3.12.26 Tax Exempt Bond Error Resolution Procedures

Manual Transmittal

December 4, 2018

Purpose

(1) This transmits revised IRM 3.12.26, Error Resolution, Tax Exempt Bond Error Resolution.

Background

The instructions in this IRM are used for correcting errors made by filers of Tax Exempt Bond (TEB) returns (Forms 8038, 8038-G, 8038-GC, 8038-T, 8038-B, 8038-TC, 8038-CP, 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) All dates changed to reflect processing year 01-01-2019.

(2) Minor editorial changes made throughout this IRM (e.g., line number updates, spelling, punctuation, links, etc.).

(3) Added new subsection 3.12.26.1 relating to "Program Scope and Objectives" and renumbered all subsequent subsections.

(4) Incorporated IPU 18U0943 issued 06-14-2018 IRM 3.12.26.11.7.2 - Removed Form 8328 routing procedures from the "If/Then" table located in paragraph (1).

(5) Incorporated IPU 18U0701 issued 04-24-2018 IRM 3.12.26.11.7.2 - Paragraph (1) correction procedures revised in the "If/Then" table for Form 8328, Field 0811 (line 11) and Part III, Field 0812 through 0815 (lines 12-15) entries.

Effect on Other Documents

This supersedes IRM 3.12.26 dated January 1, 2018.
This IRM also incorporates the following IRM Procedural Updates (IPU): IPU 18U0701; 18U0943

Audience

Wage and Investment (W &I)
Error Resolution and Rejects functions
Ogden Submission Processing Employees

Effective Date

(01-01-2019)

Justin L. Abold-Labreche
Acting Director, Government Entities/Shared Services
Tax Exempt and Government Entities

Program Scope and Objectives

  1. This IRM section provides instructions for Wage and Investment Error Resolution Tax Examiners to correct errors for the returns below:

    • Form 8038, Information Return for Tax Exempt Private Activity Bond Issues;

    • Form 8038-G, Information Return for Tax Exempt Governmental Obligations;

    • 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 8328, Carryforward Election of Unused Private Activity Bond Volume Cap;

    • Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds;

    • Form 8038-B, Information Return for Build America Bonds and Recovery Zone Economic Development Bonds;

    • Form 8038-TC, Information Return for Tax Credit Bonds;

    • Form 8703, Annual Certification of a Residential Rental Project

  2. 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.

  3. Audience: Wage and Investment (W&I), 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.

  4. Policy Owner: Director, Government Entities/Shared Services, Business Systems Planning, Tax Exempt and Government Entities.

  5. Program Owner: Tax Exempt and Government Entities (TE/GE) Submission Processing Programs (SPP).

  6. 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 (TEGE)

  7. Program Goals: Correct any errors that are identified using the Error Resolution System (ERS).

Service Level Agreements (SLAs)

  1. 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.

  2. The TAS SLA contains:

    1. basic requirements for handling TAS-referred cases,

    2. includes specific actions to be taken on TAS referrals and specific time frames for completing those actions.

Service Level Agreements (SLAs)

  1. You can find:

    1. The SLAs at http://www.irs.gov/pub/tas/sla_tas_tege_2009-05-29.pdf.

    2. Procedures in IRM 13, Taxpayer Advocate Service.

Taxpayer Advocate Service (TAS) Operations Assistance Requests (OARs)
  1. TAS uses:

    1. The Operation Assistance Request (OAR) process to refer cases when TAS lacks either the statutory or delegated authority to resolve a taxpayer's problem.

    2. Form 12412, Operations Assistance Request, to initiate the OAR process.

  2. In cases requiring an OAR, TAS completes the form and forwards the case to the Operating Division Liaison:

    1. Reviews the case.

    2. Assigns it to the appropriate area.

    3. Monitors the case through its conclusion.

  3. The Operating Divisions and Functions:

    1. Acknowledge receipt and provides the name and phone number of the assigned IRS employee within one (1) workday of receipt of the OAR involving a case, criteria 1 - 4.

    2. Provides a relief/no relief decision within three (3) workdays of acknowledging receipt of an OAR. The decision is sent in writing, via facsimile, or hand delivered to the TAS case advocate.

  4. The Operating Divisions and Functions acknowledge receipt and provide the assigned IRS employee’s name and phone number within three workdays of receiving the OAR involving a systemic or procedural criteria 5 - 7. The TAS employee negotiates a reasonable time frame with the IRS employee to resolve the case.

  5. Make every effort to complete OAR cases as soon as possible. Form 12412 lists the time frames for the assigned area to complete the case.

    1. Assigned employee: If unable to resolve the taxpayer's case by the requested time frame or by a negotiated extension date, immediately notify your manager.

    2. Assigned employee/manager: Work with the Taxpayer Advocate contact listed on Form 12412 to agree on follow-up time frames based on the case’s facts and circumstances.

    3. Assigned employee/manager: Discuss your findings and recommendations on the case’s final disposition with the appropriate TAS contact. The TAS contact communicates the final case decision to the taxpayer. This doesn’t prohibit you from also telling the taxpayer.

    4. Assigned employee/manager: If you and the TAS contact can’t agree how to resolution the taxpayer's problem, the TAS employee elevates this disagreement to his/ her manager who discusses it with the appropriate Operating Division manager. You should elevate any disagreement to your manager.

  6. For more detailed information, please refer to: IRM 13, Taxpayer Advocate Service and http://www.irs.gov/pub/tas/sla_tas_tege_2009-05-29.pdf

  7. Assigned employee: Upon case resolution, complete section VI of Form 12412, Operations Assistance Request, and return it to the TAS Case Advocate assigned the case. Return The Form 12412 within three (3) workdays of the date when you complete all actions and the transactions post.

Background

  1. Error Resolution Systems (ERS) examiners use the instructions in this subsection to correct errors made by:

    1. Taxpayers

    2. Their representatives

    3. Tax Exempt Bond (TEB) Submission Processing Center operations which is centralized at the Ogden Campus.

  2. 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.

  3. These forms are filed and processed only at the Ogden Submission Processing Campus (OSPC).

  4. Records appear on ERS inventory because of validity, consistency, and math, and/or input error. There are no math error checks in this section.

  5. To expedite resolution, you can call the filer to resolve problems with ERS inventory.

General Requirements

  1. To use this IRM, you must also be familiar with:

    1. IRM 3.11.26, Miscellaneous Tax Exempt and Government Entities (TE/GE) Returns, which provides document perfection (Code and Edit) procedures.

    2. IRM 3.24.26, Miscellaneous Tax Exempt and Government Entities (TE/GE) Returns, for DIS input of the ISRP system, and

    3. IRM 3.12.38, ERS General Instructions.

  2. Records are placed into Error Resolution or Rejects inventories for correction.

  3. Once a record is accessed and displayed on the screen, resolve it any of these ways:

    1. Fully correct the record.

    2. Place the record in suspense until additional information is received.

    3. Reject the record from pipeline processing.

  4. 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.

  5. In the header portion of each record, the error screen displays will show:

    1. Document Locator Number (DLN),

    2. Employer Identification number (EIN),

    3. Name Control or Check Digit

  6. Before you make corrections to the error screen displays, verify that the DLN of the display matches the DLN of the document.

  7. If you determine that a "mixed data" situation exists, stop processing and give the block of work to your manager. Management will either:

    1. Determine if the mixed data can be corrected via the terminal screen display.

    2. Take action to have the block deleted and re-entered.

  8. When making corrections to the screen display, be sure money amounts within a section have been transcribed in dollars only, or in dollar and cents according to the requirements shown in the instructions for each section.

  9. You may use these procedures when the TE/GE Submission Processing Program staff analyst with oversight approves them:

    1. Any instructions written at the campus (i.e., desk procedures) to clarify the IRM 3.12.26, Tax Exempt Bond Error Resolution Procedures.

    2. Paragraphs created at the campus when the IRM doesn't request an open paragraph be used.

BMF Consistency

  1. Our goal is to achieve consistency in the Business Master File (BMF) ERS processing IRMs.

  2. Cincinnati, Ogden, and Paper Processing Branch BMF Code & Edit/ERS Section coordinate the effort to identify topics for BMF Consistency.

  3. This IRM identifies BMF Consistency subsections are identified by a "♦" (diamond) before and after the subsection title.

  4. 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.

TEB Background

  1. The Tax Reform Act of 1986 required:

    1. 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.

    2. That municipal bonds meet certain rules for the interest received by the bondholders to be exempt from federal income tax.

  2. The table below provides the specific form type, MFT, Document Code (Doc. Code) and valid Report Number range as it applies 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-G 46 62 300 - 399
    8038-GC 46 72 500 - 599
    8038-T 46 74 700 - 799
    8328 46 75 900 - 999
    8038-CP 46 88 800 - 899,
    200 - 299,
    or 400 - 499
    8038-B 85 85 100 - 499
    8038-TC 86 86 100 - 499
    8703 84 01 100 - 999
Purpose of Form
  1. 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.

  2. Form 8038-G,Information Return for Tax Exempt Governmental Obligations, 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).

  3. 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).

  4. 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.

  5. 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 carryforward purposes (see Section 146(f)). Form 8328 may also be used by a state to carryforward the unused volume cap under Section 142(k).

  6. 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.

  7. 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).

    Note:

    Effective December 31, 2010, this form is no longer used as Build America Bonds and Recovery Zone Economic Development Bonds.

  8. 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).

  9. 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.

Description of Bonds
  1. Municipal Bonds can be classified as tax exempt (government or qualified private activity bonds) or taxable (other private activity bonds).

  2. 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:

    1. 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.

      Example:

      Funds used to build and maintain highways, schools, government buildings (e.g., courthouses), or sewer and water facilities.

    2. 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
      Docks and wharves
      Mass commuting facilities
      Facilities for the furnishings of water
      Sewage facilities
      Solid waste disposal facilities
      Qualified residential rental projects
      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

      Example:

      A county needs a nursing home in its community. It loans bond proceeds to a section 501(c)(3) corporation who will construct and operate the facility.

    3. Pooled financing may involve proceeds of governmental bonds or certain types of private activity bonds. In a pooled financing, the proceeds of the issuer loans the bonds to more than one borrower. The borrower of the proceeds may be tax exempt organizations or other state or local governments.

      Example:

      A school district issues a bond for multiple schools within its district. One school uses the proceeds to buy computer equipment. Another school uses the proceeds to construct administrative offices.

    4. Registered Warrants are a short term obligation (30 - 60 day bond) of a municipality.

    5. 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.

    6. Commercial Paper Program is a program to issue commercial paper to finance or refinance the same governmental purpose pursuant to a master legal document.

    7. 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.

    8. Lease Installment Sales are unconditional sales agreements under which a municipal government leases equipment that it acquires at the end of the lease period.

    9. 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.

    10. 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.

      Note:

      This is similar to a home equity loan of a homeowner.

    11. 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.

    12. 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).

  3. 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.

  4. 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.

  5. Income from certain obligations of states and their political subdivisions may likewise be excluded from gross income. Such obligations include:

    1. Installment sales contracts

    2. Equipment leases

    3. Bank loans

Definitions
  1. 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-TC and Form 8038-CP (when required).

Types of Errors

  1. ERS identifies the error according to type and priority. The record heading will show the type of error.

  2. 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.

  3. Enter the section using CC "GTSEC" , and the missing data.

    1. Priority I (Action Code (AC) Errors): When an AC is assigned to a return, it displays as a Priority I error.

    2. 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, or

    3. 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.

    4. Priority III (Field Validity Errors): Any field failing to meet the requirements that displays as a Priority III error.

    5. Priority IV (Error Code -(Math and Consistency Errors) - When a record is assigned an error code because of a math error.

Action Code Error - Priority I

  1. All records assigned an incorrect action code are displayed as a Priority I error. Errors and correction procedures is explained in this section:

    1. If the AC is valid (except 001), it’ll be placed in the reject inventory.

    2. If the AC is invalid or is 001, it’ll be placed in the error inventory.

Section Errors - Priority II

  1. There are two types of Priority II Errors: "ISRP" and "TERMINUS" Errors. Error and correction procedures is explained in this section.

ISRP (Integrated Submission & Remittance Processing) Errors
  1. An" ISRP" error is detected by the Integrated Submission and Remittance Processing.

  2. The display for the ISRP error includes the code identifying the type of ISRP error.

    1. "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.

    2. "3" - Invalid section ending point.

    3. "4" - Invalid field length.

    4. "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.

  3. 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.

