The operating divisions established Service Level Agreements (SLAs). This document contains specific information on SLAs on activities that this IRM’s users do.

Our goal is to achieve consistency in the Business Master File (BMF) Code & Edit processing IRMs.

Ogden and Paper Processing Branch BMF Code & Edit and ERS section coordinate the effort to identify topics for BMF Consistency.

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

Text in normal print is the common process for BMF returns. The text in bold print is form-specific and applies to this IRM only.

The Tax Reform Act of 1986 requires issuers of Tax Exempt Bonds to file information returns with the Internal Revenue Service. It also requires that municipal bonds meet certain rules for the interest received by the bondholders to be exempt from federal income tax.

The table below lists the specific form type, MFT, Doc Code, and valid Report Number range as it applies to each TEB return. The Tax Class for all TEB returns is 3. The Document Code (Doc. Code) in the Document Locator Number (DLN) defines which form it specifically relates to.

Form 8038, Information Return for Tax Exempt Private Activity Bond Issues, is for issuers of tax exempt qualified private activity bonds to provide the IRS with the information required by IRC 149(e) and to monitor the requirements of IRC 141 through IRC 150.

Form 8038-G, Information Return for Tax Exempt Governmental Obligations, is for issuers of tax exempt governmental bonds of $100,000 or more to provide the IRS with information required by IRC 149(e).

Form 8038-GC, Information Return for Small Tax Exempt Governmental Bond Issues, Leases, and Installment Sales, is for issuers of tax exempt governmental bonds of less than $100,000, to provide the IRS with information required by IRC 149(e).

Form 8038-R, Request for Recovery of Overpayments Under Arbitrage Rebate Provisions, is for issuers of state and local bonds to request a refund of amounts previously paid with Form 8038-T. Form 8038-R replaces the letter procedure of Rev. Proc. 92.83, 1992-2 C.B. 487.

Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate, is for issuers of tax exempt bonds when paying arbitrage rebate (or penalty in lieu of rebate) to the United States as required under IRC 148(f), or the corresponding provisions of the 1954 Code; or to make a yield reduction payment in accordance with IRC 1.148-5(c). Payments may be made by a person acting on behalf of the issuer for bonds subject to IRC 103(c)(6)(D) of the 1954 Code. Under IRC 148(f), interest on a state or local bond isn’t tax exempt unless the issuer of the bond rebates to the United States on Form 8038-T, arbitrage profits earned from investing proceeds of the bond in higher yield nonpurpose investments.

Form 8328, Carryforward Election of Unused Private Activity Bond Volume Cap, is for the issuing authority of private activity bonds to elect to carry forward its unused volume cap for one or more carryforward purposes (see IRC 146(f)). A state may also use Form 8328 to carryforward the unused volume cap under IRC 142(k). Once Form 8328 is filed, the issuer may not revoke the carry forward election or amend the carry forward amounts on the form.

Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds, is for issuers of qualified bonds who elect to receive a direct payment from the federal government equal to the subsidy that would have otherwise been delivered through the federal tax credit for bonds.

Schedule A, (Form 8038-CP) Specified Tax Credit Bonds Interest Limit Computation, is used to compute the amount of the refundable credit payment allowed under section 6431(f) and must be completed for all specified tax credit bonds (NCREBs, QECBs, QZABs, and QSCBs).

Form 8038-B, Information Return for Build America Bonds and Recovery Zone Economic Development Bonds, is for reporting Build America Bonds and Recovery Zone Economic Development Bonds to provide the IRS with information required by IRC 149(e).

Form 8038-TC, Information Return for Tax Credit and Specified Tax Credit Bonds as the result of the new Hire bill, is for issuers of qualified tax credit bonds to provide the IRS with the information required by IRC 149(e).

Form 8703, Annual Certification of a Residential Rental Project, is for 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 IRC 142(d). If so, and certain other requirements are met, bonds issued in connection with the project are considered "exempt facility bonds" and the interest paid on them isn’t taxable to the recipient.

Municipal bonds may be classified as tax exempt (government or qualified private activity bonds) or taxable ( government or qualified private activity bonds).

