escrow Amount
- 3.12.26.20.18.1 Field 0326 - Correction Procedures
- 3.12.26.20.19 Field 0327 - Fees for Guarantee Amount
- 3.12.26.20.19.1 Field 0327 - Correction Procedures
- 3.12.26.20.20 Field 0328B - Variable Rate Check Box
- 3.12.26.20.20.1 Field 0328B - Correction Procedures
- 3.12.26.20.21 Field 0329B - Hedge Agreement Check Box
- 3.12.26.20.21.1 Field 0329B - Correction Procedures
- 3.12.26.20.22 Field 0330B - Proceeds Invested GIC Check Box
- 3.12.26.20.22.1 Field 0330B - Correction Procedures
- 3.12.26.20.23 Field 0331B - Proceeds Invested Beyond Period Check Box
- 3.12.26.20.23.1 Field 0331B - Correction Procedures
- 3.12.26.20.24 Field 0332B - Issuer Preparer Check Box
- 3.12.26.20.24.1 Field 0332B - Correction Procedures
- 3.12.26.20.25 Field 03SIG - Signature Code
- 3.12.26.20.25.1 Field 03SIG - Invalid Conditions
- 3.12.26.20.25.2 Field 03SIG - Correction Procedures
- 3.12.26.20.26 Field 06PRE - Preparation Code
- 3.12.26.20.26.1 Field 03PRE - Invalid Conditions
- 3.12.26.20.26.2 Field 03PRE - Correction Procedures
- 3.12.26.20.27 Field 036PSN - Preparer's PTIN
- 3.12.26.20.27.1 Field 03PSN - Invalid Conditions
- 3.12.26.20.27.2 Field 03PSN - Correction Procedures
- 3.12.26.20.28 Field 03PEN, Preparer's EIN
- 3.12.26.20.28.1 Field 03PEN - Invalid Conditions
- 3.12.26.20.28.2 Field 03PEN - Correction Procedures
- 3.12.26.20.29 Field 03PTN - Preparer's Telephone Number
- 3.12.26.20.29.1 Field 03PTN - Invalid Conditions
- 3.12.26.20.29.2 Field 03PTN - Correction Procedures
- 3.12.26.20.1 Field 0311 - Entire Issue Price
- 3.12.26.21 Section 01 - Form 8038-CP
- 3.12.26.21.1 Field 01NC - Name Control
- 3.12.26.21.1.1 Field 01NC - Invalid Conditions
- 3.12.26.21.1.2 Field 01NC - Correction Procedures
- 3.12.26.21.2 Name Control under print
- 3.12.26.21.3 Field 01EIN - Employer Identification Number
- 3.12.26.21.3.1 Field 01EIN - Invalid Conditions
- 3.12.26.21.3.2 Field 01EIN - EIN Correction Procedures
- 3.12.26.21.4 Field 01TXP - Tax Period
- 3.12.26.21.4.1 Field 01TXP - Invalid Conditions
- 3.12.26.21.4.2 Field 01TXP - Correction Procedures
- 3.12.26.21.5 Field 01RPT - Report Number
- 3.12.26.21.5.1 Field 01RPT - Correction Procedures
- 3.12.26.21.6 Field 01CCC Computer Condition Codes
- 3.12.26.21.6.1 Field 01CCC - Invalid Conditions
- 3.12.26.21.6.2 Field 01CCC - Correction Procedures
- 3.12.26.21.7 Field 01RCD - Received Date
- 3.12.26.21.7.1 Field 01RCD - Invalid Conditions
- 3.12.26.21.7.2 Field 01RCD - Correction Procedures
- 3.12.26.21.8 Field 01CRD - Correspondence Received Date
- 3.12.26.21.8.1 Field 01CRD - Invalid Conditions
- 3.12.26.21.8.2 Field 01CRD - Correction Procedures
- 3.12.26.21.9 Field 01NME, Name of Entity to Receive Payment of the Credit
- 3.12.26.21.9.1 Field 01NME - Invalid Conditions
- 3.12.26.21.9.2 Field 01NME - Correction Procedures
- 3.12.26.21.10 Field 01NM2, Name of Entity Second Name Line
- 3.12.26.21.10.1 Field 01NM2 - Invalid Conditions
- 3.12.26.21.10.2 Field 01NM2 - Correction Procedures
- 3.12.26.21.11 Field 01CON - In Care of Name Line
- 3.12.26.21.11.1 Field 01CON - Correction Procedures
- 3.12.26.21.12 Field 01FAD - Foreign Address
- 3.12.26.21.12.1 Field 01FAD - Invalid Conditions
- 3.12.26.21.12.2 Field 01FAD - Correction Procedures
- 3.12.26.21.13 Field 01ADD - Street Address
- 3.12.26.21.13.1 Field 01ADD - Invalid Conditions
- 3.12.26.21.13.2 Field 01ADD - Correction Procedures
- 3.12.26.21.14 Field 01CTY - City
- 3.12.26.21.14.1 Field 01CTY - Invalid conditions
- 3.12.26.21.14.2 Field 01CTY - Correction Procedures
- 3.12.26.21.15 Field 01ST - State
- 3.12.26.21.15.1 Field 01ST - Invalid Conditions
- 3.12.26.21.15.2 Field 01ST - Correction Procedures
- 3.12.26.21.16 Field 01ZIP - Zip Code
- 3.12.26.21.16.1 Field 01ZIP - Invalid Conditions
- 3.12.26.21.16.2 Field 01ZIP - Correction Procedures
- 3.12.26.21.17 Field 01DTI - Date of Issue
- 3.12.26.21.17.1 Field 01DTI - Invalid Conditions
- 3.12.26.21.17.2 Field 01DTI - Correction Procedures
- 3.12.26.21.18 Field 01INM - Name of Issue
- 3.12.26.21.18.1 Field 01NM - Invalid Conditions
- 3.12.26.21.18.2 Field 01NM - Correction Procedures
- 3.12.26.21.19 Field 01CUS - CUSIP Number
- 3.12.26.21.19.1 Field 01CUS - Invalid Conditions
- 3.12.26.21.19.2 Field 01CUS - Correction Procedures
- 3.12.26.21.20 Field 01CAF - CAF Indicator
- 3.12.26.21.20.1 Field 01CAF - Correction Procedures
- 3.12.26.21.21 ERS Action Codes
- 3.12.26.21.21.1 ERS Action Code - Correction Procedures
- 3.12.26.21.22 TPNC - Taxpayer Notice Code
- 3.12.26.21.22.1 TPNC - Invalid Conditions
- 3.12.26.21.22.2 TPNC - Correction Procedures
- 3.12.26.21.1 Field 01NC - Name Control
- 3.12.26.22 Section 02 - Form 8038-CP
- 3.12.26.22.1 Field 02NM1, Issuer's Name
- 3.12.26.22.1.1 Field 02NM1 - Invalid Conditions
- 3.12.26.22.1.2 Field 02NM1 - Correction Procedures
- 3.12.26.22.2 Field 02EIN - Part II EIN
- 3.12.26.22.2.1 Field 02EIN - Invalid Conditions
- 3.12.26.22.2.2 Field 02EIN - Correction Procedures
- 3.12.26.22.3 Field 02ADD - Street Address
- 3.12.26.22.3.1 Field 02ADD - Invalid Conditions
- 3.12.26.22.3.2 Field 02ADD - Correction Procedures
- 3.12.26.22.4 Field 02CTY, City
- 3.12.26.22.4.1 Field 02CTY - Invalid Conditions
- 3.12.26.22.4.2 Field 02CTY - Correction Procedures
- 3.12.26.22.5 Field 02ST, State
- 3.12.26.22.5.1 Field 02ST - Invalid Conditions
- 3.12.26.22.5.2 Field 02ST - Correction Procedures
- 3.12.26.22.6 Field 02ZIP, Zip Code
- 3.12.26.22.6.1 Field 02ZIP - Invalid Conditions
- 3.12.26.22.6.2 Field 02ZIP - Correction Procedures
- 3.12.26.22.7 Field 0217A -Variable or Fixed Check Box (determines due date)
- 3.12.26.22.7.1 Field 0217A - Invalid Conditions
- 3.12.26.22.7.2 Field 0217A - Correction Procedures
- 3.12.26.22.8 Field 0217B - Issue Price
- 3.12.26.22.8.1 Field 0217B - Invalid Conditions
- 3.12.26.22.8.2 Field 0217B - Correction Procedures
- 3.12.26.22.9 Field 0217C - Type of Bond Code
- 3.12.26.22.9.1 Field 0217C - Invalid Conditions
- 3.12.26.22.9.2 Field 0217C - Correction Procedures
- 3.12.26.22.10 Field 0218 - Interest Payment Date
- 3.12.26.22.10.1 Field 0218 - Invalid Conditions
- 3.12.26.22.10.2 Field 0218 - Correction Procedures
- 3.12.26.22.11 Field 0219A, Interest Payable to Bond Holders
- 3.12.26.22.11.1 Field 0219A - Invalid Conditions
- 3.12.26.22.11.2 Field 0219A - Correction Procedures
- 3.12.26.22.12 Field 0219B - Applicable Credit Rate
- 3.12.26.22.12.1 Field 0219B - Invalid Conditions
- 3.12.26.22.12.2 Field 0219B - Correction Procedures
- 3.12.26.22.13 Field 0219C - Interest Payable to Bond Holders Based on Applicable Credit Rate
- 3.12.26.22.13.1 Field 0219C - Invalid Conditions
- 3.12.26.22.13.2 Field 0219C - Correction Procedures
- 3.12.26.22.14 Field 0220A, Build America Bonds
- 3.12.26.22.14.1 Field 0220A - Invalid Conditions
- 3.12.26.22.14.2 Field 0220A - Correction Procedures
- 3.12.26.22.15 Field 0220B, Recovery Zone Economic Development Bonds
- 3.12.26.22.15.1 Field 0220B - Invalid Conditions
- 3.12.26.22.15.2 Field 0220B - Correction Procedures
- 3.12.26.22.16 Field 0220C - New Clean Renewable Energy Bond Amount
- 3.12.26.22.16.1 Field 0220C - Invalid Conditions
- 3.12.26.22.16.2 Field 0220C - Correction Procedures
- 3.12.26.22.17 Field 0220D - Qualified Energy Conservation Bond Amount
- 3.12.26.22.17.1 Field 0220D - Invalid Conditions
- 3.12.26.22.17.2 Field 0220D - Correction Procedures
- 3.12.26.22.18 Field 0220E - Qualified Zone Academy Bond Amount
- 3.12.26.22.18.1 Field 0219E - Invalid Conditions
- 3.12.26.22.18.2 Field 0220E - Correction Procedures
- 3.12.26.22.19 Field 0220F - Qualified School Construction Bond Amount
- 3.12.26.22.19.1 Field 0220F - Invalid Conditions
- 3.12.26.22.19.2 Field 0220F - Correction Procedures
- 3.12.26.22.20 Field 0221A, Net Increase
- 3.12.26.22.20.1 Field 0221A - Invalid Conditions
- 3.12.26.22.20.2 Field 0221A - Correction Procedures
- 3.12.26.22.21 Field 0221B, Net Decrease
- 3.12.26.22.21.1 Field 0221B - Invalid Conditions
- 3.12.26.22.21.2 Field 0221B - Correction Procedures
- 3.12.26.22.22 Field 0221C - Net Increase or Decrease Explanation Code
- 3.12.26.22.22.1 Field 0221C - Invalid Conditions
- 3.12.26.22.22.2 Field 0221C - Correction Procedures
- 3.12.26.22.23 Field 0222, Amount of Credit Payment to be Received
- 3.12.26.22.23.1 Field 0222 - Correction Procedures
- 3.12.26.22.24 Field 0223 - Has There Been a Change to the Debt Service Schedule Check Boxes
- 3.12.26.22.24.1 Field 0223 - Invalid Conditions
- 3.12.26.22.24.2 Field 0223 - Correction Procedures
- 3.12.26.22.25 Field 0223A - Change to Debt Service Schedule (DSS) Code
- 3.12.26.22.25.1 Field 0223A - Invalid Conditions
- 3.12.26.22.25.2 Field 0223A - Correction Procedures
- 3.12.26.22.26 Field 0224 - Are You Current on Your Interest Payments Check Boxes
- 3.12.26.22.26.1 Field 0224 - Correction Procedures
- 3.12.26.22.27 Field 0224A - Explanation Code
- 3.12.26.22.27.1 Field 0224A - Invalid Conditions
- 3.12.26.22.27.2 Field 0224A - Correction Procedures
- 3.12.26.22.28 Field 0225, Final Interest Payment Date Check Box
- 3.12.26.22.28.1 Field 0225 - Invalid Conditions
- 3.12.26.22.28.2 Field 0225 - Correction Procedures
- 3.12.26.22.29 Field 0226 - Schedule A, Line 3
- 3.12.26.22.29.1 Field 0226 - Invalid Conditions
- 3.12.26.22.29.2 Field 0226 -Correction Procedures
- 3.12.26.22.30 Field 02SIG - Signature Code
- 3.12.26.22.30.1 Field 02SIG - Invalid Conditions
- 3.12.26.22.30.2 Field 02SIG - Correction Procedures
- 3.12.26.22.31 Field 02PRE - Preparation Code
- 3.12.26.22.31.1 Field 02PRE - Invalid Conditions
- 3.12.26.22.31.2 Field 02PRE - Correction Procedures
- 3.12.26.22.32 Field 02PSN - Preparer's SSN or PTIN
- 3.12.26.22.32.1 Field 02PSN - Invalid Conditions
- 3.12.26.22.32.2 Field 02PSN - Correction Procedures
- 3.12.26.22.33 Field 02PEN - Preparer's EIN
- 3.12.26.22.33.1 Field 02PEN - Invalid Conditions
- 3.12.26.22.33.2 Field 02PEN - Correction Procedures
- 3.12.26.22.34 Field 02CBT - Preparer's Telephone Number
- 3.12.26.22.34.1 Field 02CBT - Invalid Conditions
- 3.12.26.22.34.2 Field 02CBT - Correction Procedures
- 3.12.26.22.1 Field 02NM1, Issuer's Name
- 3.12.26.23 Section 12 - Form 8038-CP
- 3.12.26.23.1 Field 12RTN - Routing Transit Number
- 3.12.26.23.1.1 Field 12RTN - Invalid Conditions
- 3.12.26.23.1.2 Field 12RTN - Correction Procedures
- 3.12.26.23.2 Field 12DAN - Depositor Account Number
- 3.12.26.23.2.1 Field 12DAN - Invalid Conditions
- 3.12.26.23.2.2 Field 12DAN - Correction Procedures
- 3.12.26.23.3 Field 12DDC- Direct Deposit Code
- 3.12.26.23.4 Field 12TDA - Type Depositor Account
- 3.12.26.23.4.1 Field 12TDA - Invalid Conditions
- 3.12.26.23.4.2 Field 12TDA -Correction Procedures
- 3.12.26.23.1 Field 12RTN - Routing Transit Number
- 3.12.26.24 Error Codes - Instructions for Tax Exempt Bonds
- 3.12.26.24.1 Error Code 001
- 3.12.26.24.1.1 Error Code 001 - Invalid Conditions
- 3.12.26.24.1.2 Error Code 001 - Correction Procedures
- 3.12.26.24.2 Error Code 002
- 3.12.26.24.2.1 Error Code 002 - Invalid Conditions
- 3.12.26.24.2.2 Error Code 002 - Correction Procedures
- 3.12.26.24.3 Error Code 003
- 3.12.26.24.3.1 Error Code 003 - Invalid Conditions
- 3.12.26.24.3.2 Error Code 003 - Correction Procedures
- 3.12.26.24.4 Error Code 004
- 3.12.26.24.4.1 Error Code 004 - Invalid Conditions
- 3.12.26.24.4.2 Error Code 004 - Correction Procedures
- 3.12.26.24.5 Error Code 007
- 3.12.26.24.5.1 Error Code 007 - Invalid Conditions
- 3.12.26.24.5.2 Error Code 007 - Correction Procedures
- 3.12.26.24.6 Error Code 010
- 3.12.26.24.6.1 Error Code 010 - Invalid Conditions
- 3.12.26.24.6.2 Error Code 010 - Correction Procedure
- 3.12.26.24.7 Error Code 011, Form 8038-T
- 3.12.26.24.7.1 Error Code 011, Form 8038-T - Invalid Conditions
- 3.12.26.24.7.2 Error Code 011, Form 8038-T - Correction Procedures
- 3.12.26.24.8 Error Code 014
- 3.12.26.24.8.1 Error Code 014 - Invalid Conditions
- 3.12.26.24.8.2 Error Code 014 - Correction Procedures
- 3.12.26.24.9 Unprocessable Conditions
- 3.12.26.24.9.1 Correcting Unprocessable Returns
- 3.12.26.24.10 Error Code 015
- 3.12.26.24.10.1 Error Code 015 - Invalid Conditions
- 3.12.26.24.10.2 Error Code 015 - Correction Procedures
- 3.12.26.24.11 Error Code 016
- 3.12.26.24.11.1 Error Code 016 - Invalid Conditions
- 3.12.26.24.11.2 Error Code 016 - Correction Procedures
- 3.12.26.24.12 Error Code 028
- 3.12.26.24.12.1 Error Code 028 - Invalid Conditions
- 3.12.26.24.12.2 Error Code 028 - Correction Procedures
- 3.12.26.24.13 Error Code 034
- 3.12.26.24.13.1 Error Code 034 - Invalid Conditions
- 3.12.26.24.13.2 Error Code 034 - Correction Procedures
- 3.12.26.24.14 Error Code 073
- 3.12.26.24.14.1 Error Code 073 - Invalid Conditions
- 3.12.26.24.14.2 Error Code 073 - Correction Procedures
- 3.12.26.24.15 Error Code 100 ~ Form 8038, Form 8038-B, Form 8038-G, Form 8038-GC, Form 8038-T, Form 8038-TC, and Form 8703 and
- 3.12.26.24.15.1 Error Code 100 -Invalid Conditions
- 3.12.26.24.15.2 Error Code 100 - Correction Procedures
- 3.12.26.24.16 Error Code 110, Form 8038-T
- 3.12.26.24.16.1 Error Code 110, Form 8038-T Invalid Conditions
- 3.12.26.24.16.2 Error Code 110, Form 8038-T Correction Procedures
- 3.12.26.24.17 Error Code 120 - Form 8038, Form 8038-B, Form 8038-G, Form 8038-GC, Form 8038-T, Form 8038-TC, and Form 8703
- 3.12.26.24.17.1 Error Code 120 - Invalid Conditions
- 3.12.26.24.17.2 Error Code 120 - Correction Procedures
- 3.12.26.24.18 Error Code 125, Form 8038-CP
- 3.12.26.24.18.1 Error Code 125, Form 8038-CP - Invalid Conditions
- 3.12.26.24.18.2 Error Code 125, Form 8038-CP - Correction Procedures
- 3.12.26.24.19 Error Code 130, Form 8703
- 3.12.26.24.19.1 Error Code 130 - Invalid Conditions
- 3.12.26.24.19.2 Error Code 130 - Correction Procedures
- 3.12.26.24.20 Error Code 300, Form 8038-T
- 3.12.26.24.20.1 Error Code 300 - Invalid Conditions
- 3.12.26.24.20.2 Error Code 300, Form 8038-T - Correction Procedures
- 3.12.26.24.21 Error Code 310 - Form 8038-T
- 3.12.26.24.21.1 Error Code 310 - Invalid Conditions
- 3.12.26.24.21.2 Error Code 310 - Correction Procedures
- 3.12.26.24.22 Error Code 310, Form 8038
- 3.12.26.24.22.1 Error Code 310 - Invalid Conditions
- 3.12.26.24.22.2 Error Code 310 - Correction Procedures
- 3.12.26.24.23 Error Code 315, Form 8038
- 3.12.26.24.23.1 Error Code 315 - Invalid Conditions
- 3.12.26.24.23.2 Error Code 315 - Correction Procedures
- 3.12.26.24.24 Error Code 320 - Form 8038
- 3.12.26.24.24.1 Error Code 320 - Invalid Conditions
- 3.12.26.24.24.2 Error Code 320, Form 8038 - Correction Procedures
- 3.12.26.24.25 Error Code 325 - Form 8038
- 3.12.26.24.25.1 Error Code 325 - Invalid Conditions
- 3.12.26.24.25.2 Error Code 325 - Correction Procedures
- 3.12.26.24.26 Error Code 330 - Form 8038
- 3.12.26.24.26.1 Error Code 330 - Invalid Conditions
- 3.12.26.24.26.2 Error Code 330 - Correction Procedures
- 3.12.26.24.27 Error Code 335 - Form 8038
- 3.12.26.24.27.1 Error Code 335 - Invalid Conditions
- 3.12.26.24.27.2 Error Code 335 - Correction Procedures
- 3.12.26.24.28 Error Code 340 - Form 8038
- 3.12.26.24.28.1 Error Code 340 - Invalid Conditions
- 3.12.26.24.28.2 Error Code 340 - Correction Procedures
- 3.12.26.24.29 Error Code 345 - Form 8038
- 3.12.26.24.29.1 Error Code 345 - Invalid Conditions
- 3.12.26.24.29.2 Error Code 345 - Correction Procedures
- 3.12.26.24.30 Error Code 360 - Form 8038-G
- 3.12.26.24.30.1 Error Code 360 - Invalid Conditions
- 3.12.26.24.30.2 Error Code 360 - Correction Procedures
- 3.12.26.24.31 Error Code 365 - Form 8038-G
- 3.12.26.24.31.1 Error Code 365 - Invalid Conditions
- 3.12.26.24.31.2 Error Code 365 - Correction Procedures
- 3.12.26.24.32 Error Code 370 - Form 8038-G
- 3.12.26.24.32.1 Error Code 370 - Invalid Conditions
- 3.12.26.24.32.2 Error Code 370 - Correction Procedures
- 3.12.26.24.33 Error Code 375 - Form 8038-G
- 3.12.26.24.33.1 Error Code 375 - Invalid Conditions
- 3.12.26.24.33.2 Error Code 375 - Correction Procedures
- 3.12.26.24.34 Error Code 380 - Form 8038-G
- 3.12.26.24.34.1 Error Code 380 - Invalid Conditions
- 3.12.26.24.34.2 Error Code 380 - Correction Procedures
- 3.12.26.24.35 Error Code 385 - Form 8038-G
- 3.12.26.24.35.1 Error Code 385 - Invalid Conditions
- 3.12.26.24.35.2 Error Code 385, Form 8038-G - Correction Procedures
- 3.12.26.24.36 Error Code 390 - Form 8328
- 3.12.26.24.36.1 Error Code 390 - Invalid Conditions
- 3.12.26.24.36.2 Error Code 390 - Correction Procedures
- 3.12.26.24.37 Error Code 395 - Form 8328
- 3.12.26.24.37.1 Error Code 395 - Invalid Conditions
- 3.12.26.24.37.2 Error Code 395 - Correction Procedures
- 3.12.26.24.38 Error Code 400 - Form 8328
- 3.12.26.24.38.1 Error Code 400 - Invalid Conditions
- 3.12.26.24.38.2 Error Code 400 - Correction Procedures
- 3.12.26.24.39 Error Code 405, Form 8328
- 3.12.26.24.39.1 Error Code 405 - Invalid Conditions
- 3.12.26.24.39.2 Error Code 405 - Correction Procedures
- 3.12.26.24.40 Error Code 410 - Form 8328
- 3.12.26.24.40.1 Error Code 410 - Invalid Conditions
- 3.12.26.24.40.2 Error Code 410 - Correction Procedures
- 3.12.26.24.41 Error Code 415 - Form 8328
- 3.12.26.24.41.1 Error Code 415 - Invalid Conditions
- 3.12.26.24.41.2 Error Code 415 - Correction Procedures
- 3.12.26.24.42 Error Code 420 - Form 8328
- 3.12.26.24.42.1 Error Code 420 - Invalid Conditions
- 3.12.26.24.42.2 Error Code 420 - Correction Procedures
- 3.12.26.24.43 Error Code 425 - Form 8328
- 3.12.26.24.43.1 Error Code 425 - Invalid Conditions
- 3.12.26.24.43.2 Error Code 425 - Correction Procedures
- 3.12.26.24.44 Error Code 430 - Form 8328
- 3.12.26.24.44.1 Error Code 430 - Invalid Conditions
- 3.12.26.24.44.2 Error Code 430 - Correction Procedures
- 3.12.26.24.45 Error Code 435 - Form 8328
- 3.12.26.24.45.1 Error Code 435 - Invalid Conditions
- 3.12.26.24.45.2 Error Code 435 - Correction Procedures
- 3.12.26.24.46 Error Code 500 - Form 8038-CP
- 3.12.26.24.46.1 Error Code 500 - Invalid Conditions
- 3.12.26.24.46.2 Error Code 500 - Correction Procedures
- 3.12.26.24.47 Error Code 510 - Form 8038-CP
- 3.12.26.24.47.1 Error Code 510 - Invalid Conditions
- 3.12.26.24.47.2 Error Code 510 - Correction Procedures
- 3.12.26.24.48 Error Code 520 - Form 8038-CP
- 3.12.26.24.48.1 Error Code 520 - Invalid Conditions - Form 8038-CP
- 3.12.26.24.48.2 Error Code 520, Form 8038-CP - Correction Procedures
- 3.12.26.24.49 Error Code 530 - Form 8038-CP
- 3.12.26.24.49.1 Error Code 530 - Invalid Conditions
- 3.12.26.24.49.2 Error Code 530 - Correction Procedures
- 3.12.26.24.50 Error Code 531 - Form 8038-CP
- 3.12.26.24.50.1 Error Code 531 - Invalid Conditions
- 3.12.26.24.50.2 Error Code 531 - Correction Procedures
- 3.12.26.24.51 Error Code 532 - Form 8038-CP
- 3.12.26.24.51.1 Error Code 532 - Invalid Conditions
- 3.12.26.24.51.2 Error Code 532 - Correction Procedures
- 3.12.26.24.52 Error Code 533 - Form 8038-CP
- 3.12.26.24.52.1 Error Code 533 - Invalid Conditions
- 3.12.26.24.52.2 Error Code 533 - Correction Procedures
- 3.12.26.24.53 Error Code 534 - Form 8038-CP
- 3.12.26.24.53.1 Error Code 534 - Invalid Conditions
- 3.12.26.24.53.2 Error Code 534 - Correction Procedures
- 3.12.26.24.54 Error Code 540 - Form 8038-CP
- 3.12.26.24.54.1 Error Code 540 - Invalid Conditions, Form 8038-CP
- 3.12.26.24.54.2 Error Code 540 - Correction Procedures
- 3.12.26.24.55 Error Code 545 - Form 8038-CP
- 3.12.26.24.55.1 Error Code 545 - Invalid Conditions
- 3.12.26.24.55.2 Error Code 545 - Correction Procedures
- 3.12.26.24.56 Error Code 546 - Schedule A, Line 3
- 3.12.26.24.56.1 Error Code 546 - Schedule A, Line 3 - Invalid Conditions
- 3.12.26.24.56.2 Error Code 546 - Schedule A, Line 3 - Correction Procedures
- 3.12.26.24.57 Error Code 320 - Form 8038-CP
- 3.12.26.24.57.1 Error Code 320 - Invalid Conditions
- 3.12.26.24.57.2 Error Code 320 - Correction Procedures
- 3.12.26.24.58 Error Code 605 - Form 8038-TC
- 3.12.26.24.58.1 Error Code 605 - Invalid Conditions
- 3.12.26.24.58.2 Error Code 605 - Correction Procedures
- 3.12.26.24.59 Error Code 610 - Form 8038-TC
- 3.12.26.24.59.1 Error Code 610 - Invalid Conditions