ISRP Error Correction Procedures
  1. Check all fields of the section and verify that fields are entered as coded.

    1. If no correction is needed, or once the section is correct, drop to the bottom of the screen and transmit.

    2. If the section needs to be deleted, enter Command Code "DLSEC" with the section number.

Terminus Error
  1. A "terminus" error occurs when a section with variable length input fields contains an erroneous sized field.

  2. When displayed, a terminus error will show all input fields of the terminus section.

    1. Transcribed data is present.

    2. Computer generated fields or remittance field for Section 01 won’t be present.

Terminus Error Correction Procedures
  1. Examine and make necessary corrections to all fields present for the section.

  2. If the section needs to be deleted, use command code DLSEC to delete the section.

  3. If no correction is required, drop to the bottom of the screen and transmit.

Field Errors Priority III

  1. 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:

    1. Non-alphabetical character in an alpha field

    2. Blank space in a numeric field.

    3. Blank in the first position of an alpha field.

    4. Non-numeric character in a numeric field.

    5. A required field is blank.

Priority III Error Display Order
  1. All fields with a Priority III error will be displayed in the order encountered in the record.

  2. This chapter lists the fields, errors and correction procedures for Priority III errors for the following forms.

    • Form 8038

    • Form 8038-G

    • Form 8038-GC

    • Form 8038-T

    • Form 8328

    • Form 8038-CP

    • Form 8038-B

    • Form 8038-TC

    • Form 8703

  3. Unless otherwise stated the fields are valid for the above forms.

Action Code 001

  1. 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.

Clear Fields "C" and "000"

  1. 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.

  2. Error codes that need a clear field are cleared by either correcting the condition or entering a "C" to indicate no correction is needed.

  3. Clear field "C" is also used for clearing the action codes after corrections for the AC have been completed.

  4. ""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).

  5. Programming erases all "C" clear fields for error codes when a record is suspended with the command code "SSPND" .

  6. Programming erases all "C" clear fields for error codes and action codes for the new day's error and workable suspense inventories.

    Note:

    Unfinished records from the previous day won’t contain the "C" clear fields that were assigned to a record that wasn’t completely worked.

  7. Error codes (including the ones which may require a "C" clear field) are numbered consecutively in order for correcting.

Reject Correction

  1. Perfect, if possible, through research or taxpayer contact, any document on which entries are erroneous, incomplete or missing, and continue processing.

  2. If a correspondence letter is returned as undeliverable, compare the address on the letter with the address on the return.

    1. If different, re-send the letter to the address on the return.

    2. If the same, research INOLES for a different address.

  3. If the address on INOLES is different or there is a location address, re-send the letter to the new address.

  4. If the address on INOLES is the same as the return, and no better address can be found, treat as a no reply.

  5. If the letter is undeliverable a second time using the new address, treat as a no reply.

  6. If the taxpayer doesn't reply to a request for information, enter CCC "3" .

  7. 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.

Re-entry Document

  1. 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:

    1. Document 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.

    2. Document was unpostable on initial input, and the unpostable situation can only be corrected by re-input of document.

    3. Document posted to wrong account or module, and the document must be re-entered to post to the proper account or module.

Control of Re-entry Document
  1. 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.

  2. Form 3893 is used for re-input control of a document under its original DLN.

    1. If a single document is being re-input, Form 3893 will be attached to the face of the document.

    2. 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.

Form 8038-CP Sequestration Manual Refund Procedures

  1. 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 2018 is reduced by 6.2%. The sequestration reduction rate will be applied until the end of the fiscal year (September 30, 2019) or intervening Congressional action, at which time the sequestration rate is subject to change.

  2. During annual implementation of the revised sequestration percentage rate it will be necessary to hold all Forms 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). Manual refunds may be required during the holding period in order to meet an IPD at the applicable sequestration percentage rate.

  3. When it is determined that a manual refund is required (i.e., IPD expiration and/or 45-day interest free period is in jeopardy), the originator must 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 can be found in IRM 3.12.38.5.4 and IRM 21.4.4 must be followed.

  4. When it is determined that a manual refund is required due to:

    • the 45-day jeopardy period, or

    • the credit payment is over ≡ ≡ ≡ ≡ ≡ dollars, or

    • pending an IPD during the sequestration rate revision hold period,

    then the credit payment must be manually computed to determine the correct reduced refundable amount. Offsets must be taken into consideration and only apply if the entity in Part I and Part II are the same. An excel spreadsheet with the sequestration computation formula is provided annually by the TEGE HQ Program analyst. This spreadsheet must be used when computing the sequestration amount and attached to the manual refund documentation.

  5. The sequestered amount is computed by:

    1. Subtracting tax, penalties and interest (if applicable) from the original credit payment amount on line 22.

    2. Reducing line 22 by 6.2% and subtracting the sequestered amount from the initial (or as computed above) credit payment on line 22.

    3. Subtract all offsets or credit elects (if applicable) from the recomputed line 22 amount. The results will be the correct credit amount to be refunded.

    4. Prepare manual refund using applicable Form 5792 or Form 3753 (refer to IRM 3.12.38).

    5. In the remarks section of the Form 5792, indicate "Credit payment amount is reduced by 6.6% due to sequestration" .

    6. 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 and attach a copy of the computation to the return.

    7. 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.

  6. Copies of both the sequestration rate Excel computation sheet and Form 8038-CP with "Copy Do Not Process" annotated on the return must be attached to the manual refund documentation.

  7. Additional research may be required to ensure a prior refund has not been issued for the same tax period and report number as shown on the Form 8038-CP. If it appears a return and refund was previously posted to the tax period and report number, contact GECU 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 GECU management. Prepare manual refund on sequestered amount.

  8. During normal processing periods manual refunds over ≡ ≡ ≡ ≡ ≡ ≡ must be held until they are within three weeks of the IPD.

Preparation of Form 3753 for Form 8038-CP IDRS Generated Refund
  1. Form 3758 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

  2. Form 3753 will be prepared in triplicate. Two copies should 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.

  3. 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

    Note:

    Both Form 5792 and Form 3753, must be reviewed to verify that the manual refund is appropriate, proper IDRS research was completed, and that the form was completed accurately. The Approving Official’s signature certifies to the Accounting Function that the form was reviewed and is correct.

  4. 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.

  5. Place completed Form 5792 or Form 3753 in the designated basket for review and signature of approving official. Refer to IRM 21.4.

Preparation of Form 5792 for Form 8038-CP IDRS Generated Refund
  1. 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 should 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.

  2. 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.

    Note:

    If the address on Form 5792 does not match the address on Master File, an explanation must be provided in the "Remarks" section of the form. Annotate "Form 8038-CP - Refund issued to different address" .

    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.
  3. 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.

  4. Place completed Form 5792 or Form 3753 in the designated basket for review and signature of approving official. Refer to IRM 21.4.

General Correction Procedures for Form 8038, Form 8038-G,
Form 8038-GC, Form 8038-T, Form 8038-B, Form 8038-TC,
Form 8328 and Form 8703

  1. This section provides field descriptions and instructions for correcting error and reject conditions for:

    • Form 8038,

    • Form 8038-G,

    • Form 8038-GC,

    • Form 8328,

    • Form 8038-T,

    • Form 8038-B,

    • Form 8038-TC, and

    • Form 8703

Section 01 - Form 8038, Form 8038-G, Form 8038-GC, Form 8328,
Form 8038-T, Form 8038-B, Form 8038-TC and Form 8703

  1. Listed below are the fields contained in Section 01 showing the Field Designator, Title, Field Location on the return, and the Maximum Length:

    Section 01
    Field Title Form 8038 &
    Form 8038-G
    Form 8038-GC Form 8328 Form 8038-B Form 8038-T Form 8038-TC Form 8703 Field Lengths
    RMIT Remittance Amount N/A N/A N/A N/A Blue or
    Green Money Amount
    N/A N/A 11
    01NC Name Control Part I, Line 1 Part I, Line 1 Part I Part I, Line 1 Part I, Line 1 Part I, Line 1 Part I 4
    >>>> Name Control under print               4
    01EIN Employer Identification Number Part I, Line 2 Part I, Line 2 Part I Part I, Line 2 Part I, Line 2 Part I, Line 2 Part I 9
    01TXP Tax Period Not edited, populated from Part I, Line 7, Date of Issue Top right side of return To right side of return Not edited, populated from Part I Line 7, Date of Issue 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 6
    01RPT Report Number Part I, Line 5 Part I, Line 5 Part I Part I, Line 4 Part I, Line 4 Part I, Line 4 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 8a Part II, dotted portion of Line 1 Part II, dotted portion of Line 1a Part II, dotted portion of Line 12 Part III, 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 Right of Line 6 Right of City, State and ZIP Code Line Entity Section, lower portion Right of Line 7 Entity Section, lower portion Right of Line 10a 8
    01NM1 Issuers Name Part I, Line I Part I, Line 1 Part I Part I, Line 1 Part I, Line 1 Part I, Line 1 N/A 35
    01NM2 Issuers Second Name Line Undefined Undefined Undefined Undefined Entity Section Undefined N/A 35
    01CON In Care of Name Line Undefined Undefined Undefined Part I, Line 3 Entity Section Part I, Line 3 N/A 35
    01FAD Foreign Address Undefined Undefined Undefined Undefined Entity Section Undefined Undefined 35
    01ADD Street Address Part I, Line 4 Part I, Line 3 Part I Part I, Line 5 Part I, Line 3 Part I, Line 5 Part I 35
    01CTY City Part I, Line 6 Part I, Line 4 Part I Part I, Line 6 Part I, Line 5 Part I, Line 6 Part I 22
    01ST State Part I, Line 6 Part I, Line 4 Part I Part I, Line 6 Part I, Line 5 Part I, Line 6 Part I 2
    01ZIP ZIP Code Part I, Line 6 Part I, Line 4 Part I Part I, Line 6 Part I, Line 5 Part I, Line 6 Part I 12
    01INM Name of Issue Part I, Line 8 N/A N/A Part I, Line 8 Part I, Line 7 Part I, Line 8 N/A 35
    01DTI Date of Issue Part I, Line 7 Part II, Line 8b N/A Part I, Line 7 Part I, Line 6 Part I, Line 7 N/A 8
    01CUS CUSIP Number Part I, Line 9 N/A N/A Part I, Line 9 Part I, Line 8 Part I, Line 9 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
  2. 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 04-2011
    8038-G 09-2011
    8038-GC 01-2012
    8038-T 04-2011
    8328 09-2011
    8038-B 01-2010
    8038-CP 01-2012
    8038-TC 11-2012
    8703 09-2013

Field RMIT>
Remittance Amount

  1. Field length - 11 positions.

  2. 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 01NC
Name Control

  1. Field length - 4 positions

  2. Field 01NC, Name Control, is edited (underlined) from Part I.

  3. This field must have 1 to 4 characters (alpha, numeric, ampersand, hyphen).

  4. This field may have 1 to 3 blanks.

  5. The name control is validity checked.

Field 01NC
Invalid Conditions
  1. The name control is invalid if it has any of these:

    1. The 1st position is other than a letter or number, or

    2. The 2nd, 3rd and 4th positions contains characters other than letters, numbers, ampersands (&), hyphens (-), blanks,

    3. Any character follows a blank.

Field 01NC
Correction Procedures
  1. To determine the correct name control see IRM 3.13.2, BMF Account Numbers.

  2. 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.

Name Control
under print
  1. 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).

  2. The name control under print will be removed when the following occurs:

    1. The name control under print and the entry in Field 01NC agree.

Correction Procedures
  1. 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.

    Exception:

    For Form 8038-CP, contact GECU to validate the 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 01EIN
Employer Identification Number

  1. Field length - 9 positions

  2. Field 01EIN is the EIN and located in Part I.

Field 01EIN
Invalid Conditions
  1. This field is invalid if any of the following conditions are present:

    1. The field isn't present or isn't all numeric.

    2. The EIN is all zeros or all nines.

    3. The first two digits are 00, 07 - 09, 17 - 19, 28, 29, 49, 78, 79 or 89.

Field 01EIN
Correction Procedures
  1. 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, 1) Research MF using NAMEE & NAMEB.
    2) If a valid EIN is located, correct Field 01EIN.
    research locates two EINs, 1) Research using CC INOLES for both EINs.
    2) 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.
  2. 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 01TXP
Tax Period

  1. Field length - 6 positions

  2. 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.

  3. The tax period isn't edited on Form 8038, Form 8038-G, Form 8038-B, Form 8038-T and Form 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.