Municipal bonds may be issued as governmental bonds or non-governmental bonds. Some non-governmental bonds are also called "qualified private activity bonds" . The following identifies a few bond categories:

Bonds are an "obligation" of any state or political subdivision thereof. Obligation means any valid evidence of indebtedness under general federal tax principles. Obligations are not limited to bonds or other securities but may also include written contracts such as installment sales contracts and loans to a municipality.

To be an obligation, money must be borrowed by a governmental entity, used for governmental or qualified purposes, and there must be an obligation to repay.

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

Use these definitions in this IRM:

Review all attachments to the return before you can consider the return processable.

Detach attachments only when specifically instructed.

Detach documents with an original signature. Don’t detach documents used to supplement or support the return (e.g., Debt Service Schedule is attached to a Form 8038-B).

Refer to the Campus Mail Routing Guide (MRG) for proper disposition of attachments not found in this section.

Edit action trail(s) (e.g., "Form 2848 DETACHED" ) in the lower left corner going vertically up the side of the return.

The Restructuring and Reform Act of 1998 Section 3705(a) requires all IRS employees who communicate with taxpayers by phone, in writing, or face to face, to give their name, unique identification number and telephone number when communicating with taxpayers.

When writing a letter, include the following:

If you’re not the best person to respond to taxpayer questions, include a telephone number the taxpayer may contact. In this case, use a standard signature.

There are no package mail-outs for TEB forms; therefore, no pre-printed labels exist for these forms.

This subsection provides procedures for processing special returns which includes amended, SFR, reprocessable, and statute.

We edit marks on the return for transcription to the Automated Data Processing (ADP) System through ISRP. Code and Edit must edit in red pencil/pen. Other areas can edit in brown, orange, purple or green.

The only items edited on the return are those to be transcribed except where specific instructions require editing of a non-transcribed item. Leave lines blank if the entry would be a zero amount unless otherwise instructed.

Never obliterate, alter, or erase the original entry on a return when deleting or correcting an entry. Make sure the original entry remains legible. Perfected entries provide a legible "edit trail" for anyone who may work with the return later.

For a description of specific edit marks, see the table below:

Use Action Codes (AC) to indicate whether correspondence, research, or some other action is needed. The AC sets the suspense period to be assigned to the return and places the return in the workable or unworkable suspense inventory.

When necessary, a three-digit Action Code will be assigned by the tax examiner. Action codes are valid on Form 8038, Form 8038-G, Form 8038-GC, Form 8328, Form 8038-T, Form 8038-B, Form 8038-TC, Form 8038-CP and Form 8703. Process any other returns through a manual correction system.

Edit the AC in the bottom left margin of the tax return.

Assign action codes in the following priority:

Attach Form 4227 when more than one AC is needed. Edit the second AC on Form 4227.

If more than one AC of the same priority is required (e.g., 310 and 341), edit the Action Code with the shortest suspense period and attach Form 4227 to indicate the second unprocessable condition. See Exhibit 3.11.26-7, ERS Action Codes.

Edit the following ACs when unable to perfect a return from the information present:

Continue perfecting the return after editing the action code(s).

Submission Processing no longer sends TEB acknowledgments. The TEB acknowledgment process was automated to allow issuance of either a CP 152, TEB Acknowledgment Notice, or CP 152A, Form 8038-CP Acknowledgment and Sequestration Notice, when a TC 150 posts to Master File. Both notices are issued for each tax exempt bond filed. The CP 152 /152A also generates to the POA if one is active for the specific tax period and form type.

The CP 152A generates on all Form 8038-CP and serves as both an acknowledgment notice and a notice of sequestration.

When we receive an acknowledgment request from an issuer or preparer asking IRS to return the attached letter and/or copy of their TEB return, don’t reply. Annotate on the return "copy" and line through the photocopy in red ink and leave attached to the original return and continue processing.

If an original return isn’t present, and the form is marked with wording similar to "Acknowledgment copy" or "Please stamp and return" , route to EO Accounts (MS: 6710).

If we receive a form with a revision date before the date shown below, renumber the return using the Return Conversion Chart. See Exhibit 3.11.26-3, Prior Year Conversion Charts for Form 8038, Form 8038-CP, Form 8038-G, Form 8038-GC, Form 8038-T, and Form 8703.

Edit the Computer Condition Code (CCC) as follows:

Edit one or more "CCC" when instructed to do so.