- 3.12.26.24.59.2 Error Code 610 - Correction Procedures
- 3.12.26.24.60 Error Code 615 - Form 8038-TC
- 3.12.26.24.60.1 Error Code 615 - Invalid Conditions
- 3.12.26.24.60.2 Error Code 615 - Correction Procedures
- 3.12.26.24.61 Error Code 620 - Form 8038-TC
- 3.12.26.24.61.1 Error Code 620 Invalid Conditions
- 3.12.26.24.61.2 Error Code 620 Correction Procedures
- 3.12.26.24.62 Error Code 625 - Form 8038-TC
- 3.12.26.24.62.1 Error Code 625 - Invalid Conditions
- 3.12.26.24.62.2 Error Code 625 - Correction Procedures
- 3.12.26.24.63 Error Code 630 - Form 8038-TC
- 3.12.26.24.63.1 Error Code 630 - Invalid Conditions
- 3.12.26.24.63.2 Error Code 630 - Correction Procedures
- 3.12.26.24.64 Error Code 700 - Form 8038-B
- 3.12.26.24.64.1 Error Code 700 - Invalid Conditions
- 3.12.26.24.64.2 Error Code 700 - Correction Procedures
- 3.12.26.24.65 Error Code 705 - Form 8038-B
- 3.12.26.24.65.1 Error Code 705 - Invalid Conditions
- 3.12.26.24.65.2 Error Code 705 - Correction Procedures
- 3.12.26.24.66 Error Code 710 - Form 8038-B
- 3.12.26.24.66.1 Error Code 710 - Invalid Conditions
- 3.12.26.24.66.2 Error Code 710 - Correction Procedures
- 3.12.26.24.67 Error Code 715 - Form 8038-B
- 3.12.26.24.67.1 Error Code 715 - Invalid Conditions - Form 8038-B
- 3.12.26.24.67.2 Error Code 715 - Correction Procedures
- 3.12.26.24.68 Error Code 805 - Form 8703
- 3.12.26.24.68.1 Error Code 805 - Invalid Conditions
- 3.12.26.24.68.2 Error Code 805 - Correction Procedures
- 3.12.26.24.69 Error Code 815 - Form 8703
- 3.12.26.24.69.1 Error Code 815 - Invalid Conditions
- 3.12.26.24.69.2 Error Code 815 - Correction Procedures
- 3.12.26.24.70 Error Code 999
- 3.12.26.24.70.1 Error Code 999 -Invalid Conditions
- 3.12.26.24.70.2 Error Code 999 - Correction Procedures
- 3.12.26.24.1 Error Code 001
- 3.12.26.25 Entity Perfection - Tax Exempt Bonds, Mortgage Credit Certificates Notification (Correspondence), Notice of Defeasance and Student Loan Bonds
- 3.12.26.25.1 Editing Tax Exempt Bond Forms
- 3.12.26.25.2 Issuer's Name
- 3.12.26.25.3 Issuer's Address
- 3.12.26.25.4 Issuer's Employer Identification Number (EIN)
- 3.12.26.25.5 Multiple EINs
- 3.12.26.25.6 Correspondence
- 3.12.26.25.7 Unpostables
- 3.12.26.26 Accounting - General Information Relating to Tax Exempt Bonds
- 3.12.26.26.1 Depositing Arbitrage Payments
- Exhibit 3.12.26-1 Julian Date Calendars Perpetual, 365 Days and Leap Year, 366 Days
- Exhibit 3.12.26-2 Due Date Chart - Form 8038, Form 8038-B, Form 8038-G and Form 8038-TC
- Exhibit 3.12.26-3 Prior Year Conversion Charts for Form 8038, Form 8038-CP, Form 8038-G, Form 8038-GC, Form 8038-T, and Form 8703
- Exhibit 3.12.26-4 Computer Condition Codes
- Exhibit 3.12.26-5 ERS Action Codes
Part 3. Submission Processing
Chapter 12. Error Resolution
Section 26. Tax Exempt Bond Error Resolution Procedures
3.12.26 Tax Exempt Bond Error Resolution Procedures
Manual Transmittal
December 02, 2024
Purpose
(1) This transmits a complete revision to IRM 3.12.26, Tax Exempt Bond Error Resolution Procedures.
Background
The instructions in this IRM are used for correcting errors made by filers of Tax Exempt Bond (TEB) returns (Forms 8038, 8038-B, 8038-CP, 8038-G, 8038-GC, 8038-T, 8038-TC, 8328 and 8703) as well as those made by Submission Processing Center operations. TEB processing is centralized at the Ogden IRS Campus.
Material Changes
(1) Minor editorial changes made throughout this IRM (e.g., line number updates, spelling, punctuation, links, formatting, etc.).
(2) IRM 3.12.26 - Updated Wage and Investment (W&I) to Taxpayer Services (TS) through out.
(3) IRM 3.12.26.1 - Updated form titles.
(4) IRM 3.12.26.2.2 - Added Chiefs and Independent Office of Appeals.
(5) IRM 3.12.26.3.3.1(4) - Updated form title.
(6) IRM 3.12.26.3.3.2 - Updated table to bullet lists.
(7) IRM 3.12.26.4.3.1(2) - Re-ordered list to be in numeric order.
(8) IRM 3.12.26.5.1 - Updated tables to be in correct order.
(9) IRM 3.12.26.5.6 - Updated table to be in correct order.
(10) IRM 3.12.26.5.7(2) - Updated list to be in correct order.
(11) IRM 3.12.26.5.15.1(3) Table - Updated TE/GE symbols.
(12) IRM 3.12.26.11 IPU 24U0907 issued 08-06-2024 - Added Lines 7 through 10j.
(13) IRM 3.12.26.11.7 through IRM 3.12.26.11.21.1 IPU 24U0907 issued 08-06-2024 - Added Field Errors for Lines 7 through 10j.
(14) IRM 3.12.26.19.15.1(3) Table - Updated TE/GE symbols.
(15) IRM 3.12.26.24.9.1 (3) Table - Updated TE/GE symbols.
Effect on Other Documents
This supersedes IRM 3.12.26 dated January 1, 2024. This IRM also incorporates the following IRM Procedural Updates (IPU)24U0907.Audience
Taxpayer Services (TS)Error Resolution and Rejects functions
Ogden Submission Processing Employees
Effective Date
(01-01-2025)Judith Cook
Acting Director, Shared Services
Tax Exempt and Government Entities
-
The information in this Internal Revenue Manual (IRM) provides instructions for Taxpayer Services Error Resolution Tax Examiners to correct errors for the returns below:
-
Form 8038, Information Return for Tax Exempt Private Activity Bond Issues;
-
Form 8038-B, Information Return for Build America Bonds and Recovery Zone Economic Development Bonds;
-
Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds;
-
Form 8038-G, Information Return for Tax Exempt Government Purpose Tax-Exempt Bond Issues;
-
Form 8038-GC, Information Return for Small Tax-Exempt Governmental Bond Issues, Leases and Installment Sales;
-
Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate;
-
Form 8038-TC, Information Return for Tax Credit and Specified Tax Credit Bonds as the result of the new Hire bill;
-
Form 8328, Carryforward Election of Unused Private Activity Bond Volume Cap;
-
Form 8703, Annual Certification of a Residential Rental Project
-
-
Purpose: Provide instructions for Input Correction, Error Resolution System (ERS) with a means to resolve errors made by taxpayers and correct errors made during campus processing.
-
Audience: Taxpayer Services (TS), Submission Processing for the use of the following audience located at the Ogden Campus:
-
ERS Supervisory Tax Examining Assistant, Lead Tax Examining Technician, Tax Examining Technician.
-
Rejects Supervisory Tax Examining Technician, Lead Tax Examining Technician, Tax Examining Technician.
-
-
Policy Owner: Director, Government Entities/Shared Services, Business Systems Planning, Tax Exempt and Government Entities.
-
Program Owner: Tax Exempt and Government Entities (TE/GE) Submission Processing Programs and Oversight (SPP&O).
-
Primary Stakeholders: Other areas that may be affected by these procedures include (but not limited to):
-
Accounts Management (AM)
-
Compliance
-
Statistics of Income (SOI)
-
Submission Processing (SP)
-
Taxpayer Advocate Service (TAS)
-
Tax Exempt and Government Entities (TE/GE)
-
-
Program Goals: Correct any errors that are identified using the Error Resolution System (ERS).
-
The operating divisions established National Service Level Agreements (SLAs). This document contains specifics regarding SLAs that pertain to activities performed by use of this IRM.
-
The operating divisions established Service Level Agreements (SLAs). This document contains specific information on SLAs on activities that this IRM’s users do.
-
The Taxpayer Advocate Service (TAS) is an independent organization within the Internal Revenue Service (IRS), led by the National Taxpayer Advocate. Its job is to protect taxpayers’ rights by striving to ensure that every taxpayer is treated fairly and knows and understands their rights under the Taxpayer Bill of Rights (TBOR). TAS offers free help to taxpayers, including when taxpayers face financial difficulties due to an IRS problem, when they are unable to resolve tax problems they haven’t been able to resolve on their own, or when they need assistance to address an IRS system, process, or procedure that is not functioning as it should. TAS has at least one taxpayer advocate office located in every state, the District of Columbia, and Puerto Rico.
-
TAS uses Form 12412, Operations Assistance Request (OAR), to start the OAR process of referring a case to the Taxpayer Services (TS) Division, to affect the resolution of the taxpayer’s problem. For more information, refer to IRM 13.1.19, TAS Operations Assistance Request (OAR) Process.
-
Refer taxpayers to TAS when the contact meets TAS criteria or when Form 911, Request for Taxpayer Advocate Service Assistance (and Application for Taxpayer Assistance Order), is attached and steps cannot be taken to resolve the taxpayer’s issue the same day.
-
The definition of "same day resolution" is within 24 hours. The following two situations meet the definition of "same day resolution" :
-
The issue can be resolved within 24 hours.
-
IRS takes steps within 24 hours to resolve the taxpayer’s issue.
-
-
When making a TAS referral, use Form 911 and forward to TAS following your local procedures.
-
See IRM 13.1.7, Taxpayer Advocate Service (TAS) Case Criteria, for more information.
-
The Taxpayer Advocate reached agreements with the Commissioners or Chiefs of the Tax Exempt Government Entities (TE/GE), Taxpayer Services (TS), Small Business/Self Employed (SB/SE) Division, Criminal Investigation (CI), Independent Office of Appeals, and Large Business and International (LB&I) that outline the procedures and responsibilities for processing Taxpayer Advocate Service (TAS) casework when either the statutory or delegated authority to complete case transactions rests outside of TAS. These agreements are known as Service Level Agreements (SLAs). SLAs contain basic requirements for handling TAS-referred cases, and includes specific actions to take on TAS referrals and specific time frames to complete those actions.
-
The SLAs are found at https://irsgov.sharepoint.com/sites/TAS/SitePages/SLA.aspx
-
Error Resolution Systems (ERS) examiners use the instructions in this subsection to correct errors made by:
-
Taxpayers
-
Their representatives
-
Tax Exempt Bond (TEB) Submission Processing Center operations, which is centralized at the Ogden Campus.
-
-
Follow these procedures for correcting tax exempt bond form errors on screen display. If there’s a conflict of instructions between general and specific instructions, follow specific procedures.
-
These forms are filed and processed only at the Ogden Submission Processing Campus (OSPC).
-
Records appear on ERS inventory because of validity, consistency, and math, and/or input error. There are no math error checks in this IRM.
-
To expedite resolution, you can call the filer to resolve problems with ERS inventory.
-
To use this IRM, you must also be familiar with:
-
IRM 3.11.26 , Miscellaneous Tax Exempt and Government Entities (TE/GE) Returns, which provides document perfection (Code and Edit) procedures.
-
IRM 3.24.26, Miscellaneous Tax Exempt and Government Entities (TE/GE) Returns, for DIS input of the ISRP system, and
-
IRM 3.12.38, ERS General Instructions.
-
-
Records are placed into Error Resolution or Rejects inventories for correction.
-
Once a record is accessed and displayed on the screen, resolve it any of these ways:
-
Fully correct the record.
-
Place the record in suspense until additional information is received.
-
Reject the record from pipeline processing.
-
-
Corrections include correcting errors in editing, transcription or taxpayer errors. Perform any instruction for completing a correspondence action sheet and annotating the missing item(s) by checking the box next to the reason if present on the action sheet, or by writing out the reason in an open paragraph if the IRM states to use the open paragraph.
-
In the header portion of each record, the error screen displays will show:
-
Document Locator Number (DLN),
-
Employer Identification number (EIN),
-
Name Control or Check Digit
-
-
Before you make corrections to the error screen displays, verify that the DLN of the display matches the DLN of the document.
-
If you determine that a "mixed data" situation exists, stop processing and give the block of work to your manager. Management will either:
-
Determine if the mixed data can be corrected via the terminal screen display.
-
Take action to have the block deleted and re-entered.
-
-
When making corrections to the screen display, be sure money amounts within a subsection have been transcribed in dollars only, or in dollar and cents according to the requirements shown in the instructions for each subsection.
-
You may use these procedures when the TE/GE Submission Processing Program & Oversight staff analyst with oversight approves them:
-
Any instructions written at the campus (i.e., desk procedures) to clarify the IRM 3.12.26, Tax Exempt Bond Error Resolution Procedures.
-
Paragraphs created at the campus when the IRM doesn't request an open paragraph be used.
-
-
Our goal is to achieve consistency in the Business Master File (BMF) ERS processing IRMs.
-
Cincinnati, Ogden, and Paper Processing Branch BMF Code & Edit/ERS Section coordinate the effort to identify topics for BMF Consistency.
-
BMF Consistency subsections in this IRM are identified by a "♦" (diamond) before and after the subsection title.
-
Text in normal print is the common process for BMF returns. The text in bold print is form specific and applies to this IRM only.
-
The Tax Reform Act of 1986 required:
-
Issuers of: tax exempt bonds, Build America Bonds, Recovery Zone Economic Zone Bonds and Specified Tax Credit Bonds, collectively with tax exempt bonds know as tax-advantaged bonds, to file information returns with the IRS after December 31,1986.
-
That municipal bonds meet certain rules for the interest received by the bondholders to be exempt from federal income tax.
-
-
The table below provides the specific form type, MFT, Document Code (Doc. Code) and valid Report Number range as they apply to each TEB return. The Tax Class for all TEB returns is "3" . The Doc. Code in the Document Locator Number (DLN) defines which form it specifically relates to.
Form MFT Doc. Code Report Number 8038 46 61 100 - 199 8038-B 85 85 100-499 8038-CP 46 88 -
200 - 299
-
400 - 499
-
800 - 899,
8038-G 46 62 300 - 399 8038-GC 46 72 500 - 599 8038-T 46 74 700 - 799 8038-TC 86 86 100 - 499 8328 46 75 900-999 8703 84 01 100 - 999 -
-
Form 8038, Information Return for Tax Exempt Private Activity Bond Issues, is used by the issuers of tax exempt qualified private activity bonds to provide the IRS with the information required by Section 149(e) and to monitor the requirements of Section 141 through 150.
-
Form 8038-B,Information Return for Build America Bonds and Recovery Zone Economic Development Bonds, is used to report Build America Bonds and Recovery Zone Economic Development Bonds to provide the IRS with information required by Section 149(e).
-
Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds, is used by issuers of bonds who elect to receive a direct payment pursuant to IRC 6431.
-
Form 8038-G,Information Return for Tax Exempt Government Purpose Tax-Exempt Bond Issues, is used by issuers of tax exempt governmental bonds of $100,000 or more, to provide the IRS with information required by Section 149(e).
-
Form 8038-GC, Information Return for Small Tax Exempt Governmental Bond Issues, Leases, and Installment Sales, is used by issuers of tax exempt governmental bonds of less than $100,000, to provide the IRS with information required by Section 149(e).
-
Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate, is used by issuers of tax exempt bonds when paying arbitrage rebate (or penalty in lieu of rebate) to the United States as required under Section 148(f), or the corresponding provisions of the 1954 Code; or to make a yield reduction payment in accordance with Section 1.148-5(c) of the Regulations. Payments may be made by a person acting on behalf of the Issuer for bonds subject to Section 103(c)(6)(D) of the 1954 Code. Under Section 148(f), interest on a state or local bond isn't Tax Exempt unless the Issuer of the bond rebates to the United States on Form 8038-T, arbitrage profits earned from investing proceeds of the bond in higher yield nonpurpose investments.
-
Form 8038-TC, Information Return for Tax Credit and Specified Tax Credit Bonds as the result of the new Hire bill, is used by the issuers of qualified private activity bonds to provide the IRS with the information required by Section 149(e).
-
Form 8328, Carryforward Election of Unused Private Activity Bond Volume Cap, is used by the issuing authority of private activity bonds to elect to carry forward its unused volume cap for one or more carry forward purposes (see Section 146(f)). Form 8328 may also be used by a state to carryforward the unused volume cap under Section 142(k).
-
Form 8703, Annual Certification of a Residential Rental Project, is used by an operator of a residential rental project to provide annual information the IRS will use to determine whether a project continues to be a qualified residential rental project under Section 142(d). If so, and certain other requirements are met, bonds issued in connection with the project are considered "exempt facility bonds" and the interest paid on them isn't taxable to the recipient.
-
Municipal Bonds can be classified as tax exempt (government or qualified private activity bonds) or taxable (other private activity bonds).
-
Municipal bonds may be issued as governmental bonds or non-governmental bonds. Some non-governmental bonds are also called "qualified private activity bonds" . The following identifies a few bond categories:
-
Governmental Bonds are issued to finance governmental activities of a state or local government. That is, the government entity uses the bond proceeds for its own purposes. Certain lease arrangements may be treated as tax exempt bonds when the lease transaction is treated as a conditional sales contract.
-
Qualified Private Activity Bonds are issued by state and local governments. The facilities financed with the bond proceeds can be owned and operated by non-governmental entities for limited purposes specified in IRC 142(a), 143, 144, and 145.
Code Section Examples IRC 142 exempt facility bonds -
Airports
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Docks and wharves
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Mass commuting facilities
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Facilities for the furnishings of water
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Sewage facilities
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Solid waste disposal facilities
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Qualified residential rental projects
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Facilities for the local furnishing of electric energy or gas
-
Local heating or cooling facilities
-
Qualified hazardous waste facilities
-
High-speed intercity rail facilities
-
Environmental enhancements of hydroelectric generating facilities (142(a))
-
Qualified public educational facilities
-
Qualified green building and sustainable design projects
-
Qualified highway or surface freight transfer facilities.
IRC 143 bonds -
Qualified Mortgage Bonds
-
Qualified Veteran's Mortgage Bonds
IRC 144 bonds -
Qualified Small Issue Bonds
-
Qualified Student Loan Bonds
-
Qualified Redevelopment Bonds
IRC 145 bonds Qualified IRC 501(c)(3) bonds -
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Pooled financing may involve proceeds of governmental bonds or certain types of private activity bonds. In a pooled financing, the issuer loans proceeds from the bonds to more than one borrower. The borrower of the proceeds may be tax exempt organizations or other state or local governments.
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Registered Warrants are a short-term obligation (30 - 60 day bond) of a municipality.
-
Commercial Paper Bonds are a short term bond having a maturity date of 270 days or less. These bonds are issued pursuant to a commercial paper program that is treated as part of a single issue.