  4. The tax period isn't edited on Form 8038-CP. Use the "Interest Payment Date" to determine the tax period on Form 8038-CP.

Field 01TXP
Invalid Conditions
  1. This field is invalid if:

    1. It’s all blank.

    2. It’s not all numeric.

    3. The year is after the current year.

    4. The year is before 198501 on Form 8038, Form 8038-G, and Form 8038-GC.

    5. The year is before 03-18-2010 for Form 8038-TC.

    6. The year is before 02-17-2009 for Form 8038-B and Form 8038-CP.

    7. The year is before 200712 for Form 8703.

    8. The year is before 195401 on Form 8038-T.

    9. 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.

Field 01TXP
Correction Procedures
  1. Correct any coding or transcription errors.

    Form 8038, Form 8038-G,
    Form 8038-GC, and Form 8038-T
    If Then
    the tax period hasn’t been edited, enter the Date of Issue in YYYYMM format.

    Note:

    If Date of Issue is April 12, 2011, Field 01TXP is 201104.

    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 8328
    If Then
    the tax period hasn’t been edited, enter the calendar year preceding the year the return is filed in YYYYMM format.

    Example:

    If return is received in May 2012, enter 201112 in Field 01TXP.

    Form 8038-B
    If Then
    the tax period hasn’t been edited, enter the Date of Issue in YYYYMM format.

    Note:

    If Date of Issue is April 12, 2011, Field 01TXP is 201104.

    the Date of Issue is prior to 02/17/2009, 1) Edit ERS AC 211.
    2) After a reply is received enter the date in 01TXP and 01DTI, and enter the Correspondence Received date in 01CRD.
    3) If no reply is received, enter CCC 3 in 01CCC, and enter the signature date in the Date of Issue and Tax period.
    4) 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
    If Then
    the tax period hasn’t been edited, enter the Date of Issue in YYYYMM format.

    Example:

    If Date of Issue is April 12, 2011, Field 01TXP is 201104.

    the Date of Issue is prior to 12/31/2008, 1) Edit ERS AC 211.
    2) After a reply is received enter the date in 01TXP and 01DTI, and enter the correspondence received date in 01CRD.
    3) If no reply is received, enter CCC "3" in 01CCC, and enter the signature date in the date of issue and tax period.
    4) 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).

    Example:


    Tax Period: (blank)
    Date of Issue: (blank)
    Signature Date: (blank)
    IRS Received Date: Feb. 2, 2011
    Minus Ten Days: Jan. 23, 2011
    Date of Issue: 01/23/2011
    Tax Period: 201101

    Form 8703
    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.
  2. 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 4 months after today's date, SSPND 480.
    the tax period is 4 months or more in the future, SSPND 211.
  3. Rejects will:

    If Then
    the tax period is less than 4 months 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 4 months or more in the future, and a reply is received, perfect the return.
    the tax period is 4 months or more in the future, and no reply is received, enter the signature date as the tax period date.
    the tax period is 4 months or more in the future, and the signature date is missing, enter the IRS received date minus ten days.

Field 01RPT
Report Number

  1. Field length - 3 positions

  2. Field 01RPT is the Report Number located in Part I of each return.

  3. 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-G 300 - 399
    8038-GC 500 - 599
    8038-T 700 - 799
    8328 900 - 999
    8038-B 100 - 499
    8038-TC 100 - 499
    Form 8038-CP 800 - 899
    200 - 299 or
    400 - 499
    Form 8703 100 - 999
Field 01RPT
Invalid Conditions
  1. This field will be invalid if blank or not within the range identified above for each form.

Field 01RPT
Correction Procedures
  1. Correct any coding or transcription errors.

  2. 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.

    Example:

    Form 8038
    Edited report number is 001 (invalid range for this form)
    Tax Period: 201012
    Report numbers already used for that tax period (per IDRS): 100, 105 and 111.

  3. 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.

    Exception:

    If Form 8328 has wording written across the top similar to ""Carryforward of 2008 Housing Act Volume Cap" " edit 999 as the report number no matter where the document is located in the batch.

    Reminder:

    Form 8038-CP report numbers are assigned by GECU only.

Field 01CCC
Computer Condition Codes

  1. Field length - 10 positions

  2. 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-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 8328: Part II, dotted portion of line 1.

    • Form 8038-CP: Part III, dotted portion of line 19a.

    • Form 8038-B: Part II, to the right of line 3 blank area.

    • Form 8038-TC: Part III, dotted portion of line 1.

    • Form 8703: Part II, dotted portion of line 5.

  3. Valid codes are "D" , "G" , "R" , "F" , "3" , and "7" for all forms above. CCC "W" , "C" and "O" is valid for Form 8038-CP only. CCC "H" is valid for Form 8038-G only.

Field 01CCC
Invalid Conditions
  1. This field is invalid if:

    1. CCC "G" is present and any CCC other than "3" .

    2. CCC "7" is present with both CCC "D" and "R" .

Field 01CCC
Correction Procedures
  1. Correct any coding or transcription errors.

  2. If the code(s) is entered incorrectly, refer to the return and the CCC table below to determine which code(s) is necessary.

  3. 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" .

    Note:

    CCC "G" is valid, but currently not used.

  4. If the return is an amended Form 8328 process as an original.

  5. 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" .

  6. Review reasonable cause statement to determine which CCC (R or 7) is 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.

    Note:

    CCC "G" is valid, but currently not used on any TEB return.

    Note:

    CCC "R" is valid, but currently not used on Form 8038-T.

    Note:

    CCC "R" and "D" is valid but currently not used on Form 8328 or Form 8038-CP.

    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 Rev. Proc. 90-11 or Rev. Proc. 2005-40.

    Note:

    If prepaid penalty is included, don’t use Condition Code "D" .

    8038-T
    F Final return Return indicates It's a "Final." 8038-T
    8038-CP
    G Amended return Amended return
    (not currently used on TEB returns).
    8038
    8038-G
    8038-GC
    8038-T
    8328
    8038-B
    8038-TC
    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
    8038-B
    8038-TC
    3 No reply Input when issuer doesn't reply to IRS correspondence. 8038
    8038-G
    8038-GC
    8038-T
    8328
    8038-CP
    8038-TC
    8038-B
    7 Reasonable cause was considered and denied. Reasonable cause wasn’t granted. 8038
    8038-G
    8038-GC
    8038-T

    8038-TC
    8038-B
    1- Return was referred to GECSt,
    or
    2- Form 8038-T was secured by GECS and a late filing CP 142 notice shouldn’t be generated.
    1) Return referred to GECS for late filing consideration.
    or
    2) Form 8038-T CP 142 late filing correspondence shouldn’t be issued because the return was secured by GECS
    O Input when a refund of ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ dollar or more is present on line 22 (8038-CP) requiring a manual refund be issued and/or the GECS Field Office agent performing the initial review requests a refund be stopped (regardless of the amount).
    CCC O freezes the affected tax module unless or until a TC 840 transaction is posted.
    Used to stop a refund from generating so a manual refund can be prepared. 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" .

    Note:

    Edit CCC "W" only when the return processing date is two years and nine months after the return due date or received date, whichever is later.

    8038-CP
    C Indicates a Form 8038-CP is subject to the sequestration decrease. CCC "C" is not present on a Form 8038-CP. 8038-CP

Reasonable Cause

  1. Accept reasonable cause and edit CCC "R" or "D" if the taxpayer has filed the following:

    Form And
    8038
    8038-G
    8038-GC
    8038-B
    8038-TC
    (within 6 months after the due date)
    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.
  2. 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

    Note:

    Reasonable cause or Rev. Proc. 88-10, 2002-48, or 90-11 doesn't apply to Forms 8328 and 8038-CP.

Field 01RCD
Received Date

  1. Field length - 8 positions

  2. 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.

Field 01RCD
Invalid Conditions
  1. This field is invalid if:

    1. Not in YYYYMMDD format.

    2. Later than the current processing date.

    3. Prior to 19850101 on Form 8038, Form 8038-G and Form 8038-GC.

    4. Prior to 19540101 on Form 8038-T.

    5. Prior to 20090101 on Form 8038-TC.

    6. Prior to 20090217 on Form 8038-B and Form 8038-CP.

    7. Prior to 19881101 on Form 8703.

    8. Not all numeric.

    9. It’s blank.

    10. 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.

Field 01RCD
Correction Procedures
  1. 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:
    1. U.S. Postal Service Postmark Date/Foreign Postmark/Designated Private Delivery Service (i.e., Federal Express).

      Note:

      If the U.S. Postal Service, Foreign Postmark and Private meter marks are present, honor the U.S. Postal Service date.

    2. SCAMPS (service center automatic mail processing system) digital date.

    3. Revenue Officer’s signature date.

    4. Signature Date (only within current tax year).

    5. Julian Date minus 10 days.

    Note:

    Use the signature date if it’s within the current processing year.

    ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ 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.

    Caution:

    ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡

Field 01CRD
Correspondence Received Date

  1. Field length - 8 positions

  2. 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.

  3. The CRD is determined from the date the reply is received at the service center.

Field 01CRD
Invalid Conditions
  1. This field is invalid if one of the following conditions exist:

    1. Not all numeric.

    2. The date is earlier than or equal to the Return Due Date (see Exhibit 3.12.26-2 for return due dates).

    3. The date is equal to or earlier than the Received Date.

    4. The date is later than the processing date.

    5. CCC "3" is present.

field 01CRD
Correction Procedures
  1. 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:
    1. Correspondence received date stamp

    2. Date the reply was faxed

    3. Date entered on fax cover sheet by taxpayer

    4. Current date

    both the CRD and CCC "3" is present, 1) If no reply, delete the CRD.
    2) If reply is received, delete CCC "3" .

Field 01NM1
Issuers Name

  1. Field length - 35 positions

  2. 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.

  3. Form 8703 - Field 01NM1 is the "Operator of Project" name and located in Part I.

Field 01NM1
Invalid Conditions
  1. Field 01NM1 is invalid if:

    1. The first position isn't alpha or numeric.

    2. Any characters aren’t alpha, numeric, ampersand, hyphen, or blank.

    3. There is two consecutive blanks followed by valid characters.

    4. Blank.

Field 01NM1
Correction Procedures
  1. Compare the screen display with the entry on the return.

    If Then
    the field was transcribed incorrectly, correct the field.
    the issuer or operator name exceeds 35 characters, continue the name in Field 01NM2.

Field 01NM2
Issuer's Second Name Line

  1. Field length - 35 positions

  2. 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.

Field 01NM2
Invalid Conditions
  1. This field is invalid if:

    1. The first position isn't alpha or numeric.

    2. Any characters are not alpha, numeric, ampersand, hyphen, or blank.

    3. There’s two consecutive blanks followed by valid characters.

Field 01NM2
Correction Procedures
  1. Compare the screen display with the entry on the return.

  2. If the field is transcribed incorrectly, correct the field.

Field 01CON
In Care of Name Line

  1. Field length - 35 positions

  2. Field 01CON is the "In Care of Name Line" and located in Part I.

  3. The field may be alpha and numeric.

  4. The field is valid if blank.

Field 01CON
Correction Procedures
  1. Correct any coding or transcription errors.

Field 01FAD
Foreign Address

  1. Field length - 35 positions

  2. Field 01FAD is the Foreign Address and located in Part 1.

  3. The field can be alpha, numeric, and special characters.

  4. The field is valid if blank.

Field 01FAD
Invalid Conditions
  1. The field is invalid if any of the following conditions exist:

    1. The first position is blank.

    2. Any character follows two consecutive blanks.

    3. There are more than 35 characters present in the field.

    Note:

    ISRP is instructed to input a pound sign (#) as the 35th character if there are more than 35 characters present for The field on the return.

Field 01FAD
Correction Procedures
  1. Foreign addresses shouldn’t be accepted on tax exempt bond forms. If a foreign address is present, refer to the Unprocessable procedures outlined below.

Unprocessable Conditions

  1. To be processable, a return must contain the following:

    1. Employer Identification Number,

    2. Legible name,

    3. Legible address, and

    4. Valid tax period

    5. Report number

  2. An "unprocessable" return may consist of one or more of the following:

    1. The name is so illegible or incomplete that the name control can’t be determined.

    2. The EIN is missing, illegible, or other than 9 digits.

    3. Required tax data entered on the return is incomplete, illegible, or contradictory.

    4. A foreign address is entered in the entity section or the address is missing or illegible.

    Exception:

    If Form 8038-CP, Part I entity doesn't match the entity in Part II, a foreign address is valid. Continue to process with the foreign address.