Valid "CCC" for Forms 8038, 8038-G, 8038-GC, 8038-T, 8038-CP, 8038-B, 8038-TC, 8328 and 8703 are D, F, G, R, 3 and 7. Condition Code "H" is only valid on Form 8038-G and CCC "X" and "C" is only valid for Form 8038-CP.

Refer to the following table for Computer Condition Codes:

When the due date of the return falls on a Saturday, Sunday or legal holiday, consider the return timely filed if postmarked by the first business day after that date per IRC 7503.

The table below lists the due dates for Form 8038, Form 8038-B, Form 8038-G, Form 8038-TC and Form 8038-GC (single & consolidated):

Form 8328 due date is shown below.

Form 8038-T due date is determined based on information provided in either Part II or Part III. If both Part II and Part III are completed and/or the due date can’t be determined as outlined below, edit ERS AC 211.

Form 8038-T Part II has the following:

Form 8038-T, Part III, line 16 has the following:

Form 8703 due date is shown below.

Form 8038-CP Fixed Rate Issues

Form 8038-CP Variable Rate Issues

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An early filed return is defined as a return whose received date is prior to its tax period ending date.

If you determine a Form 8038, Form 8038-B, Form 8038-G, Form 8038-GC, Form 8038-TC, Form 8328 or Form 8703 to be early filed, proceed as follows.

Early filed procedures do not apply to the Form 8038-CP. If you receive a Form 8038-CP and the return received date is 120 days prior to the IPD, route the return to the FAST unit, MS: 1114.

Taxpayers use Form 2848, Power of Attorney and Declaration of Representative, to authorize an individual to act on their behalf as a power of attorney (POA). The individual authorized must be a person eligible to practice before the IRS.

Taxpayers use Form 8821, Tax Information Authorization (TIA), to authorize a third party to inspect and/or receive a taxpayer's return or return information, and isn’t a POA. The third party can be an individual, corporation, firm, organization, or partnership.

Process Form 2848 or Form 8821 by completing the following:

If a POA/TIA request isn’t submitted on Form 2848 or Form 8821:

Accept reasonable cause and edit CCC "R" or "D" if the taxpayer has filed the following IRM 3.11.26.4.5, Computer Condition Codes.

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" .

All tax exempt bond returns must have a received date.

Perfect and/or edit the received date on the center portion of the return in MMDDYY format. If the filer entered a legible date, don’t edit.

If multiple received dates are stamped on the return, circle out all except the earliest received date.

If there is no received date or the date stamp is illegible on the return, edit the received date in the following order:

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A signature and jurat are required on all returns except the following:

If only the signature is missing, edit ERS AC 225.

Forms 8038, 8038-G, 8038-B, and 8038-TC: Located in Part I, line 8. If blank, edit from attachments (such as the Debit Service Schedule). If you can’t perfect it, leave blank.

Form 8038-T: Located in Part I, line 7. If blank, edit from attachments. If you can’t perfect it, leave blank.

Form 8703 - Located in Part III, line 16. If blank, edit from attachments. If you can’t perfect it, leave blank.

Form 8038-GC and Form 8328: Not valid for these forms. If present, delete entry.

To be processable, a return must contain all of these:

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

Form 8038-T is the only tax exempt bond form that will come with remittance. The green rocker money amount identifies the remittance.

If a green rocker amount is present on a Tax Exempt Bond form other than Form 8038-T, proceed as follows:

If we receive multiple Forms 8038-T (separate issues) attached to one another, and only the top document has a DLN and green rocker remittance, send the documents back to Receipt & Control, Deposit unit. They’ll cancel the DLN, correct the money and issue new DLNs for each of the returns.

Transcribe all money amount fields in dollars only.

For form revisions prior to 04/2011, see Exhibit 3.11.26-3, Prior Year Conversion Charts for Form 8038, Form 8038-CP, Form 8038-G, Form 8038-GC, Form 8038-T, and Form 8703.

Form 8038 is due on or before the 15th day of the 2nd calendar month (1 month and 15 days) after the close of the calendar quarter of the bond issuance.

Don’t edit a tax period on Form 8038. The transcribed "Date of Issue" generates the tax period.

Always perfect the entity information.

Part I, line 5, Report Number.