-
Commercial Paper Program is a program to issue commercial paper to finance or refinance the same governmental purpose pursuant to a master legal document.
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The Liberty Bond is due to the September 11, 2001 terrorist attack. The IRS provided guidance (Notice 2002-42 2002–27 IRB 36) on the effects of various tax benefits that were enacted for areas of New York City. IRC 1400L(a) provides for a new targeted group for the Work Opportunity Tax Credit (WOTC): New York Liberty Zone business employees. The new targeted group includes individuals who perform substantially all of their services in the New York Liberty Zone (NYLZ), and may include individuals who perform substantially all of their services elsewhere in New York City for a business that relocated from the NYLZ due to the physical destruction or damage of its workplace within the NYLZ by the September 11, 2001 terrorist attack.
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Lease Installment Sales are unconditional sales agreements under which a municipal government leases equipment that it acquires at the end of the lease period.
-
Promissory Notes are interest-bearing certificates of governments that come due in a shorter time than bonds. Municipal notes have maturities up to approximately one year.
-
Lines of Credit are pre-approved loans where the municipality draws down money as it's needed. The loans have specified dollar limits, terms and interest rates.
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Green bonds are issued to finance projects designated by the Secretary after consultation with the Environmental Protection Agency Administrator. Green building and sustainable design projects must meet certain eligibility requirements.
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The Gulf Opportunity Zone Bond is due to the Hurricane Katrina disaster area determined by the President to warrant individual or individual and public assistance from the federal government. The IRS provided guidance (Notice 2006-41 2006–18 IRB 857), which authorizes the states of Alabama, Louisiana, and Mississippi to issue certain exempt facility bonds and qualified mortgage bonds pursuant to IRC 1400N(a). Gulf Opportunity Zone Bonds must be issued before January 1, 2011. Notice 2006-41 also provides guidance on Gulf Opportunity Zone Advance Refunding Bonds that are permitted to be issued under IRC 1400N(b).
-
-
Bonds are an "obligation" of any state or political subdivision thereof. Obligation means any valid evidence of indebtedness under general federal tax principles. Obligations are not limited to bonds or other securities but may also include written contracts such as installment sales contracts and loans to a municipality.
-
To be an obligation, money must be borrowed by a governmental entity, used for governmental or qualified purposes, and there must be an obligation to repay.
-
Income from certain obligations of states and their political subdivisions may likewise be excluded from gross income. Such obligations include:
-
Installment sales contracts
-
Equipment leases
-
Bank loans
-
-
Use these definitions throughout this IRM:
TERM DEFINITION ARBITRAGE The purchase and sale of the same or equivalent security in order to profit from price differences. The term arbitrage applies to all types of investments. CUSIP An acronym for Committee on Uniform Securities Identification Procedures. Issuers obtain CUSIP numbers for their Municipal Bonds. Date of Issue This is usually the date on which the Issuer physically exchanges the bonds that are part of the issue for the underwriter's (or other purchaser's) funds. It might also be the date the interest starts to accrue, if this obligation is for a lease or installment sale. IRC An acronym for Internal Revenue Code. Issuer The name of the entity issuing or selling the bonds, not necessarily the name of the entity receiving the benefit of the financing. Maturity Date The date on which the entire outstanding principal of the bond must be paid to the bondholder. Report Number A unique three digit number the IRS assigns to the bond issue to differentiate individual bond returns and to comply with programming requirements. TAS An acronym for Taxpayer Advocate Service. TEB An acronym for Tax Exempt Bond. Willful Neglect Conscious, intentional failure to comply with the provisions of the IRC, or reckless indifference to such provisions. Debt Service Schedule The debt service schedule provides various information such as interest amounts, subsidy payments, and dates. It’s a required attachment to Form 8038-B, Form 8038-CP and Form 8038-TC (when required). FAST Field Assistance Support Team (replaces GECU)
-
ERS identifies the error according to type and priority. The record heading will show the type of error.
-
This IRM gives procedures to use in resolving the displayed errors. However, there may be records where you find that programming hasn’t given a section or field needed to resolve an error. Report this to the Headquarter analyst for correction.
-
Enter the section using CC "GTSEC" , and the missing data.
-
Priority I (Action Code (AC) Errors): When an AC is assigned to a return, it displays as a Priority I error.
-
Priority II (Section Errors): An error detected by the Service Center Recognition/ Image Process System (SCRIPS) or Integrated Submission and Remittance Processing System (ISRP) displays as a Section Error.
-
An alpha transcribed in a numeric field or vice versa and a section with variable-length fields containing an erroneous-size field displays as a terminus section error.
-
Priority III (Field Validity Errors): Any field failing to meet the requirements that displays as a Priority III error.
-
Priority IV (Error Code -(Math and Consistency Errors) - When a record is assigned an error code because of a math error.
-
-
All records assigned an incorrect action code are displayed as a Priority I error. Errors and correction procedures are explained in this subsection:
-
If the AC is valid (except 001), it’ll be placed in the reject inventory.
-
If the AC is invalid or is 001, it’ll be placed in the error inventory.
-
-
There are two types of Priority II Errors: "ISRP" and "TERMINUS" Errors. Error and correction procedures are explained in this subsection.
-
An" ISRP" error is detected by the Integrated Submission and Remittance Processing.
-
The display for the ISRP error includes the code identifying the type of ISRP error.
-
"1" - Split screen transmission, Key Verifier attempted to change Check Digit, Key Verifier changed 4 or more digits of a TIN, or the Original Entry operator entered required section as missing.
-
"3" - Invalid section ending point.
-
"4" - Invalid field length.
-
"Questionable Section" - The ISRP operator input the same section more than once or entered out of sequence by ISRP. The computer program will drop all duplicate sections and display on the error register the first one encountered.
-
-
When displayed, ISRP errors will display all input fields of the section in error, except for the Remittance in Section 01. Transcribed data will be present. Computer-generated data will not be present.
-
Check all fields of the section and verify that fields are entered as coded.
-
If no correction is needed, or once the section is correct, drop to the bottom of the screen and transmit.
-
If the section needs to be deleted, enter Command Code "DLSEC" with the section number.
-
-
A "terminus" error occurs when a section with variable-length input fields contains an erroneous-sized field.
-
When displayed, a terminus error will show all input fields of the terminus section.
-
Transcribed data is present.
-
Computer generated fields or remittance field for Section 01 won’t be present.
-
-
Examine and make necessary corrections to all fields present for the section.
-
If the section needs to be deleted, use command code DLSEC to delete the section.
-
If no correction is required, drop to the bottom of the screen and transmit.
-
Definition: Any field that doesn’t meet the requirements for that field will be shown as a "Priority III" Error. Some reasons for this type of error include:
-
Non-alphabetical character in an alpha field
-
Blank space in a numeric field.
-
Blank in the first position of an alpha field.
-
Non-numeric character in a numeric field.
-
A required field is blank.
-
-
All fields with a Priority III error will be displayed in the order encountered in the record.
-
This chapter lists the fields, errors and correction procedures for Priority III errors for the following forms.
-
Form 8038
-
Form 8038-B
-
Form 8038-CP
-
Form 8038-G
-
Form 8038-GC
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Form 8038-T
-
Form 8038-TC
-
Form 8328
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Form 8703
-
-
Unless otherwise stated, the fields are valid for the above forms.
-
Action Code 001 is computer generated when the BOB Resolution Function adds a missing document by inputting only the TIN and Name Control for the missing document:
-
All data must be entered.
-
GTSEC ALL sections and
-
Enter ALL necessary data.
-
-
The letter "C" is used as a "clear field" for error codes (consistency errors) when the invalid condition doesn't require a change or correction to the record as displayed. The display will include a clear field, labeled "CL" to indicate the possible need of a clear field.
-
Error codes that need a clear field are cleared by either correcting the condition or entering a "C" to indicate no correction is needed.
-
Clear field "C" is also used for clearing the action codes after corrections for the AC have been completed.
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""000" " is also used as a clear field when deleting an action code. It will only be used for erroneous action codes when you have determined there is no reason to suspend the record ("000" can’t be used in Reject correction).
-
Programming erases all "C" clear fields for error codes when a record is suspended with the command code "SSPND" .
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Programming erases all "C" clear fields for error codes and action codes for the new day's error and workable suspense inventories.
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Error codes (including the ones which may require a "C" clear field) are numbered consecutively in order for correcting.
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Perfect, if possible, through research or taxpayer contact, any document on which entries are erroneous, incomplete or missing, and continue processing.
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If a correspondence letter is returned as undeliverable, compare the address on the letter with the address on the return.
-
If different, re-send the letter to the address on the return.
-
If the same, research INOLES for a different address.
-
-
If the address on INOLES is different or there is a location address, re-send the letter to the new address.
-
If the address on INOLES is the same as the return, and no better address can be found, treat as a no reply.
-
If the letter is undeliverable a second time using the new address, treat as a no reply.
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If the taxpayer doesn't reply to a request for information, enter CCC "3" .
-
If perfection isn't possible, initiate action to void the DLN and the return "Canceled to Files" . If a remittance is involved, transfer to the "6400, Miscellaneous Revenue Collections" account.
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A return that’s discovered to be unprocessable on initial input after being blocked or numbered and is subsequently believed to be processable is a re-entry document. The following describes the reasons for re-entry:
-
Document that was discovered to be unprocessable after it was blocked and numbered will be considered to be a re-entry document when It's input after the correction.
-
Document was unpostable on initial input, and the unpostable situation can only be corrected by re-input of document.
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Document posted to wrong account or module, and the document must be re-entered to post to the proper account or module.
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-
Each block of re-entry documents must have a Form 3893, Re-entry Document Control. If Form 3893 is missing information, return the document or block to the Receipt and Control area. Always leave the Form 3893 on the front of the return or block. It must remain as a permanent part of the document.
-
Form 3893 is used for re-input control of a document under its original DLN.
-
If a single document is being re-input, Form 3893 will be attached to the face of the document.
-
If more than one document from the same original block is being re-input, Form 3893 will be attached to the first document in the re-input block.
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Pursuant to the requirements of the Balanced Budget and Emergency Deficit Control Act of 1985, as amended, certain automatic reductions took place on March 1, 2013. These required reductions include a reduction to refundable credits under Internal Revenue Code Section 6431 applicable to certain qualified bonds. As a result, the refundable credit payment for FY 2023 is reduced by 5.7%. The sequestration reduction rate will be applied until the end of the fiscal year (September 30, 2030) or intervening Congressional action, at which time the sequestration rate is subject to change.
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During annual implementation of the revised sequestration percentage rate, it will be necessary to hold all Form 8038-CP until the new rate is programmed. This normally occurs in September and October. SERP Alerts will be issued providing specific dates when the time approaches. Code and Edit will follow normal procedures in editing the returns. Upon completion, the C&E clerk will record all pertinent information onto an Excel spreadsheet and provide it to the SP P&A analyst who has oversight of Rejects. The P&A analyst will monitor the returns to ensure credit payments are refunded prior to the Interest Payment Date (IPD).
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When a manual refund is required during the hold in order to meet an IPD or prevent payment credit interest, the applicable sequestration percentage rate must be determined. The applicable rate is based on the date the manual refund (Form 3753 or Form 5792) is signed.
Caution:
The date the new percentage rate is effective varies annually based on the last day of the cycle the programming is completed (i.e., last day of cycle 202040 is 10/01/2020). As such, manual refunds dated prior to 10/01/2020 would be calculated at the FY 2020 sequestration rate of 5.9%. Manual refunds dated 10/02/2020 & subsequent would be computed at the FY 2021 revised 5.7% rate. For FY 2023, the sequestration rate did not change.
Note:
Due to the Campus shutdown resulting from the COVID-19 pandemic, all Form 8038-CP with a RRD prior to October 1, 2020, must have the sequestration rate computed at 5.9% regardless of when the manual refund is signed. If the credit payment amount is under ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ and RRD is prior to October 1, 2020, allow refund to systemically generate.
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If it is determined that a manual refund is required, the originator must research IDRS to make certain a computer-generated refund will not be issued. In addition to the procedures outlined below, which are unique to Form 8038-CP, general manual refund information must be followed and can be found in IRM 3.12.38.5.4 and IRM 21.4.4.
-
If a manual refund is required due to:
-
the annual sequestration rate revision hold in order to meet a pending IPD,
-
the 45-day jeopardy period, or
-
the credit payment is over ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ dollars,
then the credit payment must be manually computed to determine the correct reduced refundable amount. Offsets must be taken into consideration.
-
-
An excel spreadsheet with the sequestration computation formula is provided annually from the TE/GE HQ Program analyst to the Campus in order to determine the correct credit payment amount. This computation spreadsheet must be used when manually computing the sequestration amount. A copy of the sequestration excel computation, the ACT/DMI interest computation (if applicable) and the manual refund documents (Form 3753/Form 5792) must be attached to the Form 8038-CP.
-
The refundable credit amount is computed manually by:
-
Subtracting tax, penalties and interest from the original credit payment amount on line 22, if applicable. This is the recomputed line 22.
-
Reduce the original or recomputed line 22 (step a) above) by the applicable rate. Subtract the sequestered amount (line 22 multiplied by rate) from the original or recomputed credit payment.
-
Subtract all offsets or credit elects (if applicable) from the original or recomputed line 22 amount.
-
The results will be the correct credit amount to be refunded.
-
-
Prepare manual refund using applicable Form 5792 or Form 3753 (refer to IRM 3.12.38).
-
In the remarks section of the Form 5792, indicate "Credit payment amount is reduced by applicable sequestration rate" .
-
If the manual refund is due to the sequestration hold, edit CCC "O" on the return to prevent a duplicate erroneous refund from generating when the return is processed. Attach a copy of the sequestration computation and manual refund documentation (Form 3753 or Form 5792) to the return.
-
If credit interest is applicable, it must be calculated on the reduced credit payment amount and not on the original amount claimed by the filer.
-
Copies of both the sequestration rate Excel computation spreadsheet and Form 8038-CP with "Copy Do Not Process" annotated on the return must be attached to the manual refund documentation.
-
-
Additional research may be required to ensure a prior refund wasn’t issued for the same tax period and report number as shown on the Form 8038-CP. If it appears a return and refund has previously posted to the tax period and report number, contact FAST via e-mail to determine if a different report number should be assigned. Also alert the P&A ERS/Rejects analyst so feedback can be provided to the HQ analyst and FAST management. Prepare manual refund on sequestered amount.
-
During the normal processing and sequestration hold periods, manual refunds over ≡ ≡ ≡ ≡ ≡ ≡ ≡ must not be refunded unless it is within three weeks of the Interest Payment Date (IPD).
-
Form 3753 is designed for non-IDRS input. This form can be used when refunds are:
-
≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ or more
-
Direct deposit is necessary
-
Manual refund is generated to a different address
-
-
Form 3753 will be prepared in triplicate. Two copies must be forwarded to the Manual Refund Function along with copies of the supporting documentation. Accounting will reject the Form 3753 if the document contains any alterations such as white out, strike through or correction tape.
-
The following are line-by-line instructions for completing Form 3753. The DLN block is completed by the Accounting Function. Complete the "From and Return to" box with the initiator’s information.
Section 1, Block 1, enter EIN of the account from which the refund will be issued (Part I, line of Form 8038-CP. Block 2, enter the return period in YYYYMM format Block 3, enter the MFT Block 4, enter the Report number Block 5 and 6, will be completed by Manual Refund Unit. Block 7, enter name and address of entity as shown on Master File. Block 8, enter the return form number (Form 8038-CP). Block 9, enter "Not Processed" Block 10b, enter amount of check. (TC 770 plus amount of overpayment). Block 10d, enter TC 770 with amount of allowable interest. Block 11, complete this block if the payee is other than the taxpayer or the refund is being issued to a different address. Difference must be explained in Section IV. Block 12a and 12b, used only when completing Form 3753 for Credit Card Charge-back, by the Manual Refund Unit or by other IRS Offices/Agencies that require funds to be withdrawn from specific Treasury Accounts. Block 13, enter amount of overpayment. The amount being refunded less allowable interest. Block 14, ULC - leave blank for Form 8038-CP. Block 15, enter line number 65. For complete list, refer to Exhibit 12 in IRM 2.4.20, Command Codes RFUND and REFAP. Section II, Check all applicable boxes. Enter IRM reference 21.4.4 in Block 1 c and enter Form "8038-CP" in Block 1 d. Enter By Pass Indicator 0. Section III, Enter interest computation and attach IDRS interest computation screen. See IRM 21.4.4.4(5) for requirements on interest computations on manual refunds of $1 million or more. Refer to IRM 20.2, Interest, for methods of computing interest. Section IV, Enter additional information (e.g. Form 8038-CP, RPT #, cross reference EINs or RPTs). Section V, Blocks 1 and 2, the Approving Official must sign and print their name and title. The Approving Official must be on the authorized list maintained by the Manual Refund Unit in the Accounting Function. Blocks 3, 4 and 5, enter name, IDRS number, badge number, date, and phone number of the originator of the request -
When issuing a manual refund to a person or address other than that of the entity as shown on Master File, input a TC 971 with Action Code 037.
-
Place completed Form 5792 or Form 3753 in the designated basket for review and signature of approving official. Refer to IRM 21.4.
-
The Form 5792 is used with CC RFUND to request an IDRS refund. This form must be used when the credit payment is less than ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡. Use the latest revision of the Form 5792. The Form 5792 will be prepared in triplicate. Two copies must be forwarded to the Manual Refund Function along with copies of the supporting documentation. The case file must be sent to the Accounting Function the same processing day the CC RFUND is input. Accounting will reject the Form 5792 if the document contains any alterations such as white out, strike through or correction tape. See IRM 21.4.4.5.1, Monitoring Manual Refunds, for controlling and monitoring requirements.
-
The following are line-by- line instructions for completing Form 5792 when issuing a manual refund for a Form 8038-CP account.
Section I, Block 1 enter the Taxpayer Identification Number (TIN) and File Source of the account from which the refund will be issued Block 2, enter the Master File Tax Code and Report Number (MFT 46/8XX) Block 3, enter the tax period as YYYYMM Block 4, enter the report number Block 5, enter the name control Block 6, enter the TC 840 amount (overpayment, plus allowable interest) Block 7, enter the TC 770 amount (allowable interest). If no interest is being computed, enter 0. Block 8, enter the overpayment amount. The amount being refunded, less allowable interest Block 9, enter the appropriate line number. For Form 8038-CP use 65 (refer to Exhibit 12 in IRM 2.4.20, Command Codes RFUND and REFAP for complete list.). Block 10, interest indicator must be entered. If interest is paid, an interest "from" date is required. -
Use "0" (zero) for no interest
-
Use "N" for normal interest when interest is payable.
-
Use "R" for restricted interest.
See IRM 20.2, Interest, for interest computation.Blocks 11, 12 and 13, leave blank Blocks 14-19, enter the name and address of the entity as shown in Part I of Form 8038-CP. Print using capital, block letters. Block 20, annotate reason for the refund in the remarks field. Be specific. Include all pertinent information (i.e., Form 8038-CP refund, credit payment amount, RPT #, refund issued to a different address, etc.) Block 21, enter the initiating Business Operating Division (BOD) Block 22, enter "Return not processed" Block 23, check if the account has a bankruptcy indicator. Block 24, check if the account contains a TC 130. Section II, Check all applicable boxes and enter IRM reference 21.4.4 in Block 1 c. Section lll, the preparer must compute all interest for the TC 770 amount. Be sure to attach a copy of the COMPA print to the Form 5792. Large dollar manual refunds of $1 million or more that contain credit interest, must be reviewed and approved by the Technical Unit. See IRM 21.4.4.4(4), Preparation of Manual Refund Forms. Section IV Block 1, leave blank. This is completed by the employee inputting the CC RFUND. Blocks 2 and 3, enter the name and employee IDRS #, or the Badge number, and phone number of the initiator of the request. The employee inputting CC RFUND may or may not be the person requesting the manual refund. Blocks 4, 4a, and 5, the Approving Official who signs the refund must be on the Authorized Signature List maintained by the Manual Refund Unit in the Campus Accounting Function. The official will sign in Block 4, print their name in Block 4a, and enter the date in Block 5. -
-
When issuing a manual refund to a person or address other than that of the entity as shown on Master File, input a TC 971 with Action Code 037.
-
Place completed Form 5792 or Form 3753 in the designated basket for review and signature of approving official. Refer to IRM 21.4.
-
The Form 8038-CP is the only TEB return that has a statute of limitation (SOL). If a return meets statute criteria, the Field Assistance Support Team (FAST) will edit "SOL" or annotate "Statute of Limitations" in green, in the top margin of the Form 8038-CP during their initial review of the return. Additionally, FAST must edit CCC "X" on all statute returns.
-
If FAST and/or Code and Edit fails to identify a statute return and you determine the Form 8038-CP meets statute criteria, edit CCC "X" on the return to hold the credit and follow normal statute guidelines.
-
Before you route the return to Statutes for review and clearance, send a scanned copy of the edited return to FAST via secured e-mail as outlined below.
-
The ERS/Reject lead (or back-up) sends a secure e-mail to FAST.
-
Attach a scanned copy of the Form 8038-CP to the secure e-mail indicating it’s an "SOL" return.
-
Copy (cc) these individuals on the e-mail:
- FAST manager
- ERS/Rejects OSPC P&A analyst
- TE/GE HQ analyst with oversight of the TEB program
-
-
A statute of limitation exists when the Interest Payment Date is three years before the IRS stamped received date or postmark date.
-
If a return meets the above conditions and doesn’t have a "Statute Cleared" indication, complete and attach a Form 3210 and give to lead who will route it to Statutes for clearance.
-
Edit CCC "W" if the return has been cleared by Statute Control Unit. Statute will stamp or indicate clearance on the front of the return.
-
Do not correspond for missing/incomplete information on a statute return.
-
Effective January 01, 2022, STEX transcripts will generate to the Statute unit for resolution.