Correcting Unprocessable Returns
  1. 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.

  2. If required information isn't found on an attachment or schedule:

    1. Perfect the return as much as possible.

    2. SSPND 450.

  3. Route unprocessable returns as follows:

    Route With To And
    Perfected numbered or unnumbered returns Unresolved entity issues (i.e. missing/invalid EIN, address missing or illegible) Entity 1) Attach a completed Form 4227.
    2) Route to Entity.
    Unnumbered returns A foreign address TEGE
    SE:T:BSP:SPP
    MS: 1110
     
    Numbered returns A foreign address TEGE
    SE:T:BSP:SPP
    MS: 1110
    1) SSPND 450.
    2) Attach a completed Form 4227.
    3) Annotate the unprocessable condition and include the mail stop.

Field 01ADD
Street Address

  1. Field length - 35 positions

  2. Field 01ADD is the street address and located in Part I.

Field 01ADD
Invalid Conditions
  1. The is field is invalid if:

    1. The first position is blank.

    2. Any characters are not alpha, numeric, blank, hyphen (-), and slash (/).

    3. There’s two consecutive blanks followed by valid characters.

    4. A Major City Code (MCC) is present in Field 01CTY and a street address isn't present.

Field 01ADD
Correction Procedures
  1. Refer to the street address on the return.

  2. 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.
  3. 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 01CTY
City

  1. Field length - 22 positions

  2. Field 01CTY is the city and located in Part I.

Field 01CTY
Invalid Conditions
  1. The field is invalid if:

    1. The first, second and third position is blank.

    2. A character follows the first two adjoining blanks.

    3. Any character isn't alpha or blank.

    4. The MCC is invalid.

    5. The foreign country code is present, incorrect, or contains "XX" .

Field 01CTY
Correction Procedures
  1. Refer to the city shown on the return.

    1. 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.
  2. The city field (01CTY) and state code field (Field 01ST) is 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.
  3. Verify the state code entered in Field 01ST is correct.

    1. This field and the ZIP code field is invalid if a MCC is present and the ZIP code isn't valid for the city.

    2. 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, 1) Refer to the envelope and attachments to locate a valid ZIP code.
    2) If one is located, enter in Field 01ZIP.
    the correct ZIP code isn't available on the document or attachments, 1) Look up the ZIP code in Document 7475.
    2) Enter into Field 01ZIP.

Field 01ST
State

  1. Field length - 2 positions

  2. Field 01ST is the State and located in Part I.

  3. This field contains two alpha characters.

Field 01ST
Invalid Conditions
  1. The field is invalid if:

    1. It’s blank and MCC isn't present in Field 01CTY.

    2. It contains other than a valid state code.

Field 01ST
Correction Procedures
  1. Correct any coding or transcription errors.

  2. 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.
  3. 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.
  4. Returns with address changes in the following American possessions can be input with the return the same as a domestic address:

    1. American Samoa (AS)

    2. Mariana Islands (MH)

    3. Puerto Rico (PR)

    4. Virgin Island (VI)

    5. Guam (GU)

Field 01ZIP
ZIP Code

  1. Field length - 12 positions

  2. Field 01ZIP is the ZIP Code and located in Part I.

  3. This position contains 5, 9, or 12 characters.

Field 01ZIP
Invalid Conditions
  1. The field is invalid if:

    1. It isn't all numeric or blank.

    2. There is re not 5, 9, or 12 numeric characters.

Field 01ZIP
Correction Procedures
  1. Correct any coding or transcription errors.

  2. Refer to the return and attachments to determine the correct ZIP code.

  3. If a valid ZIP code can’t be found, refer to Document 7475 to determine the correct ZIP code.

Field 01NM3 - Form 8703
Owner of Project

  1. Field length - 35 positions

  2. Field 01NM3 is the Operator of Project and located in Part I.

Field 01NM3
Invalid Conditions
  1. The field is invalid if:

    1. The first position isn't alpha or numeric.

    2. Any characters aren’t alpha, numeric, ampersand or hyphen.

    3. There’s two consecutive blanks, followed by valid characters.

Field 01NM3
Correction Procedures
  1. Correct any coding or transcription errors.

  2. If the name of issue exceeds 35 characters, enter only the first 35 characters.

Field 01NM4
Owner of Project Second Name Line

  1. Field length - 35 positions

  2. 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.

Field 01NM4
Invalid Conditions
  1. The field is invalid if:

    1. The first position isn't alpha or numeric.

    2. Any characters are not alpha, numeric, ampersand, hyphen, or blank.

    3. There’s two consecutive blanks followed by valid characters.

Field 01NM4
Correction Procedures
  1. Compare the screen display with the entry on the return.

  2. If the field is transcribed incorrectly, correct the field.

Field 01AD2
Owner of Project Street Address

  1. Field length - 35 positions

  2. Field 01AD2 is the owner of project street address and located in Part I.

Field 01AD2
Invalid Conditions
  1. The field is invalid if:

    1. The first position is blank.

    2. Any characters are not alpha, numeric, blank, hyphen (-), and slash (/).

    3. There’s two consecutive blanks followed by valid characters.

    4. A Major City Code (MCC) is present in Field 01CT2 and a street address isn't present.

Field 01AD2
Correction Procedures
  1. Refer to the street address on the return.

  2. Correct any coding or transcription errors.

  3. If the address on the return is illegible or can’t be perfected, delete Fields 01AD2, 01CT2, 01ST2, and 01ZP2

  4. 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 01CT2
Owner of Project City

  1. Field length - 22 positions

  2. Field 01CT2 is the city of the owner of project and located in Part I.

Field 01CT2
Invalid Conditions
  1. The field is invalid if:

    1. The first, second and third position is blank.

    2. A character follows the first two adjoining blanks.

    3. Any character isn't alpha or blank.

    4. The MCC is invalid.

    5. The foreign country code is present, incorrect, or contains "XX" .

Field 01CT2
Correction
  1. Refer to the city shown on the return.

    1. 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.
  2. 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.
  3. Verify the state code entered in Field 01ST2 is correct.

    1. This field and the ZIP code field is invalid if a MCC is present and the ZIP code isn't valid for the city.

    2. 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, 1) Refer to the envelope and attachments to locate a valid ZIP code.
    2) If one is located, enter in Field 01ZP2.
    the correct ZIP code isn't available on the document or attachments, 1) Look up the ZIP code in Document 7475.
    2) Enter into Field 01ZP2.

Field 01ST2
Owner of Project State

  1. Field length - 2 positions

  2. Field 01ST2 is the Owner of Project state and located in Part I.

  3. This field contains two alpha characters.

Field 01ST2
Invalid Conditions
  1. The field is invalid if:

    1. It’s blank and MCC isn't present in Field 01CT2.

    2. It contains other than a valid state code.

Field 01ST2
Corrections
  1. Correct any coding or transcription errors.

  2. 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.
  3. 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.
  4. Returns with address changes in the following American possessions can be input with the return the same as a domestic address:

    1. American Samoa (AS)

    2. Puerto Rico (PR)

    3. Virgin Islands (VI)

    4. Guam (GU)

Field 01ZP2
Owner of Project Zip Code

  1. Field length - 12 positions

  2. Field 01ZP2 is the Owner of Project ZIP Code and located in Part I.

  3. This position contains 5, 9, or 12 characters.

Field 01ZP2
Invalid Conditions
  1. The field is invalid if:

    1. It isn't all numeric or blank.

    2. There isn’t 5, 9, or 12 numeric characters.

Field 01ZP2
Correction Procedures
  1. Correct any coding or transcription errors.

  2. Refer to the return and attachments to determine the correct ZIP code.

  3. If a valid ZIP code can’t be found, refer to Document 7475 to determine the correct ZIP code.

Field 01BLD
Address of Building/Project

  1. Field length - 35 positions

  2. Field 01BLD is the Building or Project street address and located in Part I.

Field 01BLD
Invalid Conditions
  1. The field is invalid if:

    1. The first position is blank.

    2. Any characters isn’t alpha, numeric, blank, hyphen (-), and slash (/).

    3. There’s two consecutive blanks followed by valid characters.

    4. A Major City Code (MCC) is present in Field 01CT3 and a street address isn't present.

Field 01BLD
Correction Procedures
  1. Refer to the building/project street address on the return.

  2. Correct any coding or transcription errors.

  3. If the address on the return is illegible or can’t be perfected, delete Fields 01BLD, 01CT3, 01ST3, and 01ZP3.

  4. 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 01CT3
City of Building/Project

  1. Field length - 22 positions

  2. Field 01CT3 is the city of the building or project and located in Part I.

Field 01CT3
Invalid Conditions
  1. The field is invalid if:

    1. The first, second and third position is blank.

    2. A character follows the first two adjoining blanks.

    3. Any character isn't alpha or blank.

    4. The MCC is invalid.

    5. The foreign country code is present, incorrect, or contains "XX" .

Field 01CT3
Correction Procedures
  1. Refer to the city shown on the return.

    1. 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.
  2. The city field (01CT3) and state code field (Field 01ST3) is 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.
  3. Verify the state code entered in Field 01ST3 is correct.

    1. This field and the ZIP code field are invalid if a MCC is present and the ZIP code isn't valid for the city.

    2. 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 01ST3
State of Buliding/Project

  1. Field length - 2 positions

  2. Field 01ST3 is the Building or Project state and located in Part I.

  3. This field contains two alpha characters.

Field 01ST3
Invalid Conditions
  1. The field is invalid if:

    1. It’s blank and MCC isn't present in Field 01CT3.

    2. It contains other than a valid state code.

Field 01ST3
Correction Procedures
  1. Correct any coding or transcription errors.

  2. 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.
  3. 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.
  4. Returns with address changes in the following American possessions can be input with the return the same as a domestic address:

    1. American Samoa (AS)

    2. Puerto Rico (PR)

    3. Virgin Islands (VI)

    4. Guam (GU)

Field 01ZP3
ZIP of Building/Project

  1. Field length - 12 positions

  2. Field 01ZP3 is the Building or Project ZIP Code and located in Part I.

  3. This position contains 5, 9, or 12 characters.

Field 01ZP3
Invalid Conditions
  1. The field is invalid if:

    1. It isn't all numeric or blank.

    2. There are not 5, 9, or 12 numeric characters.

Field 01ZP3
Correction Procedures
  1. Correct any coding or transcription errors.

  2. Refer to the return to determine the correct ZIP code.

  3. If a valid ZIP code can't be found, refer to Document 7475 to determine the correct ZIP code.

Field 01INM
Name of Issue

  1. Field length - 35 positions

  2. Field 01INM is the Name of Issue and may be alpha and numeric. It's located as follows:

    • Form 8038, Form 8038-G, Form 8038-B 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.

  3. This field is valid if blank.

Field 01INM
Invalid Conditions
  1. The field is invalid if:

    1. The first position isn't alpha or numeric.

    2. Any characters isn’t alpha, numeric, ampersand or hyphen.

    3. There’s two consecutive blanks, followed by valid characters.

Field 01INM
Correction Procedures
  1. To correct Form 8038, Form 8038-G, Form 8038-B, and Form 8038-TC:

    1. Correct any coding or transcription errors.

    2. If the name of issue exceeds 35 characters, enter only the first 35 characters.

Field 01DTI
Date of Issue

  1. Field length - 8 positions

  2. Field 01DTI is the Date of Issue and located as follows:

    • Form 8038: Part I, line 7

    • Form 8038-G: Part I, line 7

    • Form 8038-GC: Part II, line 8b

    • Form 8038-B: Part I, line 7

    • Form 8038-TC: Part I, line 7

    • Form 8328 and Form 8703: Not valid on these forms. If present, delete the entry.

Field 01DTI
Invalid Conditions
  1. The field is invalid if:

    • The field isn't present or not 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.

Field 01DTI
Correction Procedures
  1. Compare the entry on Field 01DTI with the return and correct any coding or transcription errors.

  2. 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.
  3. Rejects will:

    If Then
    the reply is incomplete or no reply is received, 1) Enter CCC "3" in 01CCC and enter the signature date in the date of issue and tax period.
    2) 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.

    Example:

    Tax Period: (blank)
    Date of Issue: (blank)
    Signature Date: (blank)
    IRS Received Date: Feb. 2, 2014
    Minus Ten Days: Jan. 23, 2014
    Date of Issue: 01/23/2014
    Tax Period: 201401

Field 01CUS
CUSIP Number

  1. Field length - 12 positions

  2. 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-G: Part I, Line 9

    • Form 8038-B: 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.