Part I, Line 7, Date of Issue

Part I, Line 8, Name of Issue

Part I, Line 9, CUSIP Number

Part II, Lines 11a – 20c, Type of Issue

Part III, Line 21, Column (a), Final Maturity Date.

Part III, Line 21, Column (b), Entire Issue Price

Part III, Line 21, Column (e), Yield Percentage

Part IV, Line 23, Issue Price of Entire Issue

Part IV, Line 29, Add lines 24 through 28, Total Proceeds

Part IV, Line 30, Non-refunding Proceeds of the Issue

Part V, Line 32a-d, NAICS Code and NAICS Amount of Non-refunding Proceeds

Part VI, Line 33, Remaining Weighted Average Maturity Currently Refunded Years

Part VI, Line 35, Last Date on which the Refunded Bonds will be Called

Part VI, Line 36, Date(s) the Refunded Bonds were Issued

Part VII, Line 37, Name of Governmental Unit(s) Approving Issue

Part VII, Line 38, Issue Designation under section 265(b)(3) check box

Part VII, Line 39, Election to pay a penalty check box

Part VII, Line 40a, Identification of a hedge check box

Part VII, Line 41 Hedge is super integrated check box.

Part VII, Line 42b, Final Maturity Date of the GIC

Part VII, Line 43, Issuer Established procedures for non-qualified bonds check box.

Part VII, Line 44, Issuer established procedures to monitor requirements of section 148 check box.

Part VII, Line 45b, Date Official Intent was adopted.

Part VII, Line 46, Issue Redevelopment Exempt Box/ Primary Private User Name/ Primary Private User EIN check box.

Part VIII, Line 47, Amount of State Volume Cap Allocated to the Issuer

Part VIII, Line 49b, Volume Cap Carryforward Election Amount

Part VIII, Line 51a, Volume Cap Issue Section 1394(f) Amount

Part VIII, Line 52, Volume Cap Issue Section 142(k)(5) Amount

Form 8038, Signature

Paid Preparer Social Security Number (SSN) or Preparer's Tax Identification Number (PTIN)

Paid Preparer EIN

Paid Preparer Phone Number

Transcribe all money amount fields in dollars only.

For form revisions before 09-2011, see Exhibit 3.11.26-3, Prior Year Conversion Charts for Form 8038, Form 8038-CP, Form 8038-G, Form 8038-GC, Form 8038-T, and Form 8703.

Form 8038-G is due on or before the 15th day of the 2nd calendar month (1 month and 15 days) after the close of the calendar quarter in which the bond is issued.

Don’t edit a tax period on Form 8038-G. The transcribed "Date of Issue" generates the tax period.

Always perfect the entity information.

Part I, Line 5, Report Number

Part I, Line 7, Date of Issue

Part I, Line 9, CUSIP Number

Part II, Lines 11 - 18, Type of Issue

Part III, Line 21, Column (a), Final Maturity Date

Part III, Line 21, Column (b), Entire Issue Price

Part III, Line 21, Column (e), Yield Percentage

Part IV, Line 23, Issue Price of Entire Issue

Part IV, Line 29, Add lines 24 through 28, Total Proceeds

Part IV, Line 30, Non-refunding Proceeds of the Issue

Part V, Line 31, Remaining Weighted Average Maturity Currently Refunded Years

Part V, Line 33, Last Date on which the Refunded Bonds will be Called

Part V, Line 34, Date(s) the Refunded Bonds were Issued

Part VI, Line 36b, Final Maturity Date of the GIC

Form 8038-G - Signature

Paid Preparer Social Security Number (SSN) or Preparer Tax Identification Number (PTIN)

Paid Preparer Employer Identification Number (EIN)

Paid Preparer Phone Number

For form revisions before 01/2012, see Exhibit 3.11.26-3, Prior Year Conversion Charts for Form 8038, Form 8038-CP, Form 8038-G, Form 8038-GC, Form 8038-T, and Form 8703.

All money fields are transcribed in dollars only.

Always perfect the entity information.

Tax Exempt Governmental Obligations that aren’t reported on a separate Form 8038-GC must be reported on a consolidated return, reporting all issues issued within the calendar year. These returns, Form 8038-GC (single) and Form 8038-GC (consolidated) have different due dates. To determine the correct due date, refer to the table below and Exhibit 3.11.26-2, Due Date Charts.