-
This subsection provides field descriptions and instructions for correcting error and reject conditions for:
-
Form 8038-,
-
Form 8038-B,
-
Form 8038-G,
-
Form 8038-GC,
-
Form 8038-T,
-
Form 8038-TC and
-
Form 8328,
-
Form 8703
-
-
Listed below are the fields contained in Section 01 showing the Field Designator, Title, Field Location on the return, and the Maximum Length:
Field Title Form 8038 & Form 8038-G Form 8038-B Form 8038-GC Form 8038-T Form 8038-TC Form 8328 Form 8703 Field Lengths RMIT Remittance Amount N/A N/A N/A Blue or Green Money Amount N/A N/A N/A 11 01NC Name Control Part I, Line 1 Part I, Line 1 Part I, Line 1 Part I, Line 1 Part I, Line 1 Part I Part I 4 >>>> Name Control under print 4 01EIN Employer Identification Number Part I, Line 2 Part I, Line 2 Part I, Line 2 Part I, Line 2 Part I, Line 2 Part I Part I 9 01TXP Tax Period Not edited, populated from Part I, Line 7, Date of Issue Not edited, populated from Part I Line 7, Date of Issue Top right side of return Not edited, populated from Part I Line 6, Date of Issue Not edited, populated from Part I, Line 7, Date of Issue To right side of return To right side of return 6 01RPT Report Number Part I, Line 5 Part I, Line 4 Part I, Line 5 Part I, Line 4 Part I, Line 4 Part I Part I 3 01CCC Computer Condition Code Part II, dotted portion of Line 11a - Form 8038, or Line 11 for Form 8038-G Part II, dotted portion of Line 1a Part II, dotted portion of Line 8a Part II, dotted portion of Line 12 Part III, dotted portion of Line 1 Part II, dotted portion of Line 1 Part II, dotted portion of Line 5 10 01RCD Received Date Center of Return Center of Return Center of Return Center of Return Center of Return Center of Return Center of Return 8 01CRD Correspondence Received Date Right of Line 7 Entity Section, lower portion Right of Line 6 Right of Line 7 Entity Section, lower portion Right of City, State and ZIP Code Line Right of Line 10a 8 01NM1 Issuers Name Part I, Line I Part I, Line 1 Part I, Line 1 Part I, Line 1 Part I, Line 1 Part I N/A 35 01NM2 Issuers Second Name Line Undefined Undefined Undefined Entity Section Undefined Undefined N/A 35 01CON In Care of Name Line Undefined Part I, Line 3 Undefined Entity Section Part I, Line 3 Undefined N/A 35 01FAD Foreign Address Undefined Undefined Undefined Entity Section Undefined Undefined Undefined 35 01ADD Street Address Part I, Line 4 Part I, Line 5 Part I, Line 3 Part I, Line 3 Part I, Line 5 Part I Part I 35 01CTY City Part I, Line 6 Part I, Line 6 Part I, Line 4 Part I, Line 5 Part I, Line 6 Part I Part I 22 01ST State Part I, Line 6 Part I, Line 6 Part I, Line 4 Part I, Line 5 Part I, Line 6 Part I Part I 2 01ZIP ZIP Code Part I, Line 6 Part I, Line 6 Part I, Line 4 Part I, Line 5 Part I, Line 6 Part I Part I 12 01INM Name of Issue Part I, Line 8 Part I, Line 8 N/A Part I, Line 5 Part I, Line 8 N/A N/A 35 01DTI Date of Issue Part I, Line 7 Part I, Line 7 Part II, Line 8b Part I, Line 6 Part I, Line 7 N/A N/A 8 01CUS CUSIP Number Part I, Line 9 Part I, Line 9 N/A Part I, Line 8 Part I, Line 9 N/A N/A 12 01CAF CAF Indicator (Not Edited) Part 1, Lower Left Margin (Not Edited) Part 1, Lower Left Margin (Not Edited) Part 1, Lower Left Margin (Not Edited) Part 1, Lower Left Margin (Not Edited) Part 1, Lower Left Margin (Not Edited) Part 1, Lower Left Margin (Not Edited) Part 1, Lower Left Margin 1 01SIG Signature Code N/A N/A N/A N/A N/A N/A Part IV, right margin 1 01PRE Preparation Code N/A N/A N/A N/A N/A N/A Part IV, right margin of the Preparer SSN/PTIN line 1 01PSN Preparer SSN/PTIN N/A N/A N/A N/A N/A N/A Part IV, Signature Block 9 01PEN Preparer EIN N/A N/A N/A N/A N/A N/A Part IV, Signature Block 9 01PTN Preparer Telephone # N/A N/A N/A N/A N/A N/A Part IV, Signature Block 10 -
To determine the current form revision, refer to the table below and correct accordingly. If a form is received with a revision date prior to the date shown below, renumber the return using the Return Conversion chart (Exhibit 3.12.26-3, Prior Year Conversion Chart).
Form Latest Revision Date 8038 02-2022 8038-B 01-2010 8038-CP 01-2022 8038-G 10-2021 8038-GC 10-2021 8038-T 10-2021 8038-TC 11-2012 8328 08-2022 8703 12-2021
-
Field length - 11 positions.
-
Field RMIT> is the amount of remittance submitted with the return. It's dollars and cents and is the blue/green edited money amount. The field can't be changed by Error Resolution.
-
Field length - 4 positions
-
Field 01NC, Name Control, is edited (underlined) from Part I.
-
This field must have 1 to 4 characters (alpha, numeric, ampersand, hyphen).
-
This field may have 1 to 3 blanks.
-
The name control is validity checked.
-
The name control is invalid if it has any of these:
-
The 1st position is other than a letter or number, or
-
The 2nd, 3rd and 4th positions contains characters other than letters, numbers, ampersands (&), hyphens (-), blanks,
-
Any character follows a blank.
-
-
To determine the correct name control, see IRM 3.13.2, BMF Account Numbers.
-
Line through the entry in Field 01NC and enter the correct name control above it. If the name control contains fewer than 4 characters, enter and circle the number of positions remaining.
-
The name control under print is designed to reduce the number of unpostables that occur when the transcribed name control doesn't match with the name control for the EIN on the Entity Index File (EIF).
-
The name control under print will be removed when the following occurs:
-
The name control under print and the entry in Field 01NC agree.
-
-
Compare the entries in Fields 01NC and 01EIN with the return to determine the correct action.
If Then the EIN on the return and EIN in Field 01EIN do not agree, correct Field 01EIN to agree with the return. the name control on the return and Field 01NC do not agree, and/or the name control was transcribed incorrectly, change Field 01NC to agree with name control under print. correction doesn't agree with the name control under print, SSPND 320 to Entity. the name control edited on return agrees with Name Control in Field 01NC, and the name is illegible or coded wrong, change Field 01NC to agree with name control under print. no obvious error, research using INOLE, NAMEE, or NAMEB another EIN is found for the entity on the return, change Field 01EIN to the correct EIN. taxpayer merely rearranged name on return, change Field 01NC to agree with the name control on INOLES. the EIN on the return is correct but name control on BMF isn't conforming to acceptable rules for name controls, SSPND 320 to Entity Control for resolution. the EIN on the return and Field 01EIN agree but do not agree with name on INOLES, SSPND 320 to Entity Control for resolution.
-
Field length - 9 positions
-
Field 01EIN is the Employer Identification Number and located in Part I.
-
This field is invalid if any of the following conditions are present:
-
The field isn't present or isn't all numeric.
-
The EIN is all zeros or all nines.
-
The first two digits are 00, 07 - 09, 17 - 19, 28, 29, 49, 78, 79 or 89.
-
-
Search the return and attachments for a valid EIN.
If Then a valid EIN is found, correct Field 01EIN. a valid EIN can’t be found on the return or attachments, -
Research MF using NAMEE & NAMEB.
-
If a valid EIN is located, correct Field 01EIN.
research locates two EINs, -
Research using CC INOLES for both EINs.
-
If both EINs are on INOLES, route to Entity using SSPND 320 and annotate "2 EINs" .
an EIN can’t be located through research, route to Entity using SSPND 320. -
-
Rejects will determine the correct EIN and name control from research.
If Then the EIN on the return is correct, but the name control on the Taxpayer Information File (TlF) doesn't meet the guidelines, attach Form 4227 and SSPND 320 to Entity Control. Entity Control has found the correct EIN, enter it in Field 01EIN. Entity Control has assigned an EIN, enter it in Field 01EIN. Enter the entity assignment date in the CRD Field 01CRD. The date is found in the left hand margin with an edited "E" .
-
Field length - 6 positions
-
Field 01TXP is the Tax Period and is edited:
-
In the upper right-hand corner of Form 8038-GC, Form 8328 (the calendar year preceding the year the return is filed).
-
In the upper right-hand corner of Form 8703.
-
-
The tax period isn't edited on Forms 8038, 8038-G, 8038-B, 8038-T and 8038-TC. Use the "Date of Issue" to determine the tax period for Forms 8038, 8038-G, 8038-GC, 8038-T, 8038-B, and 8038-TC.
-
The tax period isn't edited on Form 8038-CP. Use the "Interest Payment Date" to determine the tax period on Form 8038-CP.
-
This field is invalid if:
-
It’s all blank.
-
It’s not all numeric.
-
The year is after the current year.
-
The year is before 198501 on Form 8038, Form 8038-G, and Form 8038-GC.
-
The year is before 03-18-2010 for Form 8038-TC.
-
The year is before 02-17-2009 for Form 8038-B and Form 8038-CP.
-
The year is before 200712 for Form 8703.
-
The year is before 195401 on Form 8038-T.
-
It isn't equal to the Date of Issue (01DTI will also be invalid) on Form 8038, Form 8038-B, Form 8038-TC, Form 8038-G and Form 8038-GC.
-
-
Form 8038, Form 8038-G, Form 8038-GC, and Form 8038-T, correct any coding or transcription errors..
If Then the tax period hasn’t been edited, enter the Date of Issue in YYYYMM format. the tax period is prior to 198501, Change the tax period (Field 01TXP) to 198501, and for Forms 8038, 8038-G, and 8038-GC change the Date of Issue (Field 01DTI) to 19850101. the tax period is prior to 195401, Change the tax period (Field 01TXP) to 195401 for Form 8038-T, change the Date of Issuer (Field 01DTI) to 19540101. -
Form 8038-B, correct any coding or transcription errors.
If Then the tax period hasn’t been edited, enter the Date of Issue in YYYYMM format. the Date of Issue is prior to 02/17/2009, -
Edit ERS AC 211.
-
After a reply is received enter the date in 01TXP and 01DTI, and enter the Correspondence Received date in 01CRD.
-
If no reply is received, enter CCC "3" in 01CCC, and enter the signature date in the Date of Issue and Tax period.
-
If the signature is missing and no reply is received, enter the IRS received date minus 10 days in 01TXP, and 01DTI (see example below).
-
-
Form 8038-TC correct any coding or transcription errors.
If Then the tax period hasn’t been edited, enter the Date of Issue in YYYYMM format. the Date of Issue is prior to 12/31/2008, -
Edit ERS AC 211.
-
After a reply is received enter the date in 01TXP and 01DTI, and enter the correspondence received date in 01CRD.
-
If no reply is received, enter CCC "3" in 01CCC, and enter the signature date in the Date of Issue and tax period.
-
If the signature is missing and no reply is received, enter the IRS received date minus 10 days in 01TXP, and 01DTI (see example below).
-
-
Form 8328, correct any coding or transcription errors.
-
Form 8703, correct any coding or transcription errors.
If Then the tax period hasn’t been edited, enter the date in YYYYMM format. the tax period is prior to 200712, change the tax period (Field 01TXP) to 200712. -
Form 8038, Form 8038-B, Form 8038-TC, Form 8038-G, Form 8038-GC or Form 8703 is determined to be early filed:
If Then the tax period is less than 120 days after today's date, SSPND 480. the tax period is 120 days or more in the future, SSPND 211. -
Rejects will:
If Then the tax period is less than 120 days from today's date, hold the return until the month of the tax period on the return, send the return through to be processed. the tax period is 120 days or more in the future, and a reply is received, perfect the return. the tax period is 120 days or more in the future, and no reply is received, enter the signature date as the tax period date. the tax period is 120 days or more in the future, and the signature date is missing, enter the IRS received date minus ten days.
-
Field length - 3 positions
-
Field 01RPT is the Report Number and located in Part I of each return.
-
This entry is numeric only. Refer to the table below for valid ranges for each form:
Form Valid Report Number Range 8038 100 - 199 8038-B 100 - 499 8038-CP -
200 - 299
-
400 - 499
-
800 - 899
8038-G 300 - 399 8038-GC 500 - 599 8038-T 700 - 799 8038-TC 100 - 499 8328 900 - 999 8703 100 - 999 -
-
This field will be invalid if blank or not within the range identified above for each form.
-
Correct any coding or transcription errors.
-
If the report number is blank or other than identified in IRM 3.12.26.5.6 above, research IDRS to determine the next available report number for that tax period for that series return.
-
In this example, you would circle out report number 001 and enter the next available report number for that tax period for Form 8038. In this example it would be 101.
-
Field length - 10 positions
-
Field 01CCC is the Computer Condition Code and is edited as shown below. Refer to the table in IRM 3.12.26.5.7.2 (6) below for a description of the codes and their usage.
-
Form 8038: Part II, dotted portion of line 11a.
-
Form 8038-B: Part II, to the right of line 3 blank area.
-
Form 8038-CP: Part III, dotted portion of line 19a.
-
Form 8038-G: Part II, dotted portion of line 11.
-
Form 8038-GC: Part II, dotted portion of line 8a.
-
Form 8038-T: Part II, line 12 on the dotted portion (rev. prior to 1999, line 10).
-
Form 8038-TC: Part III, dotted portion of line 1.
-
Form 8328: Part II, dotted portion of line 1.
-
Form 8703: Part II, dotted portion of line 5.
-
-
Valid codes are "D" , "G" , "R" , "F" , "3" , and "7" for all forms above. CCC "H" is valid for Form 8038-G only. CCC "W" , "C" , "X" and "O" is valid for Form 8038-CP only.
-
This field is invalid if:
-
CCC "G" is present and any CCC other than "3" .
-
CCC "7" is present with both CCC "D" and "R" .
-
-
Correct any coding or transcription errors.
-
If the code(s) are entered incorrectly, refer to the return and the CCC table below to determine which code(s) is necessary.
-
If the return is an amended Form 8038, Form 8038-B, Form 8038-G, Form 8038-TC, Form 8038-GC, Form 8038-T, Form 8703, or Form 8038-CP, SSPND 640 to rejects and attach a Form 4227 stating "Cancel to EO Accounts" .
-
If the return is an amended Form 8328 process as an original.
-
If CCC "7" (Reasonable Cause Denied) is present with both CCC "R" and "D" , determine if CCC "7" is correct. If correct, delete the other codes. If not, delete CCC "7" .
-
CCC "X" and "C" is only valid for Form 8038-CP. CCC "O" is also used to restrict credit payment on Form 8038-CP.
-
Review reasonable cause statement to determine which CCC (R or 7) are applicable. If the taxpayer indicates the failure to file or pay was due to willful neglect, reasonable cause may not be granted. Willful neglect is defined as: Conscious, intentional failure to comply with the provisions of the IRC, or reckless indifference to such provisions.
-
Computer Condition Codes:
CCC DEFINITION USE IF FOR FORM(S) D Reasonable cause for failure to pay timely Untimely paid return and reasonable cause is established in accordance with Revenue Procedure 90-11. 8038-T F Final return Return indicates it's a "Final" . -
8038-T
-
8038-CP
G Amended return Amended returns. (Not applicable to TEB returns.) -
8038
-
8038-G
-
8038-GC
-
8038-T
-
8328
-
8703
R Reasonable cause for failure to file return timely Untimely filed return and reasonable cause is established in accordance with Rev. Proc. 88-10 ; Rev. Proc. 2002-48, Rev. Proc. 90-11, or Rev. Proc. 2005-40. -
8038
-
8038-G
-
8038-GC
-
8038-T
-
8703
3 No Reply Input when issuer doesn't reply to IRS correspondence. -
8038
-
8038-CP
-
8038-G
-
8038-GC
-
8038-T
-
8328
-
8703
7 -
Reasonable cause was considered and denied.
-
Return was "referred to GECS" or
-
Form 8038-T was secured by GECS and a late filing CP 142 notice shouldn’t be generated.
-
Reasonable cause was not granted.
-
≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡
-
Form 8038-T CP 142 late filing correspondence shouldn’t be issued because the return was secured by GECS.???
-
8038
-
8038-B
-
8038-G
-
8038-GC
-
8038-T
-
8703
O Input when a refund of ≡ ≡ ≡ ≡ ≡ ≡ ≡ or more is present on line 22 (8038-CP) requiring a manual refund be issued and/or the FAST Field Office agent performing the initial review requests a refund be stopped (regardless of the amount). Used to stop a refund from generating so a manual refund can be done. 8038-CP H Form 8038-G, Line 18- other described as "Tribal Economic Development Bond" The description on Form 8038-G, line 18 other reads "Tribal Economic Development Bond" . 8038-G W Prevents the validity check on returns which are filed two years and nine months after the due date. Indicates Statute Cleared. Edit CCC "W" if the statute return is stamped "Cleared by Statute" . 8038-CP C Indicates a Form 8038-CP is subject to the sequestration decrease. CCC "C" isn't present on a Form 8038-CP. 8038-CP X Module freeze Used to freeze module from refunding or offsetting credit. 8038-CP -
-
Accept reasonable cause and edit CCC "R" or "D" if the taxpayer has filed the following:
Form And the taxpayer indicates they filed in accordance with Rev. Proc. 88-10 or Rev. Proc. 2002-48. A reason for the delay must also be addressed. 8038-T, reasonable cause isn't accepted on this form. All reasons need to be referred to GECS within 21 days, for consideration. -
If the taxpayer indicates the failure to file or pay was due to willful neglect, reasonable cause may not be granted. Willful neglect is defined as Conscious, intentional failure to comply with the provisions of the IRC, or reckless indifference to such provisions
-
Field length - 8 positions
-
Field 01RCD is the received date and is date-stamped by Receipt and Control or perfected by Code and Edit in the center portion of the return. A received date is always required.
-
This field is invalid if:
-
Not in YYYYMMDD format.
-
Later than the current processing date.
-
Prior to 19850101 on Form 8038, Form 8038-G and Form 8038-GC.
-
Prior to 19540101 on Form 8038-T.
-
Prior to 20090101 on Form 8038-TC.
-
Prior to 20090217 on Form 8038-B and Form 8038-CP.
-
Prior to 19881101 on Form 8703.
-
Not all numeric.
-
It’s blank.
-
The Received Date 01RCD is equal to or prior to the Date of Issue, 01DTI (both Fields 01RCD and 01DTI will be invalid) for Form 8038, Form 8038-B, Form 8038-G, Form 8038-TC and Form 8038-GC.
-
-
Correct any coding and transcription errors.
If Then multiple dates are present, use the earliest date. there isn’t a received date or the date stamp is illegible on the return, Determine the date in the following order: -
U.S. Postal Service Postmark Date/Foreign Postmark/Designated Private Delivery Service (i.e., Federal Express).
-
SCAMPS (service center automatic mail processing system) digital date.
-
Revenue Agent’s signature date.
-
Signature Date (only within current tax year).
-
Julian Date minus 10 days.
≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ change Field 01RCD to agree with the postmark date. the received date is equal to or prior to Field 01DTD (Date of Issue), both 01RCD and 01DTI will be invalid. change 01RCD to one day later than Field 01DTI. -
-
Field length - 8 positions
-
Field 01CRD is the Correspondence Received Date (CRD) and is edited below the address in the entity section. When a return has been treated as not processed and the taxpayer has been contacted, the date the reply is received with the pertinent information is the Correspondence Received Date.
-
The CRD is determined from the date the reply is received at the service center.
-
This field is invalid if one of the following conditions exist:
-
Not all numeric.
-
The date is earlier than or equal to the Return Due Date (see Exhibit 3.12.26-2 for return due dates).
-
The date is equal to or earlier than the Received Date.
-
The date is later than the processing date.
-
CCC "3" is present.
-
-
Both the original Received Date and the CRD must be present
If Then the reply isn't date stamped, Use the U.S. Postal Service postmark date on the envelope attached to the reply as the CRD. faxed reply is received, Determine the CRD in the following priority: -
Correspondence received date stamp.
-
Date the reply was faxed.
-
Date entered on fax cover sheet by taxpayer.
-
Current date.
both the CRD and CCC "3" a present, -
If no reply, delete the CRD.
-
If reply is received, delete CCC 3
-
-
Field length - 35 positions
-
Field 01NM1 is the Name of the Entity Issuing the Bonds (not the name of the entity receiving the benefit of the financing), and located in Part I.
-
Form 8703 - Field 01NM1 is the "Operator of Project" name and located in Part I.
-
Field 01NM1 is invalid if:
-
The first position isn't alpha or numeric.
-
Any characters aren’t alpha, numeric, ampersand, hyphen, or blank.
-
There are two consecutive blanks followed by valid characters.
-
Blank.
-
-
Field length - 35 positions
-
Field 01NM2 is the second name line of the entity issuing the bond (not the name of the entity receiving the benefit of the financing), or the operator of project (Form 8703) and located in Part I. The field is also used as an overflow for the first name line.
-
This field is invalid if:
-
The first position isn't alpha or numeric.
-
Any characters are not alpha, numeric, ampersand, hyphen, or blank.
-
There are two consecutive blanks followed by valid characters.
-
-
Field length - 35 positions
-
Field 01CON is the In Care of Name Line and located in Part I.
-
The field may be alpha and numeric.
-
The field is valid if blank.
-
Field length - 35 positions
-
Field 01FAD is the Foreign Address and located in Part 1.
-
The field can be alpha, numeric, and special characters.
-
The field is valid if blank.
-
The field is invalid if any of the following conditions exist:
-
The first position is blank.
-
Any character follows two consecutive blanks.
-
There are more than 35 characters present in the field.
-
-
To be processable, a return must contain the following:
-
Employer Identification Number,
-
Legible name,
-
Legible address
-
Valid tax period
-
Report number
-
-
An "unprocessable" return may consist of one or more of the following:
-
The name is so illegible or incomplete that the name control can’t be determined.
-
The EIN is missing, illegible, or other than 9 digits.
-
Required tax data entered on the return is incomplete, illegible, or contradictory.
-
A foreign address is entered in the entity section or the address is missing or illegible.
-
-
Examine all attachments and schedules for information necessary to make the return processable. If the information is found on attachments or schedules, edit to the appropriate area on the return.
-
If required information isn't found on an attachment or schedule:
-
Perfect the return as much as possible.
-
SSPND 450.
-
-
Route unprocessable returns as follows:
Route With To Perfected numbered or unnumbered returns unresolved entity issues (i.e. missing/invalid EIN, address missing or illegible) Entity and attach a completed Form 4227. Unnumbered returns a foreign address TE/GE
SE:T:HQ:SS:BSP:SPP&O
MS: 1110Numbered returns a foreign address TE/GE
SE:T:HQ:SS:BSP:SPP&O
MS: 1110
and-
SSPND 450.
-
Attach a completed Form 4227.
-
Annotate the unprocessable condition and include the mail stop.
-
-
Field length - 35 positions
-
Field 01ADD is the Street Address and located in Part I.
-
The is field is invalid if:
-
The first position is blank.
-
Any characters are not alpha, numeric, blank, hyphen (-), and slash (/).
-
There are two consecutive blanks followed by valid characters.
-
A Major City Code (MCC) is present in Field 01CTY and a street address isn't present.
-
-
Refer to the street address on the return.
-
Correct any coding or transcription errors.
If Then the address on the return is illegible, refer to the envelope and attachments to determine the taxpayer's correct address. you can’t perfect the address, delete Fields 01ADD, 01CTY, 01ST, and 01ZIP. -
To verify the major city code (MCC), refer to Document 7475, State Abbreviations, Major City Codes and Address Abbreviations.
If Then the MCC is correct and valid, and the street address is present and legible on the return, enter the street address in Field 01ADD. a valid street address isn't available from the return or attachments, enter the name of the city in Field 01CTY and state in Field 01ST.
-
Field length - 22 positions
-
Field 01CTY is the City and located in Part I.
-
The field is invalid if:
-
The first, second and third positions a blank.
-
A character follows the first two adjoining blanks.
-
Any character isn't alpha or blank.
-
The MCC is invalid.
-
The foreign country code is present, incorrect, or contains "XX" .
-
-
Refer to the city shown on the return.
-
Correct any coding or transcription errors.
If Then the city on the return is illegible, refer to the envelope and attachments to determine the correct city. you can’t perfect the city, delete address fields 01ADD, 01CTY, 01ST, and 01ZIP. -
-
The city field (01CTY) and state code field (Field 01ST) a invalid if a MCC and a state code is present in Field 01ST. To correct, refer to the return and Document 7475, to verify the MCC.
If Then the MCC is correct, delete the state code entered in Field 01ST. the MCC isn't correct, enter the full name of the city in Field 01CTY. -
Verify the state code entered in Field 01ST is correct.
-
This field and the ZIP code field are invalid if a MCC is present and the ZIP code isn't valid for the city.