Field 01CUS
Correction Procedures
  1. To correct Field 01CUS:

    1. Correct any coding and transcription errors.

    2. 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.
    less 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 01CAF
CAF Indicator

  1. Field length - 1 position

  2. Field 01CAF is the CAF Code Indicator.

  3. The CAF indicator is no longer edited by Code & Edit

  4. If the field has an entry, delete the entry.

Field 01SIG
Signature Block

  1. Field length - 1 position

  2. Field 01SIG is the Signature Code and located in the right margin of the Signature line in Part III.

Field 01SIG
Invalid Conditions
  1. Field 01SIG is invalid if:

    1. It’s not numeric

    2. The entry is other than "1" (signature present) or "3" (signature not present) after correspondence and no reply.

Field 01SIG
Correction Procedures
  1. 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.
  2. Rejects will:

    If Then
    a valid reply is received, 1) Enter a "1" in Field 01SIG.
    2) Enter the correspondence received date in Field 01CRD.
    no reply or an incorrect reply is received, 1) Enter CCC "3" in Field 01SIG.
    2) Enter a "3" in Field 01CCC.

Field 01PRE
Preparation Code

  1. Field length - 1 position

  2. Field 01PRE is the Preparation Code and located in the right margin of the preparer’s SSN or PTIN box.

Field 01PRE
Invalid Conditions
  1. Field 01PRE is invalid if:

    1. It’s not numeric.

    2. The entry is other than "1" or blank.

Field 01PRE
Correction Procedures
  1. Edit a Preparation Code "1" in the right margin next to the preparer's SSN or PTIN box if both of the following apply:

    1. The return is signed by a preparer.

    2. The paid preparer’s section has information that’s different than the person signing the return.

Field 01PSN
Preparer's SSN or PTIN

  1. Field length - 9 positions

  2. 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.

  3. 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
Invalid Conditions
  1. Field 01PSN is invalid if:

    1. The first position is other than numeric or a "P" .

    2. The field is all zeroes or all nines or the first position is "P" and the remaining positions are all zeroes or all nines.

    3. Other than the first position isn't numerics.

Field 01PSN
Correction Procedures
  1. Delete. Don’t attempt to correct the field.

Field 01PEN,
Preparer’s EIN

  1. Field length - 9 positions

  2. Field 01PEN, Preparer's EIN is located in the Paid Preparer's signature portion in the Firm's EIN box, in Part III.

  3. 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
Invalid Conditions
  1. Field 01PEN is invalid if:

    1. The first position is other than numeric.

    2. The field is all zeroes or all nines.

Field 01PEN
Correction Procedures
  1. Delete. Don’t attempt to correct the field.

Field 01PTN
Preparer's Telephone Number

  1. Field length - 10 positions

  2. Field 01PTN, Preparer's Telephone Number is located in the paid preparer signature portion, in the Firm's Phone number box.

  3. If present, the field is numeric.

Field 01PTN
Invalid Condition
  1. The field is invalid if not numeric.

Field 01PTN
Correction Procedures
  1. If more than 10 digits are present, enter the first 10 digits only and continue processing.

  2. If the paid preparer phone number is incomplete, illegible, or less 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 - Form 8038

  1. Section 02 alpha designators, title, location and field lengths are listed below:

    Section 02
    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 Dist of Col Ent Zn Fac 1400a 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 Other 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

Fields 0211A - 0220Z
Issue Price Amount

  1. Field length - 15 positions

  2. 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).

  3. The field(s) is numeric and transcribed in dollars only.

Fields 0211A - 0220Z
Invalid Conditions
  1. The field(s) is invalid if at least one issue price amount isn't present.

Fields 0211A - 0220Z
Correction Procedures
  1. To correct Fields 0211A - 0220Z:

    1. Refer to the return to verify the entries.

    2. Correct any coding or transcription errors.

    3. 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 is present, and one of the amounts is listed as "other" on line 20c, 1) Compare the issue prices in Part II, lines 11a - 20c against the issue price in Part III, line 21(b).
    2) If all three match, circle out the money amount on line 20c.
    the type of issue and the issue price is 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 is blank, and can’t be perfected, enter SSPND 211.
    at least one issue price amount can't be determined, enter SSPND 211.
  2. Rejects will:

    If Then
    a reply is received, perfect the return.
    the issuers reply indicates more than one issue amount, 1) Correct using the issue amounts as indicated in each issue price amount field.
    2) 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 - Form 8038

  1. Section 03 alpha designators, title, location and field lengths are listed below:

    Section 03
    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   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   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 0321A
Maturity Date
  1. Field length - 8 positions

  2. Field 0321A is the Maturity Date, is in YYYYMMDD format, and located on Form 8038 in Part III, line 21a.

  3. The field can be blank.

Field 0321A
Invalid Conditions
  1. Field 0321A is invalid if:

    1. Field length isn't 8 positions.

    2. Not numeric.

    3. Date is other than 19500101 to 2099123.

Field 0321A
Correction Procedures
  1. To correct Field 0321A:

    1. 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.
  2. 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 0321B
Entire Issue Price

  1. Field length - 15 positions

  2. Field 0321B is the Entire Issue Price of the bond and located on Form 8038 in Part III, line 21b.

  3. The field is numeric and transcribed in dollars only.

Field 0321B
Invalid Conditions
  1. The field is invalid if blank.

Field 0321B
Correction Procedures
  1. To correct Form 8038:

    1. Correct any coding or transcription errors.

    If Then
    line 21b is blank, and there’s entries in lines 11a through 20z, 1) Add the amounts on lines 11a through 20z.
    2) Enter the total in Field 0321B and Field 0323.
    you can’t perfect it, SSPND 211.
  2. 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 0321C
Stated Redemption Maturity Amount

  1. Field length - 15 positions

  2. Field 0321C is the Stated Redemption Maturity Amount is located on Form 8038 in Part III, line 21c.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0321C
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0321D
Weighted Average Maturity Years

  1. Field length - 4 positions

  2. Field 0321D is the Weighted Average Maturity Years and located on Form 8038 in Part III, line 21d.

  3. The field is numeric only.

  4. The field is valid if blank.

Field 0321D
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0321E
Yield Percentage

  1. Field length - 6 positions

  2. Field 0321E is the Yield Percentage and located on Form 8038 in Part III, line 21e.

  3. The field is numeric only.

  4. The field is valid if blank.

Field 0321E
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0322
Proceeds for Accrued Interest Amount

  1. Field length - 15 positions

  2. Field 0322 is the Proceeds for Accrued Interest Amount and located on Form 8038 in Part IV, line 22.

  3. The field must be numeric and is transcribed in dollars only.

  4. The field is valid if blank.

Field 0322
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0323
Proceeds for Entire Issue Amount

  1. Field length - 15 positions

  2. Field 0323 is the Proceeds for Entire Issue Amount and located on Form 8038 in Part IV, line 23.

  3. The field is numeric and transcribed in dollars only.

Field 0323
Correction Procedures
  1. To correct Field 0323:

    1. Correct any coding or transcription errors.

    2. If line 23 is blank, enter the amount from line 21b, in Field 0323.

Field 0324
Proceeds for Bond Issue Amount

  1. Field length - 15 positions

  2. Field 0324 is the Proceeds for Bond Issue Amount and located on Form 8038 in Part IV, line 24.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0324
Correction Procedures
  1. To correct Field 0324:

    1. 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.
  2. Rejects will:

    1. After reply is received, perfect the return.

    2. If reply is incomplete or no reply is received, enter CCC "3" and continue processing.

Field 0325
Proceeds for Credit Enhancement Amount

  1. Field length - 15 positions

  2. Field 0325 is the Proceeds for Credit Enhancement Amount and located on Form 8038 in Part IV, line 25.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0325
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0326
Proceeds to Reserve or Replacement Fund Amount

  1. Field length - 15 positions

  2. Field 0326 is the Proceeds to Reserve or Replacement Fund Amount and located on Form 8038 in Part IV, line 26.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0326
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0327
Proceeds Used to Currently Refund Prior Issue(s)

  1. Field length - 15 positions

  2. Field 0327 is the Proceeds for Current Refund Amount and located on Form 8038 in Part IV, line 27.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0327 Correction Procedures
  1. Correct any coding or transcription errors.

Field 0328
Proceeds Used for Advance Refund Amount

  1. Field length - 15 positions

  2. Field 0328 is the Proceeds for Advance Refund Amount and located on Form 8038 in Part IV, line 28.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0328
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0329
Total Proceeds Amount

  1. Field length - 15 positions

  2. Field 0329 the Total Proceeds Amount is located on Form 8038 in Part IV, line 29.

  3. The field is numeric and transcribed in dollars only.

Field 0329
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0330
Net Non Refunding Proceeds Amount

  1. Field length - 15 position

  2. Field 0330 is the Net Non Refunding Proceeds Amount and located on Form 8038 in Part IV, line 30.

  3. The field is numeric and transcribed in dollars only.

Field 0330
Correction Procedures
  1. Correct any coding or transcription errors.

    If Then
    blank, perfect from attachments.
    blank, and the computations on Field 0323 and 0329 are correct, 1) Compute Field 0330 by subtracting Field 0329 (line 29) from Field 0323 (line 23).
    2) 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.
  2. Rejects will:

    1. After reply is received, perfect the return.

    2. If reply is incomplete or no reply is received, enter CCC "3" and continue processing.

Field 0331A
Non Refunding Land Proceeds Amount

  1. Field length - 15 position

  2. Field 0331A is the Non Refunding Land Proceeds Amount and located on Form 8038 in Part V, line 31a.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0331A
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0331B
Non Refunding Buildings and Structures Proceeds Amount

  1. Field length - 15 position

  2. Field 0331B is the Non Refunding Buildings and Structures Proceeds Amount and i located on Form 8038 in Part V, line 31b.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0331B
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0331C
Non Refunding Equipment Greater than 5 Years Recovery Amount

  1. Field length - 15 position

  2. Field 0331C is the Non Refunding Equipment Greater than 5 Years Recovery Amount and located on Form 8038 in Part V, line 31c.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0331C
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0331D
Non Refunding Equipment Less than 5 Years Recovery Amount

  1. Field length - 15 position

  2. Field 0331D is the Non Refunding Equipment Less than 5 Years Amount and located on Form 8038 in Part V, line 31d.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0331D
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0331E
Non Refunding for Other Property Proceeds Amount

  1. Field length - 15 position

  2. Field 0331E is the Non Refunding for Other Property Proceeds Amount and located on Form 8038 in Part V, line 31e.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0331E
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0332A
First NAICS Code

  1. Field length - 6 positions

  2. Field 0332A is the First NAICS Code and located on Form 8038 in Part V, Line 32a.

  3. The field may be alpha and numeric.

Field 0332A
Invalid Conditions
  1. The field is invalid if:

    1. There’s an entry in Field 0332A (line 32a code) and Field 0332B (line 32a $) is blank. (Field 0332A) is also invalid).

    2. There’s an entry in Field 0332B (line 32a $) and Field 0332A (line 32a code) is blank. (Field 0332B is also invalid).

Field 0332A
Correction Procedures
  1. To correct Field 0332A:

    1. Correct any coding or transcription errors.

    2. 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’s no codes or amounts present, 1) Perfect from attachments.
    2) If can't be perfected, leave blank.
    a code is present, but missing a corresponding amount, 1) Perfect from attachments.
    2) If it can't be perfected, edit a "1" in the amount.

    Note:

    Leave the entry in the location it appears.

    Example:

    No need to move the entry to the first code and amount positions if listed in the third code and amount positions.

    an amount is present, but missing a corresponding code, 1) Perfect from attachments.
    2) If it can't be perfected, edit a "1" in the code.

    Note:

    Leave the entry in the location it appears.

    Example:

    No need to move the entry to the first code and amount positions if listed in the third code and amount positions.

    you can’t correct it, Delete entries in Field 0332A (line 32a code) and Field 0332B (line 32a $).

Field 0332B
First NAICS Amount

  1. Field length - 15 positions

  2. Field 0332B is the first NAICS Amount and located on Form 8038 in Part V, Line 32a $.

  3. The field is numeric and transcribed in dollars only.

Field 0332B
Invalid Conditions
  1. The field is invalid if:

    1. There’s an entry in Field 0332A (line 32a code) and Field 0332B (line 32a $) is blank (Field 0332A will also be invalid).