Edit the tax period (including current year returns) in YYMM format below the OMB number on Form 8038-GC. Use the "Issue Date" located in Part II, line 8b to determine the tax period.

Part I, Line 5, Report Number

Part II, Description of Obligations, Single or Consolidated Check Box

Part II, Line 8a, Entire Issue Price

Part II, Line 8b, Issue Date

Part II, Line 9a through 9k, amount of reported obligations.

Part II, Line 10, Issuer has Designated any Issue under Section 265(b)(3)(B)(i)(III) Check Box

Part II, Line 11, Issuer has elected to Pay a Penalty in Lieu of Arbitrage Rebate Check Box

Form 8038-GC, Signature

Paid Preparer Social Security Number (SSN) or Preparer Tax Identification Number (PTIN)

Paid Preparer Employer Identification Number (EIN)

Paid Preparer Phone Number

Transcribe all money amount fields in dollars only, with the exception of line 23, (transcribed in dollars and cents).

For form revisions before to 04/2011, see Exhibit 3.11.26-3, Prior Year Conversion Charts for Form 8038, Form 8038-CP, Form 8038-G, Form 8038-GC, Form 8038-T, and Form 8703.

Don’t edit the tax period. The transcribed "Date of Issue" generates the tax period on Form 8038-T.

Form 8038-T remittance is identified as a green rocker money amount. If a green rocker amount is present on a tax exempt bond form other than Form 8038-T, proceed as follows:

If we receive multiple Forms 8038-T (separate issues) attached to one another, and only the top document has a DLN and green rocker remittance, send the documents back to Receipt & Control, Deposit unit. They’ll cancel the DLN, correct the money and issue new DLNs for each of the returns.

If Form 8038-T is annotated "Special Yield Reduction Payment Made Pursuant to Revenue Procedure 95-47" (or similar verbiage) in the top margin of the return, refer to the procedures outlined below.

Always perfect the entity information.

Part I, Line 4, Report Number

Part I, Line 6, Date of Issue

Part I, Line 8, CUSIP Number

Part I, Line 11, Entire Issue Price

Part II, Line 12, Computation Date to which this Payment Relates

Part II, Line 13, Arbitrage Rebate Payment Check Box

Part II, Line 14, Yield Reduction Payment Check Box

Part III, Line 16, Number of Months Since Date of Issue Check Boxes

Part III, Line 18, Date of Termination Election

Part IV, Line 20, Does Failure to Pay Timely Qualify for Waiver of Penalty Check Box

Part V, Line 23, Total Payment Amount

Part VI, Line 28, Is the Issue a Variable Rate Issue Check Box

Part VI, Line 29, Did the Issuer Enter into a Hedge Check Box

Part VI, Line 30, Were Gross Proceeds Invested in a GIC Check Box

Part VI, Line 31, Were any Gross Proceeds Invested Beyond an Available Temporary Period Check Box

Part VI, Line 32, Calculation for Filing of this Form Prepared by Check Box

Form 8038-T, Signature

Paid Preparer's Preparer Tax Identification Number (PTIN)

Paid Preparer Employer Identification Number (EIN)

Paid Preparer Phone Number

Transcribe all money amount fields in dollars only.

Edit the tax period in YY12 format below the OMB number on Form 8328. If the return is for the current tax year or blank, edit the calendar year preceding the year the return is filed to determine the tax period (e.g., IRS received date is February 15, 2020, then edit the tax period to be December 31, 2019). If a calendar year is other than current or blank, edit the tax period as shown on the return (e.g., calendar year is 2019, edit tax period as 1912).

Reasonable cause or Rev. Proc. 88-10, Rev. Proc. 2002-48 or Rev. Proc. 90-11 doesn’t apply to this form.

Form 8328s due the 15th of the second month (1 month and 15 days) following the end of the calendar year.

Always perfect the entity information.