-
To correct, refer to the return and Document 7475, to determine the correct MCC and ZIP code
If Then the ZIP code and MCC were transcribed correctly, and the ZIP code is invalid for the city, -
Refer to the envelope and attachments to locate a valid ZIP code.
-
If one is located, enter in Field 01ZIP.
the correct ZIP code isn't available on the document or attachments, -
Look up the ZIP code in Document 7475
-
Enter into Field 01ZIP.
-
-
Field length - 2 positions
-
Field 01ST is the State and located in Part I.
-
This field contains two alpha characters.
-
The field is invalid if:
-
It’s blank and MCC isn't present in Field 01CTY.
-
It contains other than a valid state code.
-
-
Correct any coding or transcription errors.
-
Refer to the return and Document 7475 to determine the correct state code.
If Then the state code can’t be determined, check the return and attachments. you can’t perfect it, delete entries in fields 01ADD, 01CTY, 01ST, and 01ZIP. -
Both 01ST and 01ZIP is invalid if the ZIP code isn't valid for the state. To correct, refer to the return and Document 7475, to verify the state and ZIP code.
If Then the state code is incorrect, determine the correct code and enter it in Field 01ST. the ZIP code isn't valid for the state, refer to the envelope and attachments to obtain a valid code. a valid ZIP code can’t be found on the return or attachments, refer to Document 7475. -
Returns with address changes in the following American possessions can be input with the return the same as a domestic address:
-
American Samoa (AS)
-
Mariana Islands (MH)
-
Puerto Rico (PR)
-
Virgin Island (VI)
-
Guam (GU)
-
-
Field length - 12 positions
-
Field 01ZIP is the ZIP Code and located in Part I.
-
This position contains 5, 9, or 12 characters.
-
The field is invalid if:
-
It isn't all numeric or blank.
-
There are not 5, 9, or 12 numeric characters.
-
-
Field length - 35 positions
-
Field 01NM3 is the Operator of Project and located in Part I.
-
The field is invalid if:
-
The first position isn't alpha or numeric.
-
Any characters aren’t alpha, numeric, ampersand or hyphen.
-
There are two consecutive blanks, followed by valid characters.
-
-
Field length - 35 positions
-
Field 01NM4 is the second name line of the Operator of Project and located in Part I. The field is also used as an overflow for the first name line.
-
The field is invalid if:
-
The first position isn't alpha or numeric.
-
Any characters are not alpha, numeric, ampersand, hyphen, or blank.
-
There are two consecutive blanks followed by valid characters.
-
-
Field length - 35 positions
-
Field 01AD2 is the Owner of Project Street Address and located in Part I.
-
The field is invalid if:
-
The first position is blank.
-
Any characters are not alpha, numeric, blank, hyphen (-), and slash (/).
-
There are two consecutive blanks followed by valid characters.
-
A Major City Code (MCC) is present in Field 01CT2 and a street address isn't present.
-
-
Refer to the street address on the return.
-
Correct any coding or transcription errors.
-
If the address on the return is illegible or can’t be perfected, delete Fields 01AD2, 01CT2, 01ST2, and 01ZP2
-
To verify the major city code (MCC), refer to Document 7475, State Abbreviations, Major City Codes and Address Abbreviations.
If Then the MCC is correct and valid, and the street address is present and legible, enter the street address in Field 01AD2. a valid street address isn't available from the return or attachments, enter the name of the city in Field 01CT2 and state in Field 01ST2.
-
Field length - 22 positions
-
Field 01CT2 is the City of the Owner of Project and located in Part I.
-
The field is invalid if:
-
The first, second and third positions a blank.
-
A character follows the first two adjoining blanks.
-
Any character isn't alpha or blank.
-
The MCC is invalid.
-
The foreign country code is present, incorrect, or contains "XX" .
-
-
Refer to the city shown on the return.
-
Correct any coding or transcription errors.
If Then the city on the return is illegible or can’t be perfected, delete address fields 01AD2, 01CT2, 01ST2, and 01ZP2. -
-
The city field (01CT2) and state code field (Field 01ST2) is invalid if a MCC and a state code is present in Field 01ST2. To correct, refer to the return and Document 7475 to verify the MCC.
If Then the MCC is correct, delete the state code entered in Field 01ST2. the MCC isn't correct, enter the full name of the city in Field 01CT2. -
Verify the state code entered in Field 01ST2 is correct.
-
This field and the ZIP code field is invalid if a MCC are present and the ZIP code isn't valid for the city.
-
To correct, refer to the return and Document 7475, to determine the correct MCC and ZIP code.
If Then the ZIP code and MCC were transcribed correctly, and the ZIP code is invalid for the city, -
Refer to the envelope and attachments to locate a valid ZIP code.
-
If one is located, enter in Field 01ZP2.
the correct ZIP code isn't available on the document or attachments, -
Look up the ZIP code in Document 7475.
-
Enter into Field 01ZP2.
-
-
Field length - 2 positions
-
Field 01ST2 is the Owner of Project State and located in Part I.
-
This field contains two alpha characters.
-
The field is invalid if:
-
It’s blank and MCC isn't present in Field 01CT2.
-
It contains other than a valid state code.
-
-
Correct any coding or transcription errors.
-
Refer to the return and Document 7475 to determine the correct state code.
If Then the state code can’t be determined or perfected, delete entries in fields 01AD2, 01CT2, 01ST2, and 01ZP2. -
Both 01ST2 and 01ZP2 will be invalid if the ZIP code isn't valid for the state. To correct, refer to the return and Document 7475, to verify the state and ZIP code.
If Then the state code is incorrect, determine the correct code and enter it in Field 01ST2. the ZIP code isn't valid for the state or can’t be found on the return, refer to Document 7475. -
Returns with address changes in the following American possessions can be input with the return the same as a domestic address:
-
American Samoa (AS)
-
Puerto Rico (PR)
-
Virgin Islands (VI)
-
Guam (GU)
-
-
Field length - 12 positions
-
Field 01ZP2 is the Owner of Project ZIP Code and located in Part I.
-
This position contains 5, 9, or 12 characters.
-
The field is invalid if:
-
It isn't all numeric or blank.
-
There aren’t 5, 9, or 12 numeric characters.
-
-
Field length - 35 positions
-
Field 01BLD is the Building or Project Street Address and located in Part I.
-
The field is invalid if:
-
The first position is blank.
-
Any characters isn’t alpha, numeric, blank, hyphen (-), and slash (/).
-
There are two consecutive blanks followed by valid characters.
-
A Major City Code (MCC) is present in Field 01CT3 and a street address isn't present.
-
-
Refer to the building/project street address on the return.
-
Correct any coding or transcription errors.
-
If the address on the return is illegible or can’t be perfected, delete Fields 01BLD, 01CT3, 01ST3, and 01ZP3.
-
To verify the major city code (MCC), refer to Document 7475, State Abbreviations, Major City Codes and Address Abbreviations.
If Then the MCC is correct and valid, and the building/project street address is present and legible on the return, enter the street address in Field 01BLD. a valid street address isn't available from the return, enter the name of the city in Field 01CT3 and state in Field 01ST3.
-
Field length - 22 positions
-
Field 01CT3 is the City of the Building or Project and located in Part I.
-
The field is invalid if:
-
The first, second and third position are blank.
-
A character follows the first two adjoining blanks.
-
Any character isn't alpha or blank.
-
The MCC is invalid.
-
The foreign country code is present, incorrect, or contains "XX" .
-
-
Refer to the city shown on the return.
-
Correct any coding or transcription errors.
If Then the city on the return is illegible or can’t be perfected, delete address fields 01BLD, 01CT3, 01ST3, and 01ZP3. -
-
The city field (01CT3) and state code field (Field 01ST3) a invalid if a MCC and a state code is present in Field 01ST3. To correct, refer to the return and Document 7475, to verify the MCC.
If Then the MCC is correct, delete the state code entered in Field 01ST3. the MCC isn't correct, enter the full name of the city in Field 01CT3. -
Verify the state code entered in Field 01ST3 is correct.
-
This field and the ZIP code field are invalid if a MCC is present and the ZIP code isn't valid for the city.
-
To correct, refer to the return and Document 7475, to determine the correct MCC and ZIP code. Enter the valid ZIP code in Field 01ZP3.
-
-
Field length - 2 positions
-
Field 01ST3 is the Building or Project State and located in Part I.
-
This field contains two alpha characters.
-
The field is invalid if:
-
It’s blank and MCC isn't present in Field 01CT3.
-
It contains other than a valid state code.
-
-
Correct any coding or transcription errors.
-
Refer to the return and Document 7475 to determine the correct state code.
If Then the state code can’t be determined or perfected, delete entries in fields 01BLD, 01CT3, 01ST3, and 01ZP3. -
Both 01ST3 and 01ZP3 will be invalid if the ZIP code isn't valid for the state. To correct, refer to the return and Document 7475, to verify the state and ZIP code.
If Then the state code is incorrect, determine the correct code and enter it in Field 01ST3. the ZIP code isn't valid for the state or can’t be found on the return, refer to Document 7475. -
Returns with address changes in the following American possessions can be input with the return the same as a domestic address:
-
American Samoa (AS)
-
Puerto Rico (PR)
-
Virgin Islands (VI)
-
Guam (GU)
-
-
Field length - 12 positions
-
Field 01ZP3 is the Building or Project ZIP Code and located in Part I.
-
This position contains 5, 9, or 12 characters.
-
The field is invalid if:
-
It isn't all numeric or blank.
-
There are not 5, 9, or 12 numeric characters.
-
-
Field length - 35 positions
-
Field 01INM is the Name of Issue and may be alpha and numeric. It's located as follows:
-
Form 8038, Form 8038-B, Form 8038-G, and Form 8038-TC - Part I, line 8.
-
Form 8038-GC, Form 8328 and Form 8703 - Not valid on these forms. If present, delete entry.
-
-
This field is valid if blank.
-
The field is invalid if:
-
The first position isn't alpha or numeric.
-
Any character isn’t alpha, numeric, ampersand or hyphen.
-
There are two consecutive blanks, followed by valid characters.
-
-
Field length - 8 positions
-
Field 01DTI is the Date of Issue and located as follows:
-
Form 8038: Part I, line 7
-
Form 8038-B: Part I, line 7
-
Form 8038-G: Part I, line 7
-
Form 8038-GC: Part II, line 8b
-
Form 8038-TC: Part I, line 7
-
Form 8328 and Form 8703: Not valid on these forms. If present, delete the entry.
-
-
The field is invalid if:
-
The field isn't present or isn’t numeric.
-
It’s equal to or after the received date. Field 01RCD will also be invalid.
-
It isn't equal to the tax period Field 01TXP. Field 01TXP will also be invalid.
-
-
Compare the entry on Field 01DTI with the return and correct any coding or transcription errors.
-
Enter the date in YYYYMMDD format.
If Then the Date of Issue is equal to or after the received date, change Field 01RCD (received date) to one day later than Field 01DTI (Date of Issue). more than one date is present, enter the earliest date. One of the following apply: -
Forms 8038, 8038-G, and 8038-GC Date of Issue is prior to 198501,
-
Form 8038-TC Date of Issue is prior to 03/18/2010,
-
Form 8038-B Date of Issue is prior to 02/17/2009,
-
the Date of Issue is missing,
SSPND 211. -
-
Rejects will:
If Then the reply is incomplete or no reply is received, -
Enter CCC "3" in 01CCC and enter the signature date in the Date of Issue and tax period.
-
If the signature is missing and no reply is received, enter the IRS received date minus 10 days in 01TXP, and 01DTI.
a reply is received, Enter the date in 01TXP and 01DTI. and enter the correspondence received date in 01CRD. -
-
Field length - 12 positions
-
Field 01CUS is the CUSIP Number and may be alpha, numeric or blank. It's located on the form as follows:
-
Form 8038: Part I, Line 9
-
Form 8038-B: Part I, Line 9
-
Form 8038-CP, Part II, Line 14
-
Form 8038-G: Part I, Line 9
-
Form 8038-TC: Part I, Line 9
-
Form 8038-GC, Form 8328 or Form 8703 - Not valid with this form. If present, delete the entry.
-
-
To correct Field 01CUS:
-
Correct any coding and transcription errors.
-
The CUSIP number is a combination of nine alpha and numeric characters.
If Then multiple CUSIP numbers are present, enter the first number in Field 01CUS. fewer than nine characters, enter the number of characters present on line 9 in Field 01CUS. the word "None" is present, enter "None" in Field 01CUS. blank, leave blank. -
-
Field length - 1 position
-
Field 01CAF is the CAF Code Indicator.
-
The CAF indicator is no longer edited by Code & Edit
-
If the field has an entry, delete the entry.
-
Field length - 1 position
-
Field 01SIG is the Signature Code and located in the right margin of the Signature line in Part III.
-
As part of our response to the COVID-19 situation, a temporary deviation was implemented that allows taxpayers and representatives to use electronic or digital signatures when signing certain forms that currently require a handwritten signature. Effective immediately, electronic or digital signatures are acceptable on all Form 8038, Form 8038-G and Form 8038-GC returns that are signed or postmarked on August 28, 2020 or later. The temporary guidance expires on October 31, 2023. Electronic and digital signatures appear in many forms when printed and may be created by many different technologies. No specific technology is required for this purpose during this temporary deviation.
-
Field 01SIG is invalid if:
-
It’s not numeric
-
The entry is other than "1" (signature present) or "3" (signature not present) after correspondence and no reply.
-
-
To correct Field 01SIG:
If Then a signature is present, enter a "1" in the right margin next to the signature block. a signature only is missing, SSPND 225. -
Rejects will:
If Then a valid reply is received, -
Enter a "1" in Field 01SIG.
-
Enter the correspondence received date in Field 01CRD.
no reply or an incorrect reply is received, -
Enter CCC "3" in Field 01SIG.
-
Enter a "3" in Field 01CCC.
-
-
Field length - 1 position
-
Field 01PRE is the Preparation Code and located in the right margin of the preparer’s SSN or PTIN box.
-
Field 01PRE is invalid if:
-
It’s not numeric.
-
The entry is other than "1" or blank.
-
-
Edit a Preparation Code "1" in the right margin next to the preparer's SSN or PTIN box if both of the following apply:
-
The return is signed by a preparer.
-
The paid preparer’s section has information that’s different than the person signing the return.
-
-
Field length - 9 positions
-
Field 01PSN is the Preparer’s SSN or PTIN and located in the paid preparer’s signature portion in Part II, in the preparer’s SSN or PTIN box.
-
The preparer SSN must be a nine-digit number. A preparer’s Tax Identification Number (PTIN) is a valid entry in the preparer's Social Security Number or PTIN area at the bottom of Form 8703. The PTIN is nine digits beginning with the alpha "P" followed by an eight-digit number (e.g., PXXXXXXXX).
-
Field 01PSN is invalid if:
-
The first position is other than numeric or a "P" .
-
The field is all zeroes or all nines or the first position is "P" and the remaining positions are all zeroes or all nines.
-
Other than the first position isn't numerics.
-
-
Field length - 9 positions
-
Field 01PEN, Preparer's EIN is located in the Paid Preparer's signature portion in the Firm's EIN box, in Part III.
-
If present, the field may be any combination of numerics, except all zeros or all nines. The first character may be a "P" .
-
Field 01PEN is invalid if:
-
The first position is other than numeric.
-
The field is all zeroes or all nines.
-
-
Field length - 10 positions
-
Field 01PTN, Preparer's Telephone Number is located in the paid preparer signature portion, in the Firm's Phone number box.
-
If present, the field is numeric.
-
If more than 10 digits are present, enter the first 10 digits only and continue processing.
-
If the paid preparer phone number is incomplete, illegible, or fewer than 10 digits, review the return and all attachments.
If Then a complete paid preparer phone number is located elsewhere on the return or attachments, edit to the phone number line. a complete paid preparer phone number isn’t located or the number is illegible, Delete. Don’t attempt to correct the field.
-
Section 02 alpha designators, title, location and field lengths are listed below:
Field Title Form 8038 Field Lengths 0211A Airport Issue Price Amount Part II, Line 11a - 15 0211B Docs and Wharves Issue Price Amount Part II, Line 11b 15 0211C Water Furnishing Fac Issue Price Amount Part II, Lines 11c 15 0211D Sewage Fac Issue Price Amount Part II, Line 11d 15 0211E Solid Waste Disp Fac Issue Price Amount Part II, Line 11e 15 0211F Qualified Residential Rent Project Issue Price Amount Part II, Line 11f 15 0211G Fac for Loc Furn Elec or Gas Issue Price Amount Part II, Line 11g 15 0211H Fac under Trans Rul TRA 1986 Issue Price Amount Part II, Line 11h 15 0211I Qual Ent Zone Fac Sect 1394 Issue Price Amount Part II, Line 11i 15 0211J Qual Empowr Zn Fac Sect 1394f Issue Price Amount Part II, Line 11j 15 0211K Qual Brdband Proj Issue Price Amount Part II, Line 11k 15 0211L Qual Public Ed Fac 142a13 Issue Price Amount Part II, Line 11l 15 0211M Qual Grn Bldng Dsgn Proj 142a14 Issue Price Amount Part II, Line 11m 15 0211N Qual Hwy Surf Frt Trns 142a13 Issue Price Amount Part II, Line 11n 15 0211O Carbon Diox Fac Issue Price Amount Part II, Line 11o 15 0211P NY Lib Zone Proj 1400Ld Issue Price Amount Part II, Line 11p 15 0211Q Other Issue Price Amount Part II, Line 11q 15 0211X Special Additional Write in Field Issue Price Amount (currently used for 2008 Housing Act Qualified for Housing under 142) Part II, Line 11x 15 0211Y Special Additional Write in Field Issue Price Amount (currently used for Midwestern Disaster Exempt Facility Bonds) Part II, Line 11y 15 0211Z Special Write in Field Issue Price Amount (currently used for Hurricane Ike Exempt Facility Bonds) Part II, Line 11z 15 0212A Qual Mortgage Bond Sect 143a Issue Price Amount Part II, Line 12a 15 0212B Other Issue Price Amount Part II, Line 12b 15 0212D Special Additional Write in Field Other Issue Price Amount (currently used for Hurricane Ike Mortgage Bonds) Part II, Line 12d 15 0213 Qual Vet Mortgage Sect 143b Issue Price Amount Part II, Line 13 15 0214 Qual Small Issue Sect 144a Issue Price Amount Part II, Line 14 15 0215 Qual Student Loan Sect 144b Issue Price Amount Part II, Line 15 15 0216 Qual Redvlpmnt Sect 144c Issue Price Amount Part II, Line 16 15 0217 Qual Hospital Sect 145c Issue Price Amount Part II, Line 17 15 0218 Qual 501c3 Nonhosp 145b Issue Price Amount Part II, Line 18 15 0219 Nongvmtl Output Property 141d Issue Price Amount Part II, Line 19 15 0220A Other Issue Price Amount Part II, Line 20a 15 0220B NY Lib Zn Adv Ref Sect 1400Le Issue Price Amount Part II, Line 20b 15 0220C Other Issue Price Amount Part II, Line 20c 15 0220Z Special Additional Write in Field Issue Price Amount (currently used for 2008 Housing Act Qualified Housing under 143) Part II, Line 20z 15
-
Field length - 15 positions
-
Fields 0211a - 0220z are the Issue Price Amounts. Each issue price amount field may have an entry, and located on the Form 8038 in Part II, lines 11a - 20z (see IRM 3.12.26.6 above for specific fields and locations).
-
The field(s) is numeric and transcribed in dollars only.
-
The field(s) is invalid if at least one issue price amount isn't present.
-
To correct Fields 0211A - 0220Z:
-
Refer to the return to verify the entries.
-
Correct any coding or transcription errors.
-
Enter the amount(s) as entered on Lines 11a - 20z.
If Then Part II, line 20c (other) has wording similar to any of the following: -
Clean Renewable Energy Bond
-
Qualified Zone Academy Bond
-
Qualified Energy Conservation bond
-
Midwestern Disaster Tax Credit Bond
-
Qualified School Construction Bond
-
Qualified School construction Bonds (Indian Schools),
enter SSPND 211. Part II, line 20c (other) has wording similar to "2008 Housing Act Qualified Housing Issue under 142" , enter (convert) line 20c to 11x. Part II, line 20c (other) has wording similar to "2008 Housing Act Qualified Housing Issue under 143" , enter (convert) line 20c to read 20z. Part II, line 11q (other) has the wording "Midwestern Disaster Exempt Facility Bonds" present or contained in the attachments, enter (convert) line 11q to read 11y. Part II, line 11q (other) has the wording "Hurricane Ike Exempt Facility Bonds" present or contained in the attachments, enter (convert) line 11q to read 11z. Part II, line 20c (other) has the wording "Midwestern Disaster Mortgage Bonds" present or contained in the attachments, enter (convert) line 20c read 12c. Part II. line 20c (other) has the wording "Hurricane Ike Mortgage Bonds" present or contained in the attachments, enter (convert) line 20c to read 12d. two money amounts are present, and one of the amounts is listed as "other" on line 20c, -
Compare the issue prices in Part II, lines 11a - 20c against the issue price in Part III, line 21(b).
-
If all three match, circle out the money amount on line 20c.
the type of issue and the issue price are blank, and Part III, line 21(b) has an entry, enter the amount from Part III, line 21(b) to Part II, line 20c. more than one bond is listed on line 11q (Other), split the dollar amount between the number of bonds listed and follow instructions in b-g above. more than one bond is listed on line 20c (Other), split the dollar amount between the number of bonds listed and follow instructions in b-g above Part II, lines 11a - 20c are blank, and can’t be perfected, enter SSPND 211. at least one issue price amount can't be determined, enter SSPND 211. -
-
Rejects will:
If Then a reply is received, perfect the return. the issuers reply indicates more than one issue amount, -
Correct using the issue amounts as indicated in each issue price amount field.
-
Enter the total of all entries in 11a-20z in Field 0321B (line 22) and Field 0323 (line 23).
the reply is incomplete or a no reply, enter CCC "3" and enter "1" in Fields 0220C, 0321B and 0323. -
-
Section 03 alpha designators, title, location and field lengths are listed below:
Field Title Form 8038 Field Lengths 0321A Maturity Date Part III, Line 21a 8 0321B Entire Issue Price Part III, Line 21b 15 0321B> Entire Issue Price under print Computer generated 15 0321C Stated Redemption Maturity Amount Part III, Line 21c 15 0321D Weighted Average Maturity Years Part III, Line 21d 4 0321E Yield Percentage Part III, Line 21e 6 0322 Proceeds for accrued Interest Amount Part IV, Line 22 15 0323 Proceeds for Entire Issue Amount Part IV, Line 23 15 0324 Proceeds for Bond Issue Amount Part IV, Line 24 15 0325 Proceeds for Credit enhancement Amount Part IV, Line 25 15 0326 Proceeds to Reserve or Replacement Fund Amount Part IV, Line 26 15 0327 Proceeds Used to Currently Refund Prior Issues Part IV, Line 27 15 0328 Proceeds for Advance Refund Amount Part IV, Line 28 15 0329 Total Proceeds Amount Part IV, Line 29 15 0329> Total Proceeds Amount under print 15 0330 Net Non Refunding Proceeds Amount Part IV, Line 30 15 0330> Net Non Refunding Proceeds Amount under print Computer generated 15 0331A Non Refunding Land Proceeds Amount Part V, Line 31a 15 0331B Non Refunding Buildings and Structures Proceeds Amount Part V, Line 31b 15 0331C Non Refunding Equipment Greater than 5 Years Recovery Amount Part V, Line 31c 15 0331D Non Refunding Equipment Less than 5 Years Recovery Amount Part V, Line 31d 15 0331E Non Refunding for Other Property Proceeds Amount Part V, Line 31e 15 0332A First NAICS Code Part V, Line 32a 6 0332B First NAICS Amount Part V, Line 32a $ 15 0332C Second NAICS Code Part V, Line 32b 6 0332D Second NAICS Amount Part V, Line 32b $ 15 0332E Third NAICS Code Part V, Line 32c 6 0332F Third NAICS Amount $Part V, Line 32c $ 15 0332G Fourth NAICS Code Part V, Line 32d 6 0332H Fourth NAICS Amount Part V, Line 32d $ 15 0333 Weighted Average Maturity Currently Refunded Years Part VI, Line 33 2 0334 Weighted Average Maturity Advance Refunded Years Part VI, Line 34 2 0335 Refunded Bond Call Date Part VI, Line 35 8 0336 Refunded Bond Issue Date Part VI, Line 36 8
-
Field length - 8 positions
-
Field 0321A is the Maturity Date, is in YYYYMMDD format, and located on Form 8038 in Part III, line 21a.