    2. There’s an entry in Field 0332B (line 32a $) and Field 0332A (line 32a code) is blank (Field 0332B will also be invalid).

Field 0332B
Correction Procedures
  1. To correct Field 0332B:

    1. Correct any coding or transcription errors.

    2. Refer to the procedures outlined in IRM 3.12.26.6.21.2 to correct Part V, Line 32a - d, NAICS Code and NAICS Amount of Non-refunding Proceeds.

Field 0332C
Second NAICS Code

  1. Field length - 6 positions

  2. Field 0332C is the second NAICS Code and located on Form 8038 in Part V, Line 32b.

  3. The field may be alpha and numeric.

Field 0332C
Invalid Conditions
  1. The field is invalid if:

    1. There’s an entry in Field 0332C (line 32b code) and Field 0332D (line 32b $) is blank (Field 0332C is also invalid).

    2. There’s an entry in Field 0332D (line 32b $) and Field 0332C (line 32b code) is blank (Field 0332D is also invalid).

Field 0332C
Correction Procedures
  1. To correct Form 8038:

    1. Correct any coding or transcription errors.

    2. Refer to the procedures outlined in IRM 3.12.26.6.21.2 to correct Part V, Line 32a - d, NAICS Code and NAICS Amount of Non-refunding Proceeds.

Field 0332D
Second NAICS Amount

  1. Field length - 15 positions

  2. Field 0332D is the second NAICS Amount and located on Form 8038 in Part V, Line 32b $.

  3. The field is numeric and transcribed in dollars only.

Field 0332D
Invalid Conditions
  1. The field is invalid if:

    1. There’s an entry in Field 0332D (line 32b $) and Field 0332C (line 32b code) is blank (Field 0332D is also invalid).

    2. There’s an entry in Field 0332C (line 32b code) and Field 0332D (line 32b $) is blank (Field 0332C is also invalid).

Field 0332D
Correction Procedures
  1. To correct Field 0332D:

    1. Correct any coding or transcription errors.

    2. Refer to the procedures outlined in IRM 3.12.26.6.21.2 to correct Part V, Line 32a - d, NAICS Code and NAICS Amount of Non-refunding Proceeds.

Field 0332E
Third NAICS Code

  1. Field length - 6 positions

  2. Field 0332E is the third NAICS Code and has up to 6 positions. It's located on Form 8038 in Part V, Line 32c.

  3. The field may be alpha and numeric.

Field 0332E
Invalid Conditions
  1. The field is invalid if:

    1. There’s an entry in Field 0332E (line 32c code) and Field 0332F (line 32c $) is blank (Field 0332E is also invalid).

    2. There’s an entry in Field 0332F (line 32c $) and Field 0332E (line 32c code) is blank (Field 0332F is also invalid).

Field 0332E
Correction Procedures
  1. To correct Field 0332E:

    1. Correct any coding or transcription errors.

    2. Refer to the procedures outlined in IRM 3.12.26.6.21.2 to correct Part V, Line 32a - d, NAICS Code and NAICS Amount of Non-refunding Proceeds.

Field 0332F
Third NAICS Amount

  1. Field length - 15 positions

  2. Field 0332F is the third NAICS Amount and located on Form 8038 in Part V, Line 32c $.

  3. The field is numeric and transcribed in dollars only.

Field 0332E
Invalid Conditions
  1. The field is invalid if:

    1. There’s an entry in Field 0332F (line 32c $) and Field 0332E (line 32c code)is blank (Field 0332F is also invalid).

    2. There’s an entry in Field 0332E (line 32c code) and Field 0332F (line 32c $) is blank (Field 0332E is also invalid).

Field 0332F
Correction Procedures
  1. To correct Field 0332F:

    1. Correct any coding or transcription errors.

    2. Refer to the procedures outlined in IRM 3.12.26.6.21.2 to correct Part V, Line 32a - d, NAICS Code and NAICS Amount of Non-refunding Proceeds.

Field 0332G
Fourth NAICS Code

  1. Field length - 6 positions

  2. Field 0332G is the fourth NAICS Code and located on Form 8038 in Part V, Line 32d.

  3. The field may be alpha and numeric.

Field 0332G
Invalid Conditions
  1. The field is invalid if:

    1. There’s an entry in Field 0332G (line 32d code) and Field 0332H (line 32d $) is blank (Field 0332G is also invalid).

    2. There’s an entry in Field 0332H (line 32d $) and Field 0332G (line 32d code) is blank (Field 0332H is also invalid).

Field 0332G
Correction Procedures
  1. To correct Field 0332G:

    1. Correct any coding or transcription errors.

    2. Refer to procedures outlined in IRM 3.12.26.6.21.2 to correct Part V, Line 32a - d, NAICS Code and NAICS Amount of Non-refunding Proceeds.

Field 0332H
Fourth NAICS Amount

  1. Field length - 15 positions

  2. Field 0332H is the fourth NAICS Amount and located on Form 8038 in Part V, Line 32d $.

  3. The field is numeric and is transcribed in dollars only.

Field 0332H
Invalid Conditions
  1. The field is invalid if:

    1. There’s an entry in Field 0332G (line 32d code) and Field 0332H (line 32d $) is blank (Field 0332G is also invalid).

    2. There’s an entry in Field 0332H (line 32d $) and Field 0332G (line 32d code) is blank (Field 0332H is also invalid).

Field 0332H
Correction Procedures
  1. To correct Field 0332H:

    1. Correct any coding or transcription errors.

    2. Refer to procedures outlined in IRM 3.12.26.6.21.2 to correct Part V, Line 32a - d, NAICS Code and NAICS Amount of Non-refunding Proceeds.

Field 0333
Weighted Average Maturity Currently Refunded Years

  1. Field length - 2 positions

  2. Field 0333 is the Weighted Average Maturity Currently Refunded Years and located on Form 8038 in Part VI, Line 33.

  3. The field is numeric only.

  4. The field is valid if blank.

Field 0333
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0334
Weighted Average Maturity Advance Refunded Years

  1. Field length - 2 positions

  2. Field 0334 is the Weighted Average Maturity Advance Refunded Years and located on Form 8038 in Part VI, Line 34.

  3. The field is numeric only.

  4. The field is valid if blank.

Field 0334
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0335 Refunded Bond Call Date

  1. Field length - 8 positions

  2. Field 0335 is the Refunded Bond Call Date, is in YYYYMMDD format and located on Form 8038 in Part VI, Line 35.

  3. The field is numeric only.

  4. The field is valid if blank.

Field 0335
Correction Procedures
  1. To correct Field 0335:

    1. Correct any coding or transcription errors.

    2. If more than one date is present, enter the latest date shown.

Field 0336
Refunded Bond Issue Date

  1. Field length - 8 positions

  2. Field 0336 is the Refunded Bond Issue Date, is in YYYYMMDD format and located on Form 8038 in part VI, Line 36.

  3. The field is numeric only.

  4. The field is valid if blank.

Field 0336
Correction Procedures
  1. To correct Field 0336:

    1. Correct any coding or transcription errors.

    2. If more than one date is present, enter the earliest date shown.

Section 04 - Form 8038

  1. Section 04 alpha designators, title, location and field lengths are listed below:

    Section 04
    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 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 0437
Government Unit Approving Name

  1. Field length - 35 positions

  2. Field 0437 is the Government Unit Approving Name and located on Form 8038 in Part VII, Line 37.

  3. The field is valid if blank.

Field 0437
Invalid Conditions
  1. This field is invalid if:

    1. The first position isn't alpha or numeric.

    2. Any characters isn’t alpha, numeric, ampersand or hyphen.

    3. There’s two consecutive blanks, followed by valid characters.

Field 0437
Correction Procedures
  1. To correct Field 0437:

    1. Correct any coding or transcription errors.

    2. If the Government Unit Approving Name exceeds 35 characters, enter only the first 35 characters.

Field 0438
Designated Issue Under Section 265, Box

  1. Field length - 1 position

  2. Field 0438 is the Designated Issue Under Section 265 box and located on Form 8038 in Part VII, Line 38.

  3. The field is numeric.

  4. The field is valid if the entry is "1" or "blank" .

Field 0438
Correction Procedures
  1. To correct Field 0438:

    1. Correct any coding or transcription errors.

    2. Enter a "1" if the box is checked.

    3. If the box isn't checked, delete the entry in Field 0438.

Field 0439
Penalty Payment Election Indicator

  1. Field length - 1 position

  2. Field 0439 is the Penalty Payment Election Indicator and located on Form 8038 in Part VII, Line 39.

  3. The field is numeric.

  4. The field is valid if entry is "1" or "blank" .

Field 0439
Correction Procedures
  1. To correct Field 0439:

    1. Correct any coding or transcription errors.

    2. Enter a "1" if the box is checked.

    3. If the box isn't checked, delete the entry in Field 0439.

Field 0440A
Hedge Identifier Box

  1. Field length - 1 position

  2. Field 0440A is the Hedge Identifier Box and located on Form 8038 in Part VII, line 40a.

  3. The field is numeric.

  4. The field is valid if entry is "1" or "blank" .

Field 0440A
Correction Procedures
  1. To correct Field 0440:

    1. Correct any coding or transcription errors.

    2. Enter a "1" if the box is checked.

    3. If the box isn't checked, delete the entry in Field 0440A.

Field 0441
Hedge Super-Integrated Indicator Box

  1. Field length - 1 position

  2. Field 0441 is the Hedge Super-Integrated Indicator Box and located on Form 8038 in Part VII, line 41.

  3. The field is numeric.

  4. The field is valid if the entry is "1" or "blank" .

Field 0441
Correction Procedures
  1. To correct Field 0441:

    1. Correct any coding or transcription errors.

    2. Enter a "1" if the box is checked.

Field 0442A
Gross Proceeds Invested (GIC) Amount

  1. Field length - 15 positions

  2. Field 0442A is the Gross Proceeds Invested (GIC) amount and located on Form 8038 in Part VII, line 42a.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0442A
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0442B
Final Maturity Date of GIC

  1. Field length - 8 positions

  2. Field 0442B is the Final Maturity Date of GIC, is in YYYYMMDD format and located on Form 8038 in Part VII, line 42b.

  3. The field can be blank.

Field 0442B
Invalid Conditions
  1. Field 0442B is invalid if:

    1. Field length isn't 8 positions.

    2. It’s not numeric.

Field 0442B
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0443
Issuer Established Procedures Non-qualified Box

  1. Field length - 1 position

  2. Field 0443 is the Issuer Established Procedures Non-qualified Box and located on Form 8038 in Part VII, line 43.

  3. The field is valid if "1" or "blank" .

Field 0443
Correction Procedures
  1. Correct any coding or transcription errors.

    If Then
    the box is checked, enter a "1" .
    box isn't checked, leave blank.

Field 0444
Issuer Established Procedures to Monitor Section 148 Box

  1. Field length - 1 position.

  2. Field 04 is the Issuer Established Procedures to Monitor Section 148 check box and located on Form 8038 in Part VII, line 44.

  3. This field is valid if 1 or blank.

Field 0444
Correction Procedures
  1. Correct any coding or transcription errors.

    If Then
    the box is checked, enter a "1" .
    box isn't checked, leave blank.

Field 0445A
Portion of Proceeds to Reimburse Issuer

  1. Field length - 15 positions

  2. Field 04 is the Portion of Proceeds to Reimburse Issuer and located on Form 8038 in Part VII, line 45a.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0445A
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0445B
Date Official Intent was Adopted

  1. Field length - 8 positions

  2. Field 04 is the Date Official Intent was Adopted, is in YYYYMMDD format and located on Form 8038 in Part VII, line 45b.

  3. The field is valid if blank.

Field 0445B
Invalid Conditions
  1. Field 0445B is invalid if:

    1. Field length isn't 8 positions.

    2. It’s not numeric

Field 0445B
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0446
Bond Issue Redevelopment Exempt Box

  1. Field length - 1 position

  2. Field 04 is the Bond Issue Redevelopment Exempt check box and located on Form 8038 in Part VII, line 46.

  3. The field is valid if "1" or "blank" .

Field 0446
Correction Procedures
  1. Correct any coding or transcription errors.

    If Then
    the box is checked, enter a "1" .
    the box isn't checked, leave it blank.