Part I, Report Number

Part II, Line 1, Total Volume Cap

Part II, Line 5, Total Volume Cap

Part II, Line 6, Unused Volume Cap

Part II, Line 11, Total Carryforward Amount

Part III, Line 14, Unused Volume Cap Available for Carryforward

Part III, Line 15, Amount elected to Carryforward

Form 8328, Signature

Do not edit a tax period on Form 8038-CP. The transcribed" Interest Payment Date" generates the tax period. The first valid tax period is 02/17/2009. If a tax period (IPD) is not present, refer to paragraph (9) below.

All money fields is transcribed in dollars and cents.

Form 8038-CP requires "expedite processing" to ensure the refund is sent out within 45 days from the received date (6 day cycle). If found in a batch other than 6 day cycle, pull out for special handling for “ISRP walk through”.

Refer to IRM 3.11.26.3.8.2, True Duplicate Returns, for Form 8038-CP statute procedures.

Form 8038-CP is a refund return and the 45-day jeopardy / $100 million dollar refunds apply. See IRM 3.11.26.3.8.7, Form 8038-CP Refund Return / 45-day Jeopardy / $100 Million Dollar Refunds, for additional information.

Effective January 01, 2022, programming was revised to allow the Issuer’s entity information located in Part II (lines 7 through 11) to post to Master File as the primary EIN (module). Form 8038-CP can also be filed electronically.

Form 8038-CP was also revised effective January 1, 2022, which includes new explanation codes (lines 21c, 23b, 24b) and Schedule A, Specified Tax Credit Bonds Interest Limit Computation.

New CRX Letter 6436C, Form 8038-CP Missing Information Request, replaced CRX Letter 4617C when corresponding for missing and/or incomplete information pertaining to Form 8038-CP,

The following fields must be edited by Field Assistance Support Team (FAST) prior to receipt in Code and Edit. All FAST editing is done in green. If these fields haven’t been edited or require additional research, contact FAST via secured e-mail as outlined below. FAST will provide a response within 24 hours. The FAST manager, Submission Processing Code and Edit P&A analyst and the TE/GE HQ analyst with oversight of this program must also be copied (cc) on the e-mail.

During the editing process, if you need to contact FAST for correction or clarification on one of the items above, refer to the following procedures. This also applies to Form 3210 discrepancies.

A return may also be annotated with "SOL" (Statute of Limitations) or "True Duplicate" (if applicable) in the top left margin of the Form 8038-CP. This editing is done in green by FAST. If the return is a statute of limitation (SOL), then CCC "X" must also be edited on the document. If the return is a "True Duplicate" CCC "O" is not required.

Always perfect the entity in Part I. Refer to IRM 3.11.26.3.7, Entity Perfection - General, for additional information.

The Part I entity area on a Form 8038-CP identifies the Payee or entity that receives the credit payment. The entity area in Part I contains the following lines 1, 2, 3, and 4. Always perfect these lines as needed.

Edit CCC "C" in Part III, within lines 18 - 19c of Form 8038-CP. CCC "C" must be edited on all Forms 8038-CP. This indicates the return is subject to the sequestration decrease per the requirements of the Balanced Budget and Emergency Deficit Control Act of 1985, as amended, relating to certain automatic reductions effective March 1, 2013.

During annual implementation of the new sequestration percentage rate, it will be necessary to hold all Forms 8038-CP until the revised rate is programmed. This normally occurs in September and October. SERP Alerts will be issued providing specific dates when the time approaches. C&E 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 P&A analyst who has oversight of Rejects. The P&A analyst will monitor the returns daily to ensure credit payments are refunded prior to the Interest Payment Date (IPD). Rejects will issue manual refunds as necessary during the holding period in order to meet an IPD at the applicable sequestration percentage rate.

If a reply to the Letter 6436C is attached to a Form 8038-CP, take the following action.

Name Control, Part I, Line 1

Part 1, Line 2, Employer Identification Number (EIN) (Payee)

Part II, Line 7, Issuer’s Name

Part II, Line 8, Employer Identification Number

Part II, Line 9, Number and Street

Part II, Line 10, Report Number

Part II, Line 11, City, Town or Post Office, State and ZIP Code

Part II, Line 12, Date of Issue

Part II, Line 13, Name of Issue

Part II, Line 14, CUSIP Number

Part II, Line 17a, Variable/Fixed Rate Check Boxes

Form 8038-CP Variable Rate Issues

Form 8038-CP Fixed Rate Issues

Variable or fixed rate check box:

Part II, Line 17b, Issue Price

Part II, Line 17c, Type of Bond Code

Part II, line 18, Interest Payment Date (IPD)

Part III, line 19a, Interest Payable to Bondholders

Part III, Line 19b, Applicable Credit Rate

Part III, Line 19c, Interest Payable to Bondholders Based on Applicable Credit Rate.