-
The field can be blank.
-
Field 0321A is invalid if:
-
Field length isn't 8 positions.
-
Not numeric.
-
Date is other than 19500101 to 2099123.
-
-
To correct Field 0321A:
-
Correct any coding or transcription errors.
If Then more than one date is present, enter the latest date in Field 0321A. the maturity date is the same as or prior to the Date of Issue, SSPND 211. blank, and you’re unable to perfect it, SSPND 211. the maturity date contains an invalid year (earlier than 1950 or after 2099), perfect from attachments. the invalid year can't be perfected, SSPND 211. -
-
Rejects will:
If Then a valid reply is received, perfect the return. the reply is incomplete or no reply is received, enter CCC "3" , and continue processing.
-
Field length - 15 positions
-
Field 0321B is the Entire Issue Price of the Bond and located on Form 8038 in Part III, line 21b.
-
The field is numeric and transcribed in dollars only.
-
To correct Form 8038:
-
Correct any coding or transcription errors.
If Then line 21b is blank, and there are entries in lines 11a through 20z, -
Add the amounts on lines 11a through 20z.
-
Enter the total in Field 0321B and Field 0323.
you can’t perfect it, SSPND 211. -
-
Rejects will:
If Then a reply is received, perfect the return. the issuers reply indicates more than one issue amount, correct using the issue amounts as indicated in each issue price amount field. the reply is incomplete or no reply is received, enter CCC "3" and enter a "1" in Field 0221B. Continue processing.
-
Field length - 15 positions
-
Field 0321C is the Stated Redemption Maturity Amount is located on Form 8038 in Part III, line 21c.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 4 positions
-
Field 0321D is the Weighted Average Maturity Years and located on Form 8038 in Part III, line 21d.
-
The field is numeric only.
-
The field is valid if blank.
-
Field length - 6 positions
-
Field 0321E is the Yield Percentage and located on Form 8038 in Part III, line 21e.
-
The field is numeric or VR (for variable rate) only.
-
The field is valid if blank.
-
Field length - 15 positions
-
Field 0322 is the Proceeds for Accrued Interest Amount and located on Form 8038 in Part IV, line 22.
-
The field must be numeric and is transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 15 positions
-
Field 0323 is the Proceeds for Entire Issue Amount and located on Form 8038 in Part IV, line 23.
-
The field is numeric and transcribed in dollars only.
-
Field length - 15 positions
-
Field 0324 is the Proceeds for Bond Issue Amount and located on Form 8038 in Part IV, line 24.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
To correct Field 0324:
-
Correct any coding or transcription errors.
If Then blank, perfect from the document or attachments blank, and the computations (line 23 minus line 29 (total of lines 24-28) equal line 30) are correct, leave Field 0324 (Part IV, line 24) blank. blank, and unable to perfect from the document or attachments and the computations in lines 23 through 30 don’t match the entry on line 30, SSPND 211. -
-
Rejects will:
-
After reply is received, perfect the return.
-
If reply is incomplete or no reply is received, enter CCC "3" and continue processing.
-
-
Field length - 15 positions
-
Field 0325 is the Proceeds for Credit Enhancement Amount and located on Form 8038 in Part IV, line 25.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 15 positions
-
Field 0326 is the Proceeds to Reserve or Replacement Fund Amount and located on Form 8038 in Part IV, line 26.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 15 positions
-
Field 0327 is the Proceeds for Current Refund Amount and located on Form 8038 in Part IV, line 27.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 15 positions
-
Field 0328 is the Proceeds for Advance Refund Amount and located on Form 8038 in Part IV, line 28.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 15 positions
-
Field 0329 the Total Proceeds Amount is located on Form 8038 in Part IV, line 29.
-
The field is numeric and transcribed in dollars only.
-
Field length - 15 position
-
Field 0330 is the Net Non Refunding Proceeds Amount and located on Form 8038 in Part IV, line 30.
-
The field is numeric and transcribed in dollars only.
-
Correct any coding or transcription errors.
If Then blank, perfect from attachments. blank, and the computations on Field 0323 and 0329 are correct, -
Compute Field 0330 by subtracting Field 0329 (line 29) from Field 0323 (line 23).
-
Enter the results in Field 030 (line 30).
blank, and unable to perfect from document or attachments or Field 0330 (line 30) computation doesn't match Fields 0323 through 0329 computations, SSPND 211. -
-
Rejects will:
If Then a reply is received, perfect the return. no reply or the reply is incomplete, -
Enter CCC "3" .
-
Continue processing.
-
-
Field length - 15 position
-
Field 0331A is the Non Refunding Land Proceeds Amount and located on Form 8038 in Part V, line 31a.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 15 position
-
Field 0331B is the Non Refunding Buildings and Structures Proceeds Amount and located on Form 8038 in Part V, line 31b.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 15 position
-
Field 0331C is the Non Refunding Equipment Greater than 5 Years Recovery Amount and located on Form 8038 in Part V, line 31c.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 15 position
-
Field 0331D is the Non Refunding Equipment Less than 5 Years Amount and located on Form 8038 in Part V, line 31d.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 15 position
-
Field 0331E is the Non Refunding for Other Property Proceeds Amount and located on Form 8038 in Part V, line 31e.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 6 positions
-
Field 0332A is the First NAICS Code and located on Form 8038 in Part V, Line 32a.
-
The field may be alpha and numeric.
-
The field is invalid if:
-
There’s an entry in Field 0332A (line 32a code) and Field 0332B (line 32a $) is blank. .
-
There’s an entry in Field 0332B (line 32a $) and Field 0332A (line 32a code) is blank.
-
-
To correct Field 0332A:
-
Correct any coding or transcription errors.
-
Refer to the table below for Part V, Lines 32a through 32d, NAICS Code and NAICS Amount for Non-refunding Proceeds correction procedures.
If Then there are no codes or amounts present, -
Perfect from attachments.
-
If can't be perfected, leave blank.
a code is present, but missing a corresponding amount, an amount is present, but missing a corresponding code, you can’t correct it, Delete entries in Field 0332A (line 32a code) and Field 0332B (line 32a $). -
-
Field length - 15 positions
-
Field 0332B is the first NAICS Amount and located on Form 8038 in Part V, Line 32a $.
-
The field is numeric and transcribed in dollars only.
-
The field is invalid if:
-
There’s an entry in Field 0332A (line 32a code) and Field 0332B (line 32a $) is blank.
-
There’s an entry in Field 0332B (line 32a $) and Field 0332A (line 32a code) is blank.
-
-
Field length - 6 positions
-
Field 0332C is the second NAICS Code and located on Form 8038 in Part V, Line 32b.
-
The field may be alpha and numeric.
-
The field is invalid if:
-
There’s an entry in Field 0332C (line 32b code) and Field 0332D (line 32b $) is blank.
-
There’s an entry in Field 0332D (line 32b $) and Field 0332C (line 32b code) is blank.
-
-
Field length - 15 positions
-
Field 0332D is the second NAICS Amount and located on Form 8038 in Part V, Line 32b $.
-
The field is numeric and transcribed in dollars only.
-
The field is invalid if:
-
There’s an entry in Field 0332D (line 32b $) and Field 0332C (line 32b code) is blank.
-
There’s an entry in Field 0332C (line 32b code) and Field 0332D (line 32b $) is blank.
-
-
Field length - 6 positions
-
Field 0332E is the third NAICS Code and has up to 6 positions. It's located on Form 8038 in Part V, Line 32c.
-
The field may be alpha and numeric.
-
The field is invalid if:
-
There’s an entry in Field 0332E (line 32c code) and Field 0332F (line 32c $) is blank.
-
There’s an entry in Field 0332F (line 32c $) and Field 0332E (line 32c code) is blank
-
-
Field length - 15 positions
-
Field 0332F is the third NAICS Amount and located on Form 8038 in Part V, Line 32c $.
-
The field is numeric and transcribed in dollars only.
-
The field is invalid if:
-
There’s an entry in Field 0332F (line 32c $) and Field 0332E (line 32c code)is blank.
-
There’s an entry in Field 0332E (line 32c code) and Field 0332F (line 32c $) is blank.
-
-
Field length - 6 positions
-
Field 0332G is the fourth NAICS Code and located on Form 8038 in Part V, Line 32d.
-
The field may be alpha and numeric.
-
The field is invalid if:
-
There’s an entry in Field 0332G (line 32d code) and Field 0332H (line 32d $) is blank.
-
There’s an entry in Field 0332H (line 32d $) and Field 0332G (line 32d code) is blank.
-
-
Field length - 15 positions
-
Field 0332H is the fourth NAICS Amount and located on Form 8038 in Part V, Line 32d $.
-
The field is numeric and is transcribed in dollars only.
-
The field is invalid if:
-
There’s an entry in Field 0332G (line 32d code) and Field 0332H (line 32d $) is blank.
-
There’s an entry in Field 0332H (line 32d $) and Field 0332G (line 32d code) is blank.
-
-
Field length - 2 positions
-
Field 0333 is the Weighted Average Maturity Currently Refunded Years and located on Form 8038 in Part VI, Line 33.
-
The field is numeric only.
-
The field is valid if blank.
-
Field length - 2 positions
-
Field 0334 is the Weighted Average Maturity Advance Refunded Years and located on Form 8038 in Part VI, Line 34.
-
The field is numeric only.
-
The field is valid if blank.
-
Field length - 8 positions
-
Field 0335 is the Refunded Bond Call Date, is in YYYYMMDD format and located on Form 8038 in Part VI, Line 35.
-
The field is numeric only.
-
The field is valid if blank.
-
Field length - 8 positions
-
Field 0336 is the Refunded Bond Issue Date, is in YYYYMMDD format and located on Form 8038 in part VI, Line 36.
-
The field is numeric only.
-
The field is valid if blank.
-
Section 04 alpha designators, title, location and field lengths are listed below:
Field Title Form 8038 Field Lengths 0437 Government Unit Approving Name Part VII, Line 37 35 0438 Designated Issue under Section 265 Box Part VII, Line 38 1 0439 Penalty Payment Election Indicator Part VII, Line 39 1 0440 Hedge Identifier Box Part VII, Line 40a 1 0441 Hedge Super-Integrated Indicator Box Part VII, Line 41 1 0442A Gross Proceeds Invested (GIC) Amount Part VII, Line 42a 15 0442B Final Maturity Date of GIC Part VII, Line 42b 8 0443 Issuer Established Procedures Nonqualified Box Part VII, Line 43 1 0444 Issuer Established Procedures to Monitor Section 148 Box Part VII, Line 44 1 0445A Portion of Proceeds to Reimburse Issuer Part VII, Line 45a 15 0445B Date Official Intent was adopted Part VII, Line 45b 8 0446B Bond Issue Redevelopment Exempt Box Part VIII, Line 46, Box 1 0446N Primary Private User Name Part VIII, Line 46, Name 35 0446E Primary Private User EIN Part VIII, Line 46, EIN 9 0447 Volume Cap State Issuer Amount Part VIII, Line 47 15 0448 Volume Cap Unified State Amount Part VIII, Line 48 15 0449 Volume Cap Not Limited Unified State Amount Part VIII, Line 49 15 0449A Volume Cap WFADW-HRBC Amount Part VIII, Line 49a 15 0449B Volume Cap Carryforward Elect Amount Part VIII, Line 49b 15 0449C Volume Cap Transitional Rule Amount Part VIII, Line 49c 15 0449D Volume Cap Exception Current Refunding Amount Part VIII, Line 49d 15 0450A Volume Cap Qualified Veterans Mortgage Bond Amount Part VIII, Line 50a 15 0450B Volume Cap Limit on Veterans' Mortgage Bond Amount Part VIII, Line 50b 15 0451A Volume Cap Issue Section 1394F Amount Part VIII, Line 51a 15 0451B Empowerment Zone Name Part VIII, Line 51b 35 0452 Volume Cap Issue Section 142K5 Amount Part VIII, Line 52 15 04SIG Signature Code Signature on return 1 04PRE Preparation Code Right margin of the Preparer PTIN line 1 04PSN Preparer PTIN Signature block 9 04PEN Preparer EIN Signature block 9 04PTN Preparer Telephone # Signature block 10
-
Field length - 35 positions
-
Field 0437 is the Government Unit Approving Name and located on Form 8038 in Part VII, Line 37.
-
The field is valid if blank.
-
This field is invalid if:
-
The first position isn't alpha or numeric.
-
Any characters isn’t alpha, numeric, ampersand or hyphen.
-
There are two consecutive blanks, followed by valid characters.
-
-
Field length - 1 position
-
Field 0438 is the Designated Issue Under Section 265 Check Box and located on Form 8038 in Part VII, Line 38.
-
The field is numeric.
-
The field is valid if the entry is "1" or "blank" .
-
Field length - 1 position
-
Field 0439 is the Penalty Payment Election Indicator and located on Form 8038 in Part VII, Line 39.
-
The field is numeric.
-
The field is valid if entry is "1" or "blank" .
-
Field length - 1 position
-
Field 0440A is the Hedge Identifier Check Box and located on Form 8038 in Part VII, line 40a.
-
The field is numeric.
-
The field is valid if entry is "1" or "blank" .
-
Field length - 1 position
-
Field 0441 is the Hedge Super-Integrated Indicator Check Box and located on Form 8038 in Part VII, line 41.
-
The field is numeric.
-
The field is valid if the entry is "1" or "blank" .
-
Field length - 15 positions
-
Field 0442A is the Gross Proceeds Invested (GIC) Amount and located on Form 8038 in Part VII, line 42a.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 8 positions
-
Field 0442B is the Final Maturity Date of GIC, is in YYYYMMDD format and located on Form 8038 in Part VII, line 42b.
-
The field can be blank.
-
Field 0442B is invalid if:
-
Field length isn't 8 positions.
-
It’s not numeric.
-
-
Field length - 1 position
-
Field 0443 is the Issuer Established Procedures Non-Qualified Check Box and located on Form 8038 in Part VII, line 43.
-
The field is valid if "1" or "blank" .
-
Field length - 1 position.
-
Field 04 is the Issuer Established Procedures to Monitor Section 148 Check Box and located on Form 8038 in Part VII, line 44.
-
This field is valid if "1" or blank.
-
Field length - 15 positions
-
Field 04 is the Portion of Proceeds to Reimburse Issuer and located on Form 8038 in Part VII, line 45a.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 8 positions
-
Field 04 is the Date Official Intent was Adopted, is in YYYYMMDD format and located on Form 8038 in Part VII, line 45b.
-
The field is valid if blank.
-
Field 0445B is invalid if:
-
Field length isn't 8 positions.
-
It’s not numeric
-
-
Field length - 1 position
-
Field 04 is the Bond Issue Redevelopment Exempt Check Box and located on Form 8038 in Part VII, line 46.
-
The field is valid if "1" or "blank" .
-
Field length - 35 positions
-
Field 0446N is the Primary Private User Name and located on Form 8038 in Part VII, line 46 (name).
-
The field is valid if it’s blank.
-
The field is invalid if:
-
The first position isn't alpha or numeric.
-
Any characters isn’t alpha, numeric, ampersand or hyphen.
-
There are two consecutive blanks, followed by valid characters.
-
-
Field length - 9 positions
-
Field 0446E is the Primary Private User EIN and located in Part VII, line 46 (EIN).
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0447 is the Volume Cap State Issuer Amount and located on Form 8038 in Part VIII, line 47.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
To correct Field 0447:
-
Correct any coding or transcription errors.
-
If an entry is present in Field 0447, a state certification must be attached to the return.
If Then a state certification isn't attached, SSPND 211. -
-
Rejects will:
If Then a valid reply is received, attach the certification to the return. no reply or an invalid reply is received, enter CCC "3" and continue processing the return.
-
Field length - 15 positions
-
Field 0448 is the Volume Cap Unified State Amount and located on Form 8038 in Part VIII, line 48.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0449 is the Volume Cap Not Limited Unified State Amount and located on Form 8038 in Part VIII, line 49.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0449A is the Volume Cap WFADW-HRBC Amount and located on Form 8038 in Part VIII, line 49a.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0449B is the Volume Cap Carryforward Elect Amount and located on Form 8038 in Part VIII, line 49b.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
To correct Field 0449B:
-
Correct any coding or transcription errors.
-
-
If an amount is present on line 49b (field 0449B), a copy of Form 8328 must be attached to the return.
If Then a copy of Form 8328 isn't attached, SSPND 211. -
Rejects will:
If Then a valid reply is received, -
Attach the copy of Form 8328 to the return.
-
Continue processing.
an incomplete reply or a no reply is received, Enter CCC "3" and continue processing the return. -
-
Field length - 15 positions
-
Field 0449C is the Volume Cap Transitional Rule Amount and located on Form 8038 in Part VIII, Line 49c.
-
The field is numeric and transcribed in dollars only.
-
The s field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0449D is the Volume Cap Exception Current Refunding Amount and located on Form 8038 in Part VIII, line 49d.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0450A is the Volume Cap Qualified Veterans Mortgage Bond Amount and located on Form 8038 in Part VIII, line 50a.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0450B is the Volume Cap Limit on Veterans' Mortgage Bond Amount and located on Form 8038 in Part VIII, line 50b.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0451A is the Volume Cap Issue Section 1394F Amount and located on Form 8038 in Part VIII, line 51a.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
To correct Field 0451A:
-
Correct any coding or transcription errors.
-
If an entry is present in Field 051A, a local government certification must be attached to the return.
If Then a local government certification isn't attached, SSPND 211. -
-
Rejects will:
If Then a valid reply is received, Attach the certification to the return. an incomplete reply or no reply is received, Enter CCC "3" and continue processing the return.
-
Field length - 35 positions
-
Field 0451B is the Empowerment Zone Name and located on Form 8038 in Part VIII, line 51b.
-
This field is valid if blank.
-
This field is invalid if:
-
The first position isn't alpha or numeric.
-
Any characters isn’t alpha, numeric, ampersand or hyphen.
-
There are two consecutive blanks, followed by valid characters.
-
-
Field length - 15 positions
-
Field 0452 is the Volume Cap Issue Section 142K5 Amount and located on Form 8038 in Part VIII, line 52.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
To correct Field 0452:
-
Correct any coding or transcription errors.
-
If an entry is present in Field 0452, a state certification must be attached to the return.
If Then a state certification isn't attached, SSPND 211. -
-
Rejects will:
If Then a valid reply is received, Attach the certification to the return. an incomplete reply or no reply is received, Enter CCC "3" and continue processing the return.
-
Field length - 1 position
-
04SIG is the Signature Code and located in the right margin of the signature line.
-
As part of our response to the COVID-19 situation, a temporary deviation was implemented that allows taxpayers and representatives to use electronic or digital signatures when signing certain forms that currently require a handwritten signature. Effective immediately, electronic or digital signatures are acceptable on all Form 8038 returns that are signed or postmarked on August 28, 2020 or later. The temporary guidance expires on October 31, 2023. Electronic and digital signatures appear in many forms when printed and may be created by many different technologies. No specific technology is required for this purpose during this temporary deviation.
-
Field 04SIG is invalid if:
-
It’s not numeric.
-
The entry is other than "1" (signature present) or "3" (signature not present) after correspondence and no reply.
-
-
To correct Field 04SIG:
If Then a signature is present, enter a "1" in the right margin next to the signature block. only a signature is missing, SSPND 225. -
Rejects will:
If Then a valid reply is received, perfect the return by entering a "1" in Field 04SIG and enter the Correspondence Received Date, Field 01CRD. no reply or an incomplete reply is received, enter CCC "3" in Field 04SIG and enter a "3" in Field 01CCC.
-
Field length - 1 position
-
Field 04PRE is the Preparation Code and located in the right margin of the Preparer's PTIN line.
-
Field 04PRE - Preparation code is invalid if:
-
It’s not numeric.
-
The entry is other than "1" or "blank" .
-
-
Field length - 9 positions
-
Field 04PSN is the Preparer's PTIN and located in the paid Preparer's signature block, in the Preparer's PTIN box.
-
The preparer's SSN must be a nine-digit number. A Preparer's Tax Identification Number (PTIN) is a valid entry in the preparer's Social Security Number or PTIN area at the bottom of Form 8038-G. The PTIN is nine digits beginning with the alpha "P" , followed by an eight-digit number (e.g., PXXXXXXXX).
-
Field 04PSN is invalid if:
-
The first position is other than numeric or a "P" .
-
The field is all zeroes or all nines or the first position is "P" and the remaining positions are all zeroes or all nines.
-
Other than the first position isn't numerics.
-
-
Field length - 9 positions
-
Field 04PEN, is the Preparer's EIN and located in the Paid Preparer's signature portion in the Firm's EIN box.
-
If present, he field may be any combination of numerics, except all zeros or all nines. The first character may be a "P" .
-
Field 04PEN is invalid if:
-
The first position is other than numeric.
-
The field is all zeroes or all nines.
-
-
Field length - 10 positions
-
Field 04PTN is the Preparer's Telephone Number and located in the Paid Preparer's signature portion, in the Firm's Phone no. box.
-
If present, the field is numeric.
-
The field will be invalid if it isn’t numeric.
-
To correct Field 04PTN:
If Then more than 10 digits are present, Enter the first 10 digits only and continue processing. the paid preparer's phone number is incomplete, illegible, or fewer than 10 digits, -
Review the return and all attachments.