Field 0446N
Primary Private User Name

  1. Field length - 35 positions

  2. Field 0446N is the Primary Private User Name and located on Form 8038 in Part VII, line 46 (name).

  3. The field is valid if it’s blank.

Field 0446N
Invalid Conditions
  1. The field is invalid if:

    1. The first position isn't alpha or numeric.

    2. Any characters isn’t alpha, numeric, ampersand or hyphen.

    3. There’s two consecutive blanks, followed by valid characters.

Field 0446N
Correction Procedures
  1. To correct Field 0446N:

    1. Correct any coding or transcription errors.

    2. If the Primary Private User Name exceeds 35 characters, enter only the first 35 characters.

Field 0446E
Primary Private User EIN

  1. Field length - 9 positions

  2. Field 0446E is the Primary Private User EIN and located in Part VII, line 46 (EIN).

  3. The field is valid if it’s blank.

Field 0446E
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0447
Volume Cap State Issuer Amount

  1. Field length - 15 positions

  2. Field 0447 is the Volume Cap State Issuer amount and located on Form 8038 in Part VIII, line 47.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0447
Correction Procedures
  1. To correct Field 0447:

    1. Correct any coding or transcription errors.

    2. 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.
  2. 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 0448
Volume Cap Unified State Amount

  1. Field length - 15 positions

  2. Field 0448 is the Volume Cap Unified State Amount and located on Form 8038 in Part VIII, line 48.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0448
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0449
Volume Cap Not Limited Unified State Amount

  1. Field length - 15 positions

  2. Field 0449 is the Volume Cap Not Limited Unified State amount and located on Form 8038 in Part VIII, line 49.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0449
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0449A
Volume Cap WFADW Amount

  1. Field length - 15 positions

  2. Field 0449A is the Volume Cap WFADW amount and located on Form 8038 in Part VIII, line 49a.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0449A
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0449B
Volume Cap Carryforward Elect Amount

  1. Field length - 15 positions

  2. Field 0449B is the Volume Cap Carryforward Elect amount and located on Form 8038 in Part VIII, line 49b.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0449B
Correction Procedures
  1. To correct Field 0449B:

    1. Correct any coding or transcription errors.

  2. 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.
  3. Rejects will:

    If Then
    a valid reply is received, 1) Attach the copy of Form 8328 to the return.
    2) Continue processing.
    an incomplete reply or a no reply is received, Enter CCC "3" and continue processing the return.

Field 0449C
Volume Cap Transitional Rule Amount

  1. Field length - 15 positions

  2. Field 0449C is the Volume Cap Transitional Rule amount and located on Form 8038 in Part VIII, Line 49c.

  3. The field is numeric and transcribed in dollars only.

  4. The s field is valid if it’s blank.

Field 0449C
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0449D
Volume Cap Exception Current Refunding Amount

  1. Field length - 15 positions

  2. Field 0449D is the Volume Cap Exception Current Refunding amount and located on Form 8038 in Part VIII, line 49d.

  3. The s field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0449D
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0450A
Volume Cap Qualified Veterans Mortgage Bond Amount

  1. Field length - 15 positions

  2. Field 0450A is the Volume Cap Qualified Veterans Mortgage Bond amount and located on Form 8038 in Part VIII, line 50a.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0450A
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0450B
Volume Cap Limit on Veterans' Mortgage Bond Amount

  1. Field length - 15 positions

  2. Field 0450B is the Volume Cap Limit on Veterans' Mortgage Bond amount and located on Form 8038 in Part VIII, line 50b.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0450B
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0451A
Volume Cap Issue Section 1394F Amount

  1. Field length - 15 positions

  2. Field 0451A is the Volume Cap Issue Section 1394F amount and located on Form 8038 in Part VIII, line 51a.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0451A
Correction Procedures
  1. To correct Field 0451A:

    1. Correct any coding or transcription errors.

    2. 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.
  2. Rejects will:

    If Then
    a valid reply is received, 1) Attach the certification to the return.
    an incomplete reply or no reply is received, 1) Enter CCC "3" and continue processing the return.

Field 0451B
Empowerment Zone Name

  1. Field length - 35 positions

  2. Field 0451B is the Empowerment Zone Name and located on Form 8038 in Part VIII, line 51b.

  3. This field is valid if blank.

Field 0451B
Invalid Conditions
  1. This field is invalid if:

    1. The first position isn't alpha or numeric.

    2. Any characters isn’t alpha, numeric, ampersand or hyphen.

    3. There’s two consecutive blanks, followed by valid characters.

Field 0451B
Correction Procedures
  1. To correct Field 0451B:

    1. Correct any coding or transcription errors.

    2. If the Empowerment Zone Name exceeds 35 characters, enter only the first 35 characters.

Field 0452
Volume Cap Issue Section 142K5 Amount

  1. Field length - 15 positions

  2. Field 0452 is the Volume Cap Issue Section 142K5 amount and located on Form 8038 in Part VIII, line 52.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0452
Correction Procedures
  1. To correct Field 0452:

    1. Correct any coding or transcription errors.

    2. 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.
  2. 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 04SIG
Signature Code

  1. Field length - 1 position

  2. 04SIG is the Signature Code and located in the right margin of the signature line.

Field 04SIG
Invalid Conditions
  1. Field 04SIG is invalid if:

    1. It’s not numeric

    2. The entry is other than "1" (signature present) or "3" (signature not present) after correspondence and no reply.

Field 04SIG
Correction Procedures
  1. 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.
  2. 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 04PRE
Preparation Code

  1. Field length - 1 position

  2. Field 04PRE is the Preparation Code and located in the right margin of the Preparer's PTIN line.

Field 04PRE
Invalid Conditions
  1. Field 04PRE - Preparation code is invalid if:

    1. It’s not numeric.

    2. The entry is other than "1" or "blank" .

Field 04PRE
Correction Procedures
  1. Enter a "1" in the right margin next to the Preparer's PTIN box if both of the following apply:

    1. The return is signed by a preparer.

    2. The paid preparer's section has information that’s different than the person signing the return.

Field 04PSN
Preparer's PTIN

  1. Field length - 9 positions

  2. Field 04PSN is the Preparer's PTIN and located in the paid Preparer's signature block, in the Preparer's PTIN box.

  3. 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
Invalid Conditions
  1. Field 04PSN is invalid if:

    1. The first position is other than numeric or a "P" .

    2. The field is all zeroes or all nines or the first position is "P" and the remaining positions are all zeroes or all nines.

    3. Other than the first position isn't numerics.

Field 04PSN
Correction Procedures
  1. Delete. Don’t attempt to correct the field.

Field 04PEN,
Preparer's EIN

  1. Field length - 9 positions

  2. Field 04PEN, is the Preparer's EIN and located in the Paid Preparer's signature portion in the Firm's EIN box.

  3. If present, The field may be any combination of numerics, except all zeros or all nines. The first character may be a "P" .

Field 04PEN
Invalid Conditions
  1. Field 04PEN is invalid if:

    1. The first position is other than numeric.

    2. The field is all zeroes or all nines.

Field 04PEN
Correction Procedures
  1. Delete. Don’t attempt to correct the field.

Field 04PTN
Preparer's Telephone Number

  1. Field length - 10 positions

  2. Field 04PTN, Preparer's Telephone Number, is located in the Paid Preparer's signature portion, in the Firm's Phone no. box.

  3. If present, the field is numeric.

Field 04PTN
Invalid Conditions
  1. The field will be invalid if it isn’t numeric.

Field 04PTN
Correction Procedures
  1. To correct Field 04PTN:

    If Then
    more than 10 digits is present, Enter the first 10 digits only and continue processing.
    the paid preparer's phone number is incomplete, illegible, or less than 10 digits, 1) Review the return and all attachments.
    2) 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 - Form 8038-G

  1. Section 05 alpha designators, title, location and field lengths are listed below:

    Section 05
    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 1515
    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   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   15

Field 0511 through 0518Z
Issue Price Amount

  1. Field length - 15 positions

  2. 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 3.12.26.8 above for specific fields and locations).

  3. The field(s) is numeric and transcribed in dollars only.

Field 0511 through 0518Z
Correction Procedures
  1. To correct Field 0511 - 0518Z:

    1. Refer to the return to verify the entries.

    2. 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)," or
    "Tribal Economic Development Bonds,"
    SSPND 211.
    there’s two money amounts present, and one of the amounts is listed as "other" on line 18, 1) Compare the issue price(s) in Part II, lines 11 - 18 against the issue price in Part III, line 21(b).
    2) 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 is 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 is blank, and can’t be perfected, SSPND 211
    at least one issue price amount can't be determined, SSPND 211
  2. Rejects will:

    If Then
    after reply is received, Perfect the return.
    the issuer’s reply indicates more than one issue amount, 1) Correct using the issue amounts as indicated in each Issue Price Amount field.
    2) 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 0519
Obligation Check Box

  1. Field length - 1 position

  2. Field 0519 is the Obligation Check Box and located on Form 8038-G in Part II, line 19.

  3. Field is valid if entries are 1, 2, 3 or blank.

Field 0519
Correction Procedures
  1. To correct Field 0519:

    1. Correct any coding or transcription errors.

    If Then
    the first box is checked, enter a "1" .
    the second box is checked, enter a "2" .
    the third box is checked, enter a "3" .
    no box is checked, leave blank.

Field 0520
Obligation Lease Installment Box

  1. Field length - 1 position

  2. Field 0520 is the Obligation Lease Installment Box and located on Form 8038-G in Part II, line 20.

  3. The field is valid if the entry is "1" or "blank" .

Field 0520
Correction Procedures
  1. To correct Field 0520:

    1. Correct any coding or transcription errors.

    If Then
    the box is checked, enter a "1" .
    the box isn't checked, delete the entry in Field 0520.

Field 0521A
Maturity Date

  1. Field length - 8 positions

  2. Field 0521A is the Maturity Date and is in YYYYMMDD format. It's located on Form 8038-G in Part III, line 21a.

Field 0521A
Correction Procedures
  1. To correct Field 0521A:

    1. 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.
  2. Rejects will:

    If Then
    a valid reply is received, Perfect the return.
    no reply or an invalid reply is received, 1) Circle out the date if present and leave blank.
    2) Enter CCC "3" and continue processing.

Field 0521B
Entire Issue Price

  1. Field length - 15 positions

  2. 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).

  3. The field is numeric and transcribed in dollars only.

Field 0521B
Invalid Conditions
  1. The field is invalid if blank.

  2. The field will under print if the transcribed and generated amounts differ by more than $999.99 (+/-).

Field 0521B
Correction Procedures
  1. To correct Field 0521B:

    If Then
    Field 0521B (line 21b) is blank, and there’s entries in lines 11-18z, 1) Add the amounts on lines 11 through 18z.
    2) 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.
  2. 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 0521C
Stated Redemption Maturity Amount

  1. Field length - 15 positions

  2. Field 0521C is the Stated Redemption Maturity amount and located on Form 8038-G Part III, line 21c.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0521C
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0521D
Weighted Average Maturity Years

  1. Field length - 4 positions

  2. Field 0521D is the Weighted Average Maturity Years and located on Form 8038-G in Part III, line 21d.

  3. The field is numeric only.

  4. The field is valid if it’s blank.

Field 0521D
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0521E
Yield Percentage

  1. Field length - 6 positions

  2. Field 0521E is the Yield Percentage and located on Form 8038-G in Part III, line 21e.

  3. The field is numeric only.

  4. The field is valid if it’s blank.

Field 0521E
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0522
Proceeds Accrued Interest Amount

  1. Field length - 15 positions

  2. Field 0522 is the Proceeds Accrued Interest amount and located on Form 8038-G in Part IV, line 22.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0522
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0523
Proceeds of Entire Issue Amount

  1. Field length - 15 positions

  2. Field 0523 is the Proceeds of Entire Issue amount and located on Form 8038-G in Part IV, line 23.

  3. The field is numeric and transcribed in dollars only.

Field 0523
Correction Procedures
  1. To correct Field 0523:

    1. 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 0524
Proceeds Bond Issue Amount

  1. Field length - 15 positions

  2. Field 0524 is the Proceeds Bond Issue amount and located on Form 8038-G in Part IV, line 24.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0524
Correction Procedures
  1. 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.
  2. Rejects will:

    1. After reply is received, perfect the return.

    2. If reply is incomplete or no reply is received, enter CCC "3" and continue processing.

Field 0525
Proceeds Credit enhancement Amount

  1. Field length - 15 positions

  2. Field 0525 is the Proceeds Credit enhancement amount and located on Form 8038-G in Part IV, line 25.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if blank.