Part III, Line 20a through 20f, Amount of Credit Payment to be Received.

Part III, Line 21a, Net Increase to Previous Payments or Line 21b, Net Decrease to Previous Payments

Part III, Line 21c, Net Increase or Decrease Explanation Code

Part III, Line 22, Amount of Credit Payment to be Received

Part III, Line 23a, Has There Been a Change to the Debt Service Schedule Check Boxes

Part III, Line 23b, Debt Service Schedule Explanation Code

Part III, Line 24a, Are You Current on Your Interest Payments Check Box

Part III, Line 24b, Explanation Code

Part III, Line 25, Final Interest Payment Date Check Box

Signature

Paid Preparer Social Security Number (SSN) or Preparer's Tax Identification Number (PTIN)

Paid Firm’s EIN

Paid Preparer Phone Number

Transcribe all money fields in dollars only.

The current form revision is Nov. 2012.

Don’t edit a tax period on Form 8038-B. The transcribed "Date of Issue" generates the tax period. The first valid tax period is 02/17/2009. If the "Date of Issue" is before 02/17/2009, edit ERS AC 211.

In order to properly edit Part II, lines 1b or 1c, a "Debt Service Schedule" must be attached. If one isn’t attached, edit ERS AC 211.

Always perfect the Entity information.

Part I, Line 4, Report Number

Part I, Line 7, Date of Issue

Part I, Line 9, CUSIP Number.

Part II, Lines 1a, 1b, or 1c, Type of Bond. Only one box can be checked and is edited to the right of Part II, line 1b.

Part II, Line 2, First Interest Payment Date

Part II, Line 3, Interest Payment Date Frequency, Check Box

Part III, Lines 1a - 1h and Lines 2a - 2d, Purpose of Issue,

Part III, Line 3, Total Issue Price

Part III, Line 4, Obligations are TANs or RANs, or BANs, Check Box

Part III, Line 5, If Obligations are in the form of a Lease or Installment Sale, Check Box

Part IV, Line 2, Final Maturity Date

Part IV, Line 3, Weighted Average Maturity Years

Part IV, Line 4, Yield Percentage

Part IV, Line 5a, Is the Issue a Variable Rate Issue, Check Box

Part VI, Line 3, Last Date on which the Refunded Bonds will be Called

Part VI, Line 4, Date(s) the Refunded Bonds were Issued

Part VII, Line 1, State Volume Cap allocated to the Issue Amount

Part VII, Line 2b, Final Maturity Date of the GIC

Part VII, Line 4a, Loan Made from Proceeds of another Tax Exempt Issue, Check Box

Part VII, Line 4b, Date of Master Pool Obligation

Part VII, Line 5a, If the Issuer entered into a Hedge, Check Box

Part VII, Line 6, If the Issuer has superintegrated the Hedge, Check Box

Part VII, Line 7, If the Issuer elected to Pay a Penalty in Lieu of Arbitrage Rebate, Check Box

Part VII, Line 8, If the Issuer Established Procedures to ensure Nonqualified Bonds are Remediated Under Section 1.141-12, Check Box

Part VII, Line 9, If the Issuer Established Procedures to monitor the Requirements under IRC Section 148, Check Box

Signature

Paid Preparer Social Security Number (SSN) or Preparer Tax Identification Number (PTIN)

Paid Preparer Employer Identification Number (EIN)

Paid Preparer Phone Number

Part VIII, Line 1 Consent to Disclosure of Certain Information, Check Box

Transcribe all money fields in dollars only.

Don’t edit a tax period on Form 8038-TC. The transcribed "Date of Issue" generates the tax period. The first valid tax period is 03/18/2010. If the date of issue is before to 03/18/2010, edit ERS AC 211.

The current form revision is Sept. 2017.

Always perfect the Entity information.

Part I, Line 4, Report Number

Part I, Line 7, Date of Issue

Part I, Line 9, CUSIP Number