-
If a complete paid preparer's phone number is located elsewhere on the return or attachments, edit to the phone number line.
a complete paid preparer's phone number isn't located or the number is illegible, Delete. Don’t correct the field. -
-
Section 05 alpha designators, title, location and field lengths are listed below:
Field Title Form 8038-G Field Lengths 0511 Education Amount Part II, Line 11 15 0512 Health and Hospital Amount Part II, Line 12 15 0513 Transportation Amount Part II, Line 13 15 0514 Public Safety Amount Part II, Line 14 15 0515 Environment Incl Sewage Amount Part II, Line 15 15 0516 Housing Amount Part II, Line 16 15 0517 Utilities Amount Part II, Line 17 15 0518 Other Amount Part II, Line 18 15 0518X Special Additional Write in Field Issue Price Amount (currently not used) Part II, Line 18X 15 0518Y Special Additional Write in Field Issue Price Amount (currently not used). Part II, Line 18Y 15 0518Z Special Additional Write in Field Issue Price Amount (currently not used). Part II, Line 18Z 15 0519 Obligation Check Box Part II, Line 19 1 0520 Obligation Lease Installment Box Part II, Line 20 1 0521A Maturity Date Part III, Line 21a 8 0521B Entire Issue Price Part III, Line 21b 15 0521B> Entire Issue Price under print Computer generated 15 0521C Stated Redemption Maturity amount Part III, Line 21c 15 0521D Weighted Average Maturity Years Part III, Line 21d 4 0521E Yield Percentage Part III, Line 21e 6 0522 Proceeds Accrued Interest Amount Part IV, Line 22 15 0523 Proceeds of Entire Issue Amount Part IV, Line 23 15 0524 Proceeds Bond Issue amount Part IV, Line 24 15 0525 Proceeds Credit Enhancement Amount Part IV, Line 25 15 0526 Proceeds Reserve Replacement Amount Part IV, Line 26 15 0527 Proceeds Used to Currently Refund Prior Issues Part IV, Line 27 15 0528 Proceeds for Advance Refund Amount Part IV, Line 28 15 0529 Total Proceeds Amount Part IV. Line 29 15 0529> Total Proceeds Amount under print 15 0530 Net Non Refunding Proceeds Amount Part IV, Line 30 15 0530> Net Non Refunding Proceeds Amount under print Computer generated 15
-
Field length - 15 positions
-
Field 0511 - 0518z is the Issue Price Amount. Each issue price amount field may have an entry and located on the Form 8038-G in Part II, lines 11 through 18z (refer to IRM 3.12.26.8 above for specific fields and locations).
-
The field(s) is numeric and transcribed in dollars only.
-
To correct Field 0511 - 0518Z:
-
Refer to the return to verify the entries.
-
Correct any coding or transcription errors.
If Then Part II, line 18 (other) word is similar to the following: -
"Build America Bonds (tax credit)"
-
"Build America Bonds (payment option)"
-
"Recovery Zone Economic Development Bonds (payment option)"
-
"Tribal Economic Development Bonds"
SSPND 211. there are two money amounts present, and one of the amounts is listed as "other" on line 18, -
Compare the issue price(s) in Part II, lines 11 - 18 against the issue price in Part III, line 21(b).
-
If all three match, circle out the money amount on line 18.
the type of issue is indicated, and the issue price is blank and can't be perfected from Part III, line 21(b), SSPND 211. the type of issue and the issue price are blank, and line 19 and/or 20 is checked, and Part III, line 21(b) has an entry, Enter the amount from Part III, line 21(b) to Part II, line 18. the type of issue and the issue price are blank, and line 19 and/or 20 isn't checked, SSPND 211. Part II, lines 11-18 (or attachments) indicate a type of issue, but the issue price is blank and Part III, line 21(b) has a dollar amount, edit the amount from Part III, line 21(b) to the applicable Part II, line 11-18 that shows a type of issue. Part II, lines 11 - 18 i blank, and can’t be perfected, SSPND 211 at least one issue price amount can't be determined, SSPND 211 -
-
Rejects will:
If Then after reply is received, Perfect the return. the issuer’s reply indicates more than one issue amount, -
Correct using the issue amounts as indicated in each Issue Price Amount field.
-
Enter the total of all entries in 11a - 18z in Field 0522 (line 22) and Field 0523 (line 23).
the reply is incomplete or a no reply is received, Enter CCC "3" and enter "1" in Field 0518 -
-
Field length - 1 position
-
Field 0519 is the Obligation Check Box and located on Form 8038-G in Part II, line 19.
-
Field is valid if entries are "1" , "2" , "3" or "blank" .
-
Field length - 1 position
-
Field 0520 is the Obligation Lease Installment Check Box and located on Form 8038-G in Part II, line 20.
-
The field is valid if the entry is "1" or "blank" .
-
Field length - 8 positions
-
Field 0521A is the Maturity Date and is in YYYYMMDD format. It's located on Form 8038-G in Part III, line 21a.
-
To correct Field 0521A:
-
Correct any coding or transcription errors.
If Then more than one date is present, enter the latest date in Field 0321A. the maturity date is the same or prior to the Date of Issue, SSPND 211. blank, and can’t perfect it from the document, SSPND 211. the maturity date contains an invalid year (earlier than 1950 or after 2099), perfect from attachments. the invalid year can't be perfected, SSPND 211. -
-
Rejects will:
If Then a valid reply is received, Perfect the return. no reply or an invalid reply is received, -
Circle out the date if present and leave blank.
-
Enter CCC "3" and continue processing.
-
-
Field length - 15 positions
-
Field 0521B is the Entire Issue Price of the Bond and located on Form 8038-G in Part III, line 21b (total of lines 11 - 18z).
-
The field is numeric and transcribed in dollars only.
-
The field is invalid if blank.
-
The field will under print if the transcribed and generated amounts differ by more than $999.99 (+/-).
-
To correct Field 0521B:
If Then Field 0521B (line 21b) is blank, and there’s entries in lines 11-18z, -
Add the amounts on lines 11 through 18z.
-
Enter the total in Field 0521B and 0523.
at least one issue price amount can't be determined per IRM 3.12.26.8.1.1, SSPND 211. -
-
Rejects will:
If Then reply is received, perfect the return. the issuer indicates more than one issue price amount, correct using the issue price amounts as indicated in each Issue Price amount field. no reply, enter CCC "3" and enter "1" in Field 0518.
-
Field length - 15 positions
-
Field 0521C is the Stated Redemption Maturity Amount and located on Form 8038-G Part III, line 21c.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 4 positions
-
Field 0521D is the Weighted Average Maturity Years and located on Form 8038-G in Part III, line 21d.
-
The field is numeric only.
-
The field is valid if it’s blank.
-
Field length - 6 positions
-
Field 0521E is the Yield Percentage and located on Form 8038-G in Part III, line 21e.
-
The field is numeric or VR (variable rate) only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0522 is the Proceeds Accrued Interest Amount and located on Form 8038-G in Part IV, line 22.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0523 is the Proceeds of Entire Issue Amount and located on Form 8038-G in Part IV, line 23.
-
The field is numeric and transcribed in dollars only.
-
To correct Field 0523:
-
Correct any coding or transcription errors.
If Then Field 0523 (line 23) is blank, enter the amount from Field 0521B (line 21b), in Field 0523 (line 23). Field 0521B (line 21b) is blank, follow the correction procedures for Field 0521B (IRM 3.12.26.8.5.2). -
-
Field length - 15 positions
-
Field 0524 is the Proceeds Bond Issue Amount and located on Form 8038-G in Part IV, line 24.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Correct any coding or transcription errors.
If Then blank, perfect from the document or attachments. blank, and the computation is correct, (lines 24-28 equals line 29 and line 29 minus line 23 equal line 30), leave Field 0324 (Part IV, line 24) blank. blank and you’re unable to perfect from the document or attachments and the computations in lines 23 through 30 don’t match the entry on line 30, SSPND 211. -
Rejects will:
If Then a reply is received, -
Perfect the return.
-
Continue processing.
no reply or incomplete reply is received, -
Enter CCC "3" .
-
Continue processing return.
-
-
Field length - 15 positions
-
Field 0525 is the Proceeds Credit Enhancement Amount and located on Form 8038-G in Part IV, line 25.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank.
-
Field length - 15 positions
-
Field 0526 is the Proceeds Reserve Replacement Amount and located on Form 8038-G in Part IV, line 26.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0527 is the Proceeds Used to Currently Refund Prior Issues and located on Form 8038-G in Part IV, line 27.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0528 is the Proceeds for Advance Refund Amount and located on Form 8038-G in Part IV, line 28.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0529 is the Total Proceeds Amount and located on Form 8038-G in Part IV, line 29.
-
The field is numeric and transcribed in dollars only.
-
The field will under print if the transcribed and generated amounts differ by more than ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡.
-
To correct Field 0529:
-
Correct any coding or transcription errors.
If Then Field 0529 (line 29) is blank, and there are entries in Fields 0524 through 0528 (lines 24- 28), -
Add the amounts on Fields 0524 through 0528 (lines 24- 28).
-
Enter the total in Field 0529.
there’s an amount on Field 0529 (line 29), and Fields 0524-0528 (lines 24-28) is blank, enter the amount from Field 0529 (line 29) on Field 0524 (line 24). Fields 0524-28 (lines 24-28) don’t equal Field 0529 (line 29), -
Add Fields 0524-0528 (lines 24-28).
-
Enter the amount on Field 0529 (line 29).
-
-
Field length - 15 positions
-
Field 0530 is the Net Non Refunding Proceeds Amount and located on Form 8038-G in Part IV, line 30.
-
The field is valid if positive, negative, or blank
-
The field is numeric and transcribed in dollars only.
-
The field will under print if the transcribed and generated amounts differ by more than ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡
-
To correct Field 0530:
-
Correct any coding or transcription errors.
If Then Field 0530 (line 30) is blank, N/A or zero, -
Subtract Field 0529 (line 29) from Field 0523 (line 23).
-
Enter the results in Field 0530 (line 30).
subtracting Field 0529 (line 29) from Field 0523 (line 23) doesn't equal the amount on Field 0530 (line 30), Subtract Field 0529 (line 29) from Field 0523 (line 23) and enter the amount on Field 0530 (line 30). -
-
Section 06 alpha designators, title, location and field lengths are listed below:
Field Title Form 8038-G Field Lengths 0631 Weighted Average Currently Refunded Years Part V, Line 31 2 0632 Weighted Average Advance Refunded Years Part V, Line 32 2 0633 Refunded Bonds Call Date Part V, Line 33 8 0634 Refunded Bonds Issue Date Part V, Line 34 8 0635 State Volume Cap Issue Amount Part VI, Line 35 15 0636A Gross Proceeds Guaranteed Investment Contract (GIC) Amount Part VI, Line 36a 15 0636B GIC Maturity Date Part VI, Line 36b 8 0637 Proceeds Other Government Loan Amount Part VI, Line 37a 15 0638A Tax Exempt Issue Box Part VI, Line 37b Box 1 0638B Date of Master Pool Obligation Part VI, Line 37b 8 0638C EIN of Master Pool Obligation Part VI, Line 9 0639 Designated Issue Section 265 Box Part VI, Line 38 1 0640 Penalty Payment Election Indicator Box Part VI, Line 39 1 0641A Hedge Identifier Box Part VI, Line 40 1 0642 Hedge Super-Integrated Indicator Box Part VI, Line 42 1 0643 Issuer Established Procedures Nonqualified Box Part VI, Line 43 1 0644 Issuer Established Procedure to Monitor Section 148 Box Part VI, Line 44 1 0645A Portion of Proceeds used to Reimburse Expenditures Part VI, Line 45a 15 0645B Date Official Intent was Adopted Part VI, Line 45b 8 06SIG Signature Code Signature on return 1 06PRE Preparation Code Right margin of the Preparer PTIN line 1 06PSN Preparer PTIN Signature Block 9 06PEN Preparer EIN Signature Block 9 06PTN Preparer Telephone # Signature Block 10
-
Field length - 2 positions
-
Field 0631 is the Weighted Average Currently Refunded Years and located on Form 8038-G in Part V, line 31.
-
The field is numeric only.
-
The field is valid if it’s blank.
-
Field length - 2 positions
-
Field 0632 is the Weighted Average Advance Refunded Years and located on Form 8038-G in Part V, line 32.
-
The field is numeric only.
-
The field is valid if it’s blank.
-
Field length - 8 positions
-
Field 0633 is the Refunded Bonds Call Date, is in YYYYMMDD format and located on Form 8038-G in Part V, line 33.
-
The field is numeric only.
-
The field is valid if it’s blank.
-
Field length - 8 positions
-
Field 0634 is the Refunded Bonds Issue Date, is in YYYYMMDD format and located on Form 8038-G in Part V, line 34.
-
The field is numeric only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0635 is the State Volume Cap Issue Amount and located on Form 8038-G in Part VI, line 35.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0636A is the Proceeds GIC Amount and located on Form 8038-G in Part VI, line 36a.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 8 positions
-
Field 0636B is the GIC Maturity Date, is transcribed in YYYYMMDD format and located on Form 8038-G in Part VI, line 36b.
-
The field is numeric only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0637A is the Proceeds Other Government Loan Amount and located on Form 8038-G in Part VI, line 37a.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 1 position
-
Field 0638A is the Tax Exempt Issue Check Box and located on Form 8038-G in Part VI, line 37b, box.
-
The field is numeric.
-
The field is valid if entry is "1" or blank.
-
Field length - 8 positions
-
Field 0638B is the Date of Master Pool Obligation and is transcribed in YYYYMMDD format. It's located on Form 8038-G in Part VI, line 37b.
-
The field is numeric.
-
The field is valid if it’s blank.
-
Field length - 9 positions
-
Field 0638C is the EIN of Master Pool Obligation and located on Form 8038-G in Part VI, line 38c.
-
The field must be numeric.
-
The field is valid if it’s blank.
-
Field length - 1 position
-
Field 0639 is the Designated Issue Section 265 Check Box and located on Form 8038-G in Part VI, line 38.
-
The field must be numeric.
-
The field is valid if entry is "1" or blank.
-
Field length - 1 position
-
Field 0640 is the Penalty Payment Election Indicator Check Box and located on Form 8038-G in Part VI, line 39.
-
The field is numeric.
-
The field is valid if the entry is "1" or "blank" .
-
Field length - 1 position
-
Field 0641 is the Hedge Identifier Check Box and located on Form 8038-G in Part VI, line 40.
-
The field is numeric.
-
The field is valid if the entry is "1" or "blank" .
-
Field length - 1 position
-
Field 0642 is the Hedge Super-Integrated Indicator box and located on Form 8038-G in Part VI, line 42.
-
The field is numeric.
-
The field is valid if the entry is "1" or "blank" .
-
Field length - 1 position
-
Field 0643 is the Issuer Established Procedures Non-Qualified Check Box and located on Form 8038-G in Part VI, line 43.
-
The field must be numeric.
-
The field is valid if the entry is "1" or "blank" .
-
Field length - 1 position
-
Field 0644 is the Issuer Established Procedures to Monitor Section 148 Check Box and located on Form 8038-G in Part VI, line 44.
-
The field is numeric.
-
The field is valid if the entry is "1" or "blank" .
-
Field length - 15 positions
-
Field 0645A is the Portion of Proceeds Used to Reimburse Expenditures Amount and located on Form 8038-G in Part VI, line 45a.
-
The field is valid if it’s blank.
-
The field is numeric and transcribed in dollars only.
-
Field length - 8 positions
-
Field 0645B is the Date Official Intent was Adopted and is transcribed in YYYYMMDD format. It's located on Form 8038-G in Part VI, line 45b.
-
The field is numeric.
-
The field is valid if it’s blank.
-
Field length - 1 position
-
06SIG is the Signature Code and located in the right margin of the signature line.
-
As part of our response to the COVID-19 situation, a temporary deviation was implemented that allows taxpayers and representatives to use electronic or digital signatures when signing certain forms that currently require a handwritten signature. Effective immediately, electronic or digital signatures are acceptable on all Form 8038-G returns that are signed or postmarked on August 28, 2020 or later. The temporary guidance expires on October 31, 2023. Electronic and digital signatures appear in many forms when printed and may be created by many different technologies. No specific technology is required for this purpose during this temporary deviation.
-
Field 06SIG is invalid if:
-
Not numeric
-
The entry is other than "1" (signature present) or "3" (signature not present) after correspondence and no reply.
-
-
To correct Field 06SIG:
If Then a signature is present, enter a "1" in the right margin next to the signature block. only a signature is missing, SSPND 225. -
Rejects will:
If Then a valid reply is received, perfect the return by entering a "1" in Field 06SIG and enter the Correspondence Received Date, Field 01CRD. no reply or an incomplete reply is received, enter CCC "3" in Field 063SIG and enter a "3" in Field 01CCC.
-
Field length - 1 position
-
Field 06PRE is the Preparation Code and located in the right margin of the Preparer's PTIN line.
-
Field 06PRE - Preparation code is invalid if:
-
It isn’t numeric
-
The entry is other than "1" or "blank" .
-
-
Field length - 9 positions
-
Field 06PSN is the Preparer's PTIN and located in the paid preparer's signature block, in the Preparer's PTIN box.
-
The preparer's SSN must be a nine-digit number. A Preparer's Tax Identification Number (PTIN) is a valid entry in the preparer's Social Security Number or PTIN area at the bottom of Form 8038-G. The PTIN is nine digits beginning with the alpha "P" , followed by an eight-digit number (e.g., PXXXXXXXX).
-
Field 06PSN is invalid if:
-
The first position is other than numeric or a "P" .
-
The field is all zeroes or all nines or the first position is "P" and the remaining positions are all zeroes or all nines.
-
Other than the first position isn't numerics.
-
-
Field length - 9 positions
-
Field 06PEN, is the Preparer's EIN and located in the paid preparer's signature portion in the Firm's EIN box.
-
If present, The field may be any combination of numerics, except all zeros or all nines. The first character may be a "P" .
-
Field 06PEN is invalid if:
-
The first position is other than numeric.
-
The field is all zeroes or all nines.
-
-
Field length - 10 positions
-
Field 06PTN is the Preparer's Telephone Number and located in the paid preparer's signature portion, in the Firm's Phone no. box.
-
If present, the field is numeric.
-
The field is invalid if it’s not numeric.
-
To correct Field 06PTN:
If Then more than 10 digits are present, Continue processing, entering the first 10 digits only. the paid preparer's phone number is incomplete, illegible, or fewer than 10 digits, -
Review the return and all attachments.
-
If a complete paid preparer's phone number is located elsewhere on the return or attachments, edit to the phone number line.
a complete paid preparer's phone number isn't located or the number is illegible, Delete. Don’t attempt to correct the field. -
-
Section 07 alpha designators, title, location and field lengths are listed below:
Field Title Form 8038-GC Field Lengths 07BX Single or Consolidated Box Part II, Description of Obligations 1 078A Entire Issue Price Part II, Line 8a 15 079A For Leases for Vehicles Part II, Line 9a 15 079B For Leases for Office Equipment Part II, Line 9b 15 079C For Leases for Real Property Part II, Line 9c 15 079D For Other Leases Part II, Line 9d 15 079E For Bank Loans for Vehicles Part II. Line 9e 15 079F For Bank Loans for Office Equipment Part II, Line 9f 15 079G For Bank Loans for Real Property Part II, Line 9g 15 079H For Bank loans for Other Part II, Line 9h 15 079I Proceeds Current Refund Amount Part II, Line 9i 15 079J Proceeds Tax Exempt Amount Part II, Line 9j 15 079K Other Part II, Line 9k 15 0710 Designated Issue Section 265 Box Part II, Line 10 11 0711 Penalty Payment Election Indicator Box Part II, Line 11 1 0713 Vendor's or Bank's Employer Identification Number Part II, Line 13 9 07SIG Signature Code Signature on return 1 07PRE Preparation Code Right margin of the preparer PTIN line 1 07PSN Preparer PTIN Part II Signature block 9 07PEN Preparer EIN Part II Signature block 9 07PTN Preparer Telephone # Part II Signature block 10
-
Field Length - 1 position
-
Field 07BX is the Single or Consolidated Check Box and located on Form 8038-GC in Part II, Description of Obligations
-
The field is numeric.
-
The field is valid if the entry is "1" or "2" .
-
To correct Field 07BX:
Note:
It's imperative to follow these instructions as the due date on Form 8038-GC is computed based on the box that’s checked.
-
Correct any coding or transcription errors.
If Then the "Single Issue" box is checked, enter a "1" . the "Consolidated" box is checked, enter a "2" . no box is checked, refer to the procedures outlined below. the filers' original entry on Part II, line 8b prior to editing has a specific date other than 01/01/YYYY, enter a "X" in the single issue box. the filer's original entry on Part II, line 8b prior to editing has the specific date of 01/01/YYYY, enter a "X" in the consolidated basis box. the filers' original entry on Part II, line 8b prior to editing has only a year, enter a "X" in the consolidated basis box. there’s no entry in Part II, line 8b, enter SSPND 211. -
-
Rejects will:
If Then a reply is received, perfect the return. no reply, enter CCC "3" and enter "1" in Field 07BX.
-
Field length - 15 positions
-
Field 078A is the Entire Issue Price and located on Form 8038-GC in Part II, line 8a.
-
The field is numeric and transcribed in dollars only.
-
To correct Field 078A:
-
Correct any coding or transcription errors.
If Then Field 078A (line 8a) is blank, enter the total of Fields 079A through 079K (lines 9a-9k) in Field 078A. you’re unable to perfect it, SSPND 211. -
-
Rejects will:
If Then a reply is received, perfect the return. no reply, enter CCC "3" and enter "1" in Field 078A.
-
Field length - 15 positions
-
Field 079A is the For Leases for Vehicles Amount and located on Form 8038-GC in Part II, line 9a.
-
The field is valid if blank.
-
The field is numeric and transcribed in dollars only.
-
Field length - 15 positions
-
Field 079B is the For Leases for Office Equipment Amount and located on Form 8038-GC in Part II, line 9b.
-
The field is valid if it’s blank.
-
The field is numeric and transcribed in dollars only.
-
Field length - 15 positions
-
Field 079C is the For Leases for Real Property Amount and located on Form 8038-GC in Part II, line 9c.
-
The field is valid if it’s blank.
-
The field is numeric and transcribed in dollars only.
-
Field length - 15 positions
-
Field 079D is the For Other Leases Amount and located on Form 8038-GC in Part II, line 9d.
-
The field is valid if it’s blank.
-
The field is numeric and transcribed in dollars only.
-
Field length - 15 positions
-
Field 079E is the For Bank Loans for Vehicles Amount and located on Form 8038-GC in Part II, line 9e.
-
The field is valid if it’s blank.
-
The field is numeric and transcribed in dollars only.
-
Field length - 15 positions
-
Field 079F is the For Bank Loans for Office Equipment Amount and located on Form 8038-GC in Part II, line 9f.
-
The field is valid if it’s blank.
-
The field is numeric and transcribed in dollars only.
-
Field length - 15 positions
-
Field 079G is the For Bank Loans for Real Property Amount and located on Form 8038-GC in Part II, line 9g.
-
The field is valid if it’s blank.
-
The field is numeric and transcribed in dollars only.
-
Field length - 15 positions
-
Field 079H is the For Bank Loans for Other Amount and located on Form 8038-GC in Part II, line 9h.
-
The field is valid if it’s blank.
-
The field is numeric and transcribed in dollars only.
-
Field length - 15 positions
-
Field 079J is Proceeds from Another Tax Exempt Amount and located on Form 8038-GC in Part II, line 9j.
-
The field is valid if it’s blank.
-
The field is numeric and transcribed in dollars only.
-
Field length - 15 positions
-
Field 079K is Other Amount and located on Form 8038-GC in Part II, line 9k.
-
The field is valid if it’s blank.
-
The field is numeric and transcribed in dollars only.
-
Field length - 1 position
-
Field 0710 is the Designated Issue Section 265 Check Box and located on Form 8038-GC in Part II, line 10.
-
The field is numeric.
-
The field is valid if the entry is "1" or "blank" .
-
Field length - 1 position
-
Field 0711 is the penalty Payment Election Indicator Check Box and located in Part II, line 11.
-
The field is invalid if It's other than "1" or "blank" .
-
Field length - 9 positions
-
Field 0713 is the Vendor's or Bank's EIN and located in Part II, line 13.
-
The field is valid if it’s numeric or blank.
-
Field length - 1 position
-
Field 07SIG is the Signature Code and located in the right margin of the signature line.