Field 0525
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0526
Proceeds Reserve Replacement Amount

  1. Field length - 15 positions

  2. Field 0526 is the Proceeds Reserve Replacement amount and located on Form 8038-G in Part IV, line 26.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0526
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0527
Proceeds Used to Currently Refund Prior Issues

  1. Field length - 15 positions

  2. Field 0527 is the Proceeds Used to Currently Refund Prior Issues and located on Form 8038-G in Part IV, line 27.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0527
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0528
Proceeds for Advance Refund Amount

  1. Field length - 15 positions

  2. Field 0528 is the Proceeds for Advance Refund amount and located on Form 8038-G in Part IV, line 28.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0528
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0529
Total Proceeds Amount

  1. Field length - 15 positions

  2. Field 0529 is the Total Proceeds amount and located on Form 8038-G in Part IV, line 29.

  3. The field is numeric and transcribed in dollars only.

  4. The field will under print if the transcribed and generated amounts differ by more than ≡ ≡ ≡ ≡ ≡ ≡ .

Field 0529
Correction Procedures
  1. To correct Field 0529:

    1. Correct any coding or transcription errors.

    If Then
    Field 0529 (line 29) is blank, and there’s entries in Fields 0524 through 0528 (lines 24- 28), 1) Add the amounts on Fields 0524 through 0528 (lines 24- 28).
    2) 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), 1) Add Fields 0524-0528 (lines 24-28).
    2) Enter the amount on Field 0529 (line 29).

Field 0530
Net Non Refunding Proceeds Amount

  1. Field length - 15 positions

  2. Field 0530 is the Net Non Refunding Proceeds amount and located on Form 8038-G in Part IV, line 30.

  3. The field is valid if positive, negative, or blank

  4. The field is numeric and transcribed in dollars only.

  5. The field will under print if the transcribed and generated amounts differ by more than ≡ ≡ ≡ ≡ ≡ ≡

Field 0530
Correction Procedures
  1. To correct Field 0530:

    1. Correct any coding or transcription errors.

    If Then
    Field 0530 (line 30) is blank, N/A or zero, 1) Subtract Field 0529 (line 29) from Field 0523 (line 23).
    2) 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 - Form 8038-G

  1. Section 06 alpha designators, title, location and field lengths are listed below:

    Section 06
    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 0631
Weighted Average Currently Refunded Years

  1. Field length - 2 positions

  2. Field 0631 is the Weighted Average Currently Refunded Years and located on Form 8038-G in Part V, line 31.

  3. The field is numeric only.

  4. The field is valid if it’s blank.

Field 0631
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0632
Weighted Average Advance Refunded Years

  1. Field length - 2 positions

  2. Field 0632 is the Weighted Average Advance Refunded Years and located on Form 8038-G in Part V, line 32.

  3. The field is numeric only.

  4. The field is valid if it’s blank.

Field 0632
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0633
Refunded Bonds Call Date

  1. Field length - 8 positions

  2. Field 0633 is the Refunded Bonds Call Date, is in YYYYMMDD format and located on Form 8038-G in Part V, line 33.

  3. The field is numeric only.

  4. The field is valid if it’s blank.

Field 0633
Correction Procedures
  1. To correct Field 0633:

    1. Correct any coding or transcription errors.

    2. If more than one refunded bonds call date is present, enter the latest date shown.

Field 0634
Refunded Bonds Issue Date

  1. Field length - 8 positions

  2. Field 0634 is the Refunded Bonds Issue Date, is in YYYYMMDD format and located on Form 8038-G in Part V, line 34.

  3. The field is numeric only.

  4. The field is valid if it’s blank.

Field 0634
Correction Procedures
  1. To correct Field 0634:

    1. Correct any coding or transcription errors.

    2. If more than one issue date is present, enter the earliest issue date.

Field 0635
State Volume Cap Issue Amount

  1. Field length - 15 positions

  2. Field 0635 is the State Volume Cap Issue amount and located on Form 8038-G in Part VI, line 35.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0635
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0636A
Gross Proceeds Guaranteed Investment Contract (GIC) Amount

  1. Field length - 15 positions

  2. Field 0636A is the Proceeds GIC amount and located on Form 8038-G in Part VI, line 36a.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0636A
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0636B
GIC Maturity Date

  1. Field length - 8 positions

  2. Field 0636B is the GIC Maturity Date, is transcribed in YYYYMMDD format and located on Form 8038-G in Part VI, line 36b.

  3. The field is numeric only.

  4. The field is valid if it’s blank.

Field 0636B
Correction Procedures
  1. To correct Field 0636B:

    1. Correct any coding or transcription errors.

    2. If more than one GIC maturity date is present, enter the latest date shown.

Field 0637A
Proceeds Other Government Loan Amount

  1. Field length - 15 positions

  2. Field 0637A is the Proceeds Other Government Loan amount and located on Form 8038-G in Part VI, line 37a.

  3. The field is numeric and transcribed in dollars only.

  4. The field is valid if it’s blank.

Field 0637A
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0638A
Tax Exempt Issue Box

  1. Field length - 1 position

  2. Field 0638A is the Tax Exempt Issue Box and located on Form 8038-G in Part VI, line 37b, box.

  3. The field is numeric.

  4. The field is valid if entry is "1" or blank.

Field 0638A
Correction Procedures
  1. To correct Field 0638A:

    1. Correct any coding or transcription errors.

    If Then
    the box is checked, enter a "1" .
    the box isn't checked, delete the entry in Field 0637B.

Field 0638B
Date of Master Pool Obligation

  1. Field length - 8 positions

  2. 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.

  3. The field is numeric.

  4. The field is valid if it’s blank.

Field 0638B
Correction Procedures
  1. To correct Field 0636B:

    1. Correct any coding or transcription errors.

    2. If more than one date is present, enter the latest date shown.

Field 0638C
EIN of Master Pool Obligation

  1. Field length - 9 positions

  2. Field 0638C is the EIN of Master Pool Obligation and located on Form 8038-G in Part VI, line 38c.

  3. The field must be numeric.

  4. The field is valid if it’s blank.

Field 0638C
Correction Procedures
  1. To correct Field 0638C:

    1. Correct any coding or transcription errors.

Field 0639
Designated Issue Section 265 Box

  1. Field length - 1 position

  2. Field 0639 is the Designated Issue Section 265 Box and located on Form 8038-G in Part VI, line 38.

  3. The field must be numeric.

  4. The field is valid if entry is "1" or blank.

Field 0639
Correction Procedures
  1. To correct Field 0639:

    1. Correct any coding or transcription errors.

    If Then
    the box is checked, enter a "1" .
    the box isn't checked, delete the entry in Field 0639.

Field 0640
Penalty Payment Election Indicator Box

  1. Field length - 1 position

  2. Field 0640 is the Penalty Payment Election Indicator Box and located on Form 8038-G in Part VI, line 39.

  3. The field is numeric.

  4. The field is valid if the entry is "1" or "blank" .

Field 0640
Correction Procedures
  1. To correct Field 0640:

    1. Correct any coding or transcription errors.

    If Then
    the box is checked, enter a "1" .
    the box isn't checked, delete the entry in Field 0640.

Field 0641
Hedge Identifier Box

  1. Field length - 1 position

  2. Field 0641 is the Hedge Identifier Box and located on Form 8038-G in Part VI, line 40.

  3. The field is numeric.

  4. The field is valid if the entry is "1" or "blank" .

Field 0641
Correction Procedures
  1. To correct Field 0641:

    1. Correct any coding or transcription errors.

    If Then
    the box is checked, enter a 1.
    the box isn't checked, delete the entry in Field 0641.

Field 0642
Hedge Super-Integrated Indicator Box

  1. Field length - 1 position

  2. Field 0642 is the Hedge Super-Integrated Indicator box and located on Form 8038-G in Part VI, line 42.

  3. The field is numeric.

  4. The field is valid if the entry is "1" or "blank" .

Field 0642
Correction Procedures
  1. To correct Field 0642:

    1. Correct any coding or transcription errors.

    If Then
    the box is checked, enter a "1" .
    the box isn't checked, delete the entry in Field 0642.

Field 0643
Issuer Established Procedures Nonqualified Box

  1. Field length - 1 position

  2. Field 0643 is the Issuer Established Procedures Nonqualified check box and located on Form 8038-G in Part VI, line 43.

  3. The field must be numeric.

  4. The field is valid if the entry is "1" or "blank" .

Field 0643
Correction Procedures
  1. To correct Field 0643:

    1. Correct any coding or transcription errors.

    If Then
    the box is checked, enter a "1" .
    the box isn't checked, delete the entry in Field 0643.

Field 0644
Issuer Established Procedure to Monitor Section 148 Box

  1. Field length - 1 position

  2. Field 0644 is the Issuer Established Procedures to monitor Section 148 check box and located on Form 8038-G in Part VI, line 44.

  3. The field is numeric.

  4. The field is valid if the entry is "1" or "blank" .

Field 0644
Correction Procedures
  1. To correct Field 0644:

    1. Correct any coding or transcription errors.

    If Then
    the box is checked, enter a "1" .
    the box isn't checked, delete the entry in Field 0644.

Field 0645A
Portion of Proceeds used to Reimburse Expenditures

  1. Field length - 15 positions

  2. Field 0645A is the Portion of Proceeds used to reimburse expenditures amount and located on Form 8038-G in Part VI, line 45a.

  3. The field is valid if it’s blank.

  4. The field is numeric and transcribed in dollars only.

Field 0645A
Correction Procedures
  1. Correct any coding or transcription errors.

Field 0645B
Date Official Intent was Adopted

  1. Field length - 8 positions

  2. 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.

  3. The field is numeric.

  4. The field is valid if it’s blank.

Field 0645B
Correction Procedures
  1. To correct Field 0645B:

    1. Correct any coding or transcription errors.

    2. If more than one date is present, enter the latest date shown.

Field 06SIG
Signature Code

  1. Field length - 1 position

  2. 06SIG is the Signature Code and located in the right margin of the signature line.

Field 06SIG
Invalid Conditions
  1. Field 06SIG is invalid if:

    1. Not numeric

    2. The entry is other than "1 " (signature present) or "3 " (signature not present) after correspondence and no reply.

Field 06SIG
Correction Procedures
  1. 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.
  2. 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 06PRE
Preparation Code

  1. Field length - 1 position

  2. Field 06PRE is the Preparation Code and located in the right margin of the Preparer's PTIN line.

Field 06PRE
Invalid Conditions
  1. Field 06PRE - Preparation code is invalid if:

    1. It isn’t numeric

    2. The entry is other than "1" or "blank" .

Field 06PRE
Correction Procedures
  1. Enter a "1" in the right margin next to the "Preparer's PTIN" box if both of the following apply:

    1. The return is signed by a preparer.

    2. The paid preparer's section has information that’s different than the person signing the return.

Field 06PSN
Preparer's PTIN

  1. Field length - 9 positions

  2. Field 06PSN is the Preparer's PTIN and located in the paid preparer's signature block, in the Preparer's PTIN box.

  3. 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
Invalid Conditions
  1. Field 06PSN is invalid if:

    1. The first position is other than numeric or a "P" .

    2. The field is all zeroes or all nines or the first position is "P" and the remaining positions are all zeroes or all nines.

    3. Other than the first position isn't numerics.

Field 06PSN
Correction Procedures
  1. Delete. Don’t attempt to correct the field.

Field 06PEN,
Preparer's EIN

  1. Field length - 9 positions

  2. Field 06PEN, is the Preparer's EIN and located in the paid preparer's signature portion in the Firm's EIN box.

  3. 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
Invalid Conditions
  1. Field 06PEN is invalid if:

    1. The first position is other than numeric.

    2. The field is all zeroes or all nines.

Field 06PEN
Correction Procedures
  1. Delete. Don’t attempt to correct the field.

Field 06PTN
Preparer's Telephone Number

  1. Field length - 10 positions

  2. Field 06PTN, Preparer's Telephone Number, is located in the paid preparer's signature portion, in the Firm's Phone no. box.

  3. If present, the field is numeric.

Field 06PTN
Invalid Conditions
  1. The field is invalid if it’s not numeric.

Field 06PTN
Correction Procedures
  1. To correct Field 06PTN:

    If Then
    more than 10 digits is present, Continue processing, entering the first 10 digits only.
    the paid preparer's phone number is incomplete, illegible, or less than 10 digits, 1) Review the return and all attachments.
    2) 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 - Form 8038-GC

  1. Section 07 alpha designators, title, location and field lengths are listed below:

    Section 07
    Field Title Form 8038-GC Field Lengths