-
As part of our response to the COVID-19 situation, a temporary deviation was implemented that allows taxpayers and representatives to use electronic or digital signatures when signing certain forms that currently require a handwritten signature. Effective immediately, electronic or digital signatures are acceptable on all Form 8038-GC returns that are signed or postmarked on August 28, 2020 or later. The temporary guidance expires on October 31, 2023. Electronic and digital signatures appear in many forms when printed and may be created by many different technologies. No specific technology is required for this purpose during this temporary deviation.
-
Field 07SIG is invalid if:
-
It’s not numeric.
-
The entry is other than "1" (signature present) or "3" (signature not present) after correspondence and no reply.
-
-
To correct Field 07SIG:
If Then a signature is present, enter a "1" in the right margin next to the signature block. only a signature is missing, SSPND 225. -
Rejects will:
If Then a valid reply is received, perfect the return by entering a "1" in Field 07SIG and enter the Correspondence Received Date, Field 01CRD. no reply or an incomplete reply is received, enter CCC "3" in Field 07SIG and enter a "3" in Field 01CCC.
-
Field length - 1 position
-
Field 07PRE is the Preparation Code and located in the right margin of the Preparer's PTIN line.
-
Field 07PRE is invalid if:
-
It’s not numeric
-
The entry is other than "1" or "blank" .
-
-
Field length - 9 positions
-
Field 07PSN is the Preparer's PTIN and located in the Paid Preparer's signature block, in the Preparer's PTIN box.
-
The preparer's SSN must be a nine-digit number. A preparer's Tax Identification Number (PTIN) is a valid entry in the preparer's Social Security Number or PTIN area at the bottom of Form 8038-GC. The PTIN is nine digits beginning with the alpha "P" , followed by an eight-digit number (e.g., PXXXXXXXX).
-
Field 07PSN is invalid if:
-
The first position is other than numeric or a "P" .
-
The field is all zeroes or all nines or the first position is "P" and the remaining positions are all zeroes or all nines.
-
Other than the first position isn't numerics.
-
-
Field length - 9 positions
-
Field 07PEN, is the Preparer's EIN and located in the Paid Preparer's signature portion in the Firm's EIN box.
-
The field may be any combination of numerics, except all zeros or all "nines" . The first character may be a "P" .
-
Field 07PEN is invalid if:
-
The first position is other than numeric.
-
The field is all zeroes or all nines.
-
-
Field length - 10 positions
-
Field 07PTN is the Preparer's Telephone Number and located in the Paid Preparer's signature portion, in the Firm's Phone no. box.
-
The field is numeric.
-
The field is invalid if it’s not numeric.
-
To correct Field 07PTN:
If Then more than 10 digits are present, Continue processing, entering the first 10 digits only. the paid preparer's phone number is incomplete, illegible, or fewer than 10 digits, -
Review the return and all attachments.
-
If a complete paid preparer phone number is located elsewhere on the return or attachments, edit to the "Phone No." line.
a complete paid preparer's phone number isn’t located or the number is illegible, Delete. Don’t attempt to correct the field. -
-
Section 08 Alpha Designators, Title, Location and Field Lengths are listed below:
Field Title Form 8328 Field Lengths 0801 Total Volume Cap Part II, Line 1 15 0802 Aggregate Section 146 Amount Part II, Line 2 15 0803 Total Volume Cap Exchanged Mortgage Credit Certificate Amount Part II, Line 3 15 0804 Total Volume Cap Allocated Bonds Amount Part II, Line 4 15 0805 Total Volume Cap Amount Part II, Line 5 15 0805> Total Volume Cap Amount under print Computer generated 15 0806 Total Unused Volume Cap Amount Part II, Line 6 15 0806> Total Unused Volume Cap Amount under print Computer generated 15 0807 Qualified student loan bonds Part II, Line 7 15 0808 Qualified mortgage bonds or mortgage credit certificates Part II, Line 8 15 0810a Mass commuting facilities Part II, Line 10a 15 0810b Water furnishing facilities Part II, Line 10b 15 0810c Sewage facilities Part II, Line 10c 15 0810d Solid waste disposal facilities Part II, Line 10d 15 0810e Qualified residential rental projects Part II, Line 10e 15 0810f Facilities for the local furnishing of electric energy or gas Part II, Line 10f 15 0810g Local district heating or cooling facilities Part II, Line 10g 15 0810h Qualified hazardous waste facilities Part II, Line 10h 15 0810i High-speed intercity rail facilities Part II, Line 10i 15 0810j Qualified enterprise zone facility bonds Part II, Line 10j 15 0810k Qualified broadband projects Part II, Line 10k 15 0810l Qualified carbon dioxide capture facilities Part II, Line 10l 15 0811 Total Carryforward Amount Part II, Line 11 15 0811> Total Carryforward Amount under print Computer generated 15 0812 Total Volume Cap Calendar Year Amount Part III, Line 12 15 0813 Total Section 142 Calendar Year Amount Part III, Line 13 15 0814 Unused Volume Cap Carryforward Amount Part III, Line 14 15 0814> Unused Volume Cap Carryforward Amount under print Computer generated 15 0815 Elected Carryforward Amount Part III, Line 15 15 0815> Elected Carryforward Amount under print Computer generated 15 08SIG Signature Code Signature on return 1
-
Field length - 15 positions
-
Field 0801 is the Total Volume Cap and located on Form 8328 in Part II, line 1.
-
The field is transcribed in dollars only.
-
The field is invalid if it's blank or non-numeric.
-
To correct Field 0801:
-
Correct any coding or transcription errors.
-
Enter the amount from Part II, Line 1 in Field 0801.
If And Then Field 0801 (Part II, line 1) is blank, Field 0815 (Part III, line 15) has an entry, enter "1" in Field 0801 and "1" in Field 0806. Field 0801 (Part II, line 1), Field 0815 (Part III line 15) is blank, SSPND 211. -
-
Rejects will:
If Then a reply is received, perfect the return. reply is incomplete or a no reply, enter CCC "3" and "1" in Field 0801.
-
Field length - 15 positions
-
Field 0802 is the Aggregate Section 146 Amount and located on Form 8328 in Part II, line 2.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0803 is the Total Volume Cap Exchanged Mortgage Credit Certificate Amount and located on Form 8328 in Part II, line 3.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0804 is the Total Volume Cap Allocated Bonds Amount and located on Form 8328 in Part II, line 4.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0805 is the Total Volume Cap Amount and located on Form 8328 in Part II, line 5.
-
This field is numeric and transcribed in dollars only.
-
This field will under print if the transcribed and generated amounts differ by more than ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡
-
To correct Field 0805:
-
Correct any coding or transcription errors.
If Then Field 0805 (line 5) is blank, and there are entries in Fields 0802 through 0804 (lines 2-4), -
Add the amounts on Fields 0802 through 0804 (lines 2-4).
-
Enter the total in Field 0805.
there is an amount on Field 0805 (line 5), and Fields 0802 through 0804 (lines 2-4) are blank, enter the amount from Field 0805 (line 5) on Field 0802 (line 2). the total of Fields 0802 through 0804 (lines 2-4) don’t equal Field 0805 (line 5), enter the total of Fields 0802 through 0804 (lines 2-4) on Field 0805 (line 5). -
-
Field length - 15 positions
-
Field 0806 is the Total Unused Volume Cap Amount and located on Form 8328 in Part II, line 6.
-
The field is numeric and transcribed in dollars only.
-
The field will under print if the transcribed and generated amounts differ by more than ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡.
-
To correct Field 0806:
-
Correct any coding or transcription errors.
-
Enter the amount from Part II, line 6 in Field 0806.
If And Then Field 0806 (Part II, line 6) is blank, Field 0815 (Part III, line 15) has an entry, Enter "1" in Field 0806 and "1" in Field 0801. Field 0806 (Part II, line 6), Field 0815 (Part III, line 15) are blank, SSPND 211. -
-
Rejects will:
If Then a reply is received, Perfect the return. reply is incomplete or no reply, -
Enter CCC "3" .
-
If subtracting line 5 from line 1 doesn't equal line 6, subtract line 5 from line 1 and enter the amount on line 6, Field 0806.
there are no entries, Enter a "1" on line 6, Field 0806. -
-
Field length - 15 positions
-
Field 0807 is the Qualified student loan bonds and located on Form 8328 in Part II, line 7.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0808 is the Qualified mortgage bonds or mortgage credit certificates and located on Form 8328 in Part II, line 8.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0809 is the Qualified redevelopment bonds and located on Form 8328 in Part II, line 9.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0810a is the Qualified redevelopment bonds and located on Form 8328 in Part II, line 10a.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0810b is the Water furnishing facilities and located on Form 8328 in Part II, line 10b.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0810c is the Sewage facilities and located on Form 8328 in Part II, line 10c.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0810d is the Solid waste disposal facilities and located on Form 8328 in Part II, line 10d.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0810e is the Qualified residential rental projects and located on Form 8328 in Part II, line 10e.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0810f is the Facilities for the local furnishing of electric energy or gas and located on Form 8328 in Part II, line 10f.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0810g is the Local district heating or cooling facilities and located on Form 8328 in Part II, line 10g.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0810h is the Qualified hazardous waste facilities and located on Form 8328 in Part II, line 10h.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0810i is the High-speed intercity rail facilities and located on Form 8328 in Part II, line 10i.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0810j is the Qualified enterprise zone facility bonds and located on Form 8328 in Part II, line 10j.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0810k is the Qualified broadband projects and located on Form 8328 in Part II, line 10k.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
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Field 0810l is the Qualified carbon dioxide capture facilities and located on Form 8328 in Part II, line 10l.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
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Field 0811 is the Total Carryforward Amount and located on Form 8328 in Part II, line 11.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if blank, if line 1, line 6, and lines 7 through 10j are blank, and line 15 has an entry.
-
The field is invalid if, after subtracting line 6 from line 11, the difference is ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡
-
To correct Field 0811:
-
Correct any coding or transcription errors.
If Then Field 0811 (line 11), and Fields 0807 through 0810J (lines 7-10j) are blank, but Part III, Fields 0812 through 0815 (lines 12-15) have an amount, -
Enter a "1" in Field 0811 (line 11).
-
Continue processing the return.
Field 0811 (line 11) is blank, and Fields 0807 through 0810J (lines 7-10j), a blank, and Part III, Fields 0812 through 0815 (lines 12-15) are blank, -
Enter a "1" in Field 0811 (line 11).
-
Continue processing the return.
Field 0811 (line 11) is blank, and there’s entries in Fields 0807 through 0810J (lines 7-10j), -
Add the amounts on Fields 0807 through 0810J (lines 7 - 10j).
-
Compare the total of Fields 0807 - 0810J, to the amount on Field 0806 (line 6).
-
If the total of Fields 0807 - 0810J is equal to or less than the amount on Field 0806, enter the total of Fields 0807 - 0810J in Field 0811.
the total of Fields 0807 - 0810J (lines 7 - 10j) is greater than Field 0806 (line 6), Enter the amount from Field 0806 (line 6) in Field 0811. -
-
Field length - 15 positions
-
Field 0812 is the Total Volume Cap Calendar Year Amount and located on Form 8328 in Part III, line 12.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0813 is the Total Section 142 Calendar Year Amount and located on Form 8328 in Part III, line 13.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 15 positions
-
Field 0814 is the Unused Volume Cap Carryforward Amount and located on Form 8328 in Part III, line 14.
-
The field is numeric and transcribed in dollars only.
-
The field will under print if the transcribed and generated amounts differ by ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡.
-
To correct Field 0814:
-
Correct any coding or transcription errors.
-
If Field 0814 (line 14) is blank and there are entries on Field 0812 (line 12) and Field 0813 (line 13), subtract Field 0813 from Field 0812 and enter the amount in Field 0814.
-
-
Field length - 15 positions
-
Field 0815 is the Elected Carryforward Amount and located on Form 8328 in Part III, line 15.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank, if there are amounts on line 1, line 6, and line 11.
-
The field is valid if the amount on line 15 is equal to or less than the amount on line 14.
-
The field is invalid if, after subtracting line 14 from line 15, the difference is more than ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡.
-
Field length - 1 position
-
Field 08SIG is the Signature Code and located in the right margin of the signature line.
-
Field 08SIG is invalid if:
-
It’s not numeric.
-
The entry is other than "1" (signature present) or "3" (signature not present) after correspondence and no reply.
-
-
To correct Field 08SIG:
If Then a signature is present, enter a "1" in the right margin next to the signature block. only a signature is missing, SSPND 225. -
Reject will:
If Then a valid reply is received, perfect the return by entering a "1" in Field 06SIG and enter the Correspondence Received Date, Field 01CRD. no reply or an incomplete reply is received, enter CCC "3" in Field 08SIG and enter a "3" in Field 01CCC.
-
Section 02 Alpha Designators, Title, Location and Field Lengths are listed below:
Field Title Form 8038-TC Field Lengths 02TYP Tax Credit Bond Code Part II, Line 1 3 02CBX Irrevocable Election
Check BoxPart II, Line 3 1 02IDT First Interest Payment Date Part II, Line 4 8 02IPF Interest Payment Date Frequency Code Part II, Line 5 1 0231 Issue Price Part III, Line 1 15 0232 Stated Redemption Price at Maturity Part III, Line 2 15 0233 Final Maturity Date Part III, Line 3 8 0234 Applicable Credit Rate Part III, Line 4 4 0235 Maximum Term Part III, Line 5 4 0236 Permitted Sinking Fund Yield Part III, Line 6 6 0237 Interest Rate on Bonds Part III, Line 7 6 0238A Variable Rate Check Box Part III, Line 8a 1 0241 Sales Proceeds Part IV, Line 1 15 0242 Proceeds Used for Bond Issuance Cost Part IV, Line 2 15 0243 Estimated Investment Proceeds Part IV, Line 3 15 0244 Expected Available Project Proceeds Part IV, Line 4 15 >>>> Expected Available Project Proceeds under print Part IV, Line 4 under print 15 0245 Matching Pledged Funds Part IV, Line 5 15 0246 Other Part IV, Line 6 15 0247 Total Proceeds Part IV, Line 7 15 025A Amount of Loans to Qualified Borrowers Part V, Line 1a 15 025B Written Loan Commitment Check Box Part V, Line 1b 1 025D EIN of Borrower Part V, Line 1d 9 0252 Land Part V, Line 2 15 0253 Buildings and Structures Part V, Line 3 15 0254 Equipment with Recovery Period > than 5 years Part V, Line 4 15 0255 Equipment with Recovery Period < than 5 years Part V, Line 5 15 0256 Grants Part V, Line 6 15 0257 Demonstration Projects Part V, Line 7 15 0258 Public Education Campaigns Part V. Line 8 15 0259 Repairs or Other Rehabilitation Expenditures Part V, Line 9 15 02510 Developing Course Materials and/or Staff Training Expenditures Part V, Line 10 15 02511 Pay Principle, Interest or Premiums on Qualified Bonds Part V, Line 11 15 02512 Refinance a Qualified Indebtedness Part V, Line 12 15 02513 Other Part V, Line 13 15 02514 Total Qualified Purpose Expenditures Part V, Line 14 15 >>>> Total Qualified Purpose Expenditures under print Part V, Line 14 under print 15 02515 Percentage of Available Project Proceeds Part V, Line 15 6 02516 Portion of Proceeds to Reimburse Issuer Part V, Line 16 15 02517 Date Official Intent was adopted Part V, Line 17 8
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Field length - 3 positions
-
Field 02TYP is the Tax Credit Bond (TCB) Code and located on Form 8038-TC in Part II, line 1.
-
Tax Credit Bond Codes 101, 106, 107 or 108 do not require a schedule.
-
This field will be invalid if it's blank or non-numeric.
-
To correct Field 02TYP:
-
Correct any coding or transcription errors.
-
Enter the code from Part II, line 1 in Field 02TYP.
Note:
Only TCB codes 102, 103, 104 and 105 require the applicable Schedule A, B, C or D (see table below).
If Then Field 02TYP (Part II, line 1) is blank, and there’s a code on the attached schedule in Field 04TCB, enter the code from the schedule in Part II, line 1, Field 02TYP. blank or Tax Credit Bond Code is different from the Form 8038-TC, Schedule A, B, C or D code, enter the code from the Form 8038-TC schedule. the Code in Field 02TYP and Field 04TCB do not match, refer to the description in Part II, line 2 and the table below for the applicable code based on description on line 2. blank or you can’t perfect it from the attachments, SSPND 211. If Enter Part II, line 2 reads "Qualified Forestry Conservation Bonds" , "101" in Field 02TYP and Field 04TCB. Part II, line 2 reads "New Clean Renewal Energy Bonds" , "102" in Field 02TYP and Field 04TCB. Part II, line 2 reads "Qualified Energy Conservation Bonds," "103" in Field 02TYP and Field 04TCB. Part II, line 2 reads "Qualified Zone Academy Bonds" , "104" in Field 02TYP and Field 04TCB. Part II, line 2 reads "Qualified School Construction Bonds" , "105" in Field 02TYP and Field 04TCB. Part II, line 2 reads "Clean Renewal Energy Bonds" , "106" in Field 02TYP and Field 04TCB. Part II, line 2 reads "Midwestern Tax Credit Bonds" , "107" in Field 02TYP and Field 04TCB. Part II, line 2 reads "Other" , "108" in Field 02TYP and Field 04TCB.
-
-
Rejects will:
If Then a valid reply is received, Perfect the return. no reply or an incomplete reply is received, -
Enter TCB code 108 in Field 02TYP.
-
Enter CCC "3" .
-
Continue processing the return.
-
-
Field length - 1 position.
-
Field 02CHBX is the Irrevocable Election Check Box and located on Form 8038-TC in Part II, line 3.
-
The field is valid if the entry is "1" or "blank" .
-
Field length - 8 positions
-
Field 02IDT is the First Interest Payment Date and is in YYYYMMDD format. It's located on Form 8038-TC in Part II, Line 4.
-
The field is numeric only.
-
To Correct Field 02IDT:
-
Correct any coding or transcription errors.
If Then more than one date is present, enter the earliest date shown on line 4. blank, enter from attachments (debt service schedule). you can’t perfect it from attachments, SSPND 211. -
-
Rejects will:
If Then a valid reply is received, Perfect the return. no reply or an invalid reply is received, -
Leave it blank.
-
Enter CCC "3" and continue processing the return.
-
-
Field length - 1 position.
-
Field 02IFPD is the Interest Payment Date (IPD) Frequency Code Check Box and located on Form 8038-TC, Part II, line 5.
-
The field is numeric.
-
Valid entries are 1, 2, 3, 4, 5 or blank.
-
To correct Field 02IFPD:
-
Correct any coding or transcription errors.
-
Enter the applicable IPD frequency code (see table below) from Part II, line 3 based on the specific check box that is marked, in Field 02IFPD.
If Then check box "5a - Annual" is marked, enter a "1" . check box "5b - Semi-Annual" is marked, enter a "2" . check box "5c - Quarterly" is marked, enter a "3" . check box "5d - Monthly" is marked, enter a "4" . check box "5e - Other" is marked, there must be an entry on line 5f. If a description is provided, enter the applicable code "1-5" based on the description provided on line 5f or from attachments (debt service schedule). blank, and more than one box is checked, enter from attachments (debt service schedule). you can’t perfect it from the attachments, SSPND 211. -
-
Rejects will:
If Then a valid reply is received, perfect the return. no reply or an invalid reply is received, -
Leave blank.
-
Enter CCC "3" and continue processing the return.
-
-
Field length - 15 positions
-
Field 0231 is the Issue Price of the Bond and located on Form 8038-TC in Part III, line 1.
-
The field is numeric and transcribed in dollars only.
-
The field is invalid if blank.
-
If the field is blank, Part IV, line 1 (Field 0241) is invalid.
-
To correct Field 0231:
-
Correct any coding or transcription errors.
If Then Field 0241 (Part III, line 1) is blank, there is an entry in Field 0241 (Part IV, line 1), enter the amount in Field 0241 in Field 0231. you can’t perfect it, SSPND 211. -
-
Rejects will:
If Then a valid reply is received, Perfect the return. no reply or an incomplete reply is received, -
Enter "1" in Field 0231 and Field 0241.
-
Enter CCC "3" and continue processing the return.
-
-
Field length - 15 positions
-
Field 0232 is the Stated Redemption Price at Maturity Amount and located on Form 8038-TC in Part III, line 2.
-
The field is numeric and transcribed in dollars only.
-
The field is valid if it’s blank.
-
Field length - 8 positions
-
Field 0233 is the Final Maturity Date, is in YYYYMMDD format and located on Form 8038-TC in Part III, line 3.
-
To correct Field 0233:
-
Correct any coding or transcription errors.
If Then more than one date is present, enter the latest date in Field 0233. the maturity date is the same as or prior to the Date of Issue, SSPND 211. blank, and you’re unable to perfect it, SSPND 211. the maturity date contains an invalid year (earlier than 1950 or after 2099), perfect it from attachments. the invalid year can't be perfected, SSPND 211. -
-
Rejects will:
If Then a valid reply is received, Perfect the return. no reply or an invalid reply is received, -
Circle out the date if present and leave blank.
-
Enter CCC "3" and continue processing the return.
-
-
Field length - 4 positions
-
Field 0234 is the Applicable Credit Rate and located on Form 8038-TC in Part III, line 4.
-
The field is numeric only.
-
The field is valid if it’s blank.
-
To correct Field 0234:
-
Correct any coding or transcription errors.
-
The entry can be in decimals out to the 2nd position as XX.XX and must be entered as such, filling in zeros before and after to equal 4 positions.
Examples:
1- Line entry is five and one half, you would enter 0550 in Field 0234.
2- Line entry is 10 3/4, you would enter 1075 in Field 0234.
3- Line entry is 5.26, you would enter 0526 in field 0234.
-
-
Field length - 4 positions
-
Field 0235 is the Maximum Term Years and located on Form 8038-TC in Part III, line 5.
-
The field is numeric only.
-
The field is valid if it’s blank.
-
To correct Field 0235:
-
Correct any coding or transcription errors.
-
The entry can be in decimals out to the 2nd position as XX.XX and must be entered as such, filling in zeros before and after to equal 4 positions.
Examples:
1- Line entry is five and one half, you would enter 0550 in Field 0235.
2- Line entry is 10 3/4, you would enter 1075 in Field 0235.
3- Line entry is 5.26, you would enter 0526 in field 0234.
-
-
Field length - 6 positions
-
Field 0236 is the Permitted Sinking Fund Yield (Percentage) and located on Form 8038-TC in Part III, line 6.
-
The field is numeric only.
-
The field is valid if it’s blank.
-
To correct Field 0236:
-
Correct any coding or transcription errors.
-
The entry can be in decimals out to the 4th position as XX.XXXX and must be entered as such, filling in zeros before and after to equal 6 positions.
Examples:
1- Line entry is five and one half, you would enter 055000 in Field 0236.
2- Line entry is 10 3/4, you would enter 107500 in Field 0236.
3- Line entry is 5.26, you would enter 052600 in field 0236.
-
-
Field length - 4 positions
-
Field 0237 is the Interest Rate on Bonds (Percentage) and located on Form 8038-TC in Part III, line 7.
-
The field is numeric only.
-
The field is valid if it’s blank.
-
To correct Field 0237:
-
Correct any coding or transcription errors.
-
The entry can be in decimals out to the 4th position as XX.XX and must be entered as such, filling in zeros before and after to equal 4 positions.
Examples:
1- Line entry is five and one half, you would enter 0550 in Field 0237.
2- Line entry is 10 3/4, you would enter 1075 in Field 0237.
3- Line entry is 5.26, you would enter 0526 in field 0237.
-