14429

Tax Exempt Bonds Voluntary Closing Agreement Program Request

Agency
IRS
Revision
Rev. 2-2020
Fillable fields
120
Pages
4
Official source
IRS form page
Checked
October 21, 2026
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Page 1 of form 14429

Form 14429: Tax Exempt Bonds Voluntary Closing Agreement Program Request

Form 14429, Tax Exempt Bonds Voluntary Closing Agreement Program Request, goes with a request under the Tax Exempt Bonds Voluntary Closing Agreement Program (TEB VCAP). The form says TEB VCAP, described in Notice 2008-31, provides remedies for issuers of tax-advantaged bonds who voluntarily come forward to resolve a violation of the federal tax requirements for a bond issue that cannot be corrected under self-correction programs.

The form says its purpose is to assist issuers in submitting a complete and organized TEB VCAP submission request, and that it does not alter the requirements of IRC Section 7121, Notice 2008-31 or IRM 7.2.3. Most questions are answered Yes or N/A, with the page numbers of the request where each item appears. The form says tax-advantaged bonds include tax-exempt bonds, qualified tax credit bonds and direct pay bonds.

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What's on Form 14429

Issuer and additional parties, lines 1 to 14

The issuer's name, EIN, address and contact official, any name or EIN different from the Form 8038 series return, and the details of any additional party, with Forms 8821.

Authorized representative, lines 15 to 19

Whether a Form 2848 is attached, and the representative's name, title, PTIN, address and telephone number.

Bond information, lines 20 to 27

The name of the bond issue, issue date, CUSIP number and issue price, and whether the debt service schedule and copies of Forms 8038 series, 8038-CP, 8038-T and 8038-R are attached.

Violation and settlement terms, lines 28 to 37

The IRC sections involved, statements describing the violation and how it was found, the proposed settlement terms, a draft closing agreement and the source of funds for any payment or redemption.

Good faith, prior requests and disclosure, lines 38 to 47

Statements on examination and court status, dates of the violation, previous TEB VCAP and private letter ruling requests, disclosure on EMMA, third party fault and other information.

Issuer approval and signature

A declaration under penalties of perjury, with the signature and name of an official of the issuer and the date signed.

How to fill out Form 14429

  1. 1

    Answer each question

    The form says to fill in the requested information in each box, check Yes or N/A where a question asks about the request, and enter the page numbers of the request that hold each item answered Yes.

  2. 2

    Lines 1 to 19

    Enter the issuer, any additional parties and each authorized representative. If there is more than one additional party or representative, the form says to give their details on an attached schedule.

  3. 3

    Lines 20 to 27

    Enter the bond issue details and confirm which documents are attached, such as the full debt service schedule and the Form 8038 series return filed for the issue.

  4. 4

    Lines 28 to 47

    List the IRC sections, then answer each question on the violation, settlement terms, statements of good faith, prior requests and disclosure with Yes or N/A and page numbers.

  5. 5

    Sign and place it first

    The form says to sign it under penalty of perjury, date it and include it at the beginning of the request. An official of the issuer signs.

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Where it goes and what goes with it

Part of the VCAP request

The form goes at the beginning of the issuer's TEB VCAP request. The form says IRM Section 7.2.3 provides additional guidance on how to submit a request. It prints no mailing address.

Attachments the form asks about

Forms 8821 and 2848, the debt service schedule, copies of Form 8038 series returns and any Forms 8038-CP, 8038-T and 8038-R, and a draft closing agreement based on the VCAP Model Agreement.

Facts from other parties

The form says TEB accepts facts submitted by another party under penalties of perjury only if the issuer also certifies them. A separate penalty of perjury statement is attached for that party.

Not a self-correction

The form says TEB VCAP is for violations that cannot be corrected under self-correction programs described in the Income Tax Regulations or other published guidance.

Related forms

Who uses Form 14429?

  • Issuers of tax-advantaged bonds

    The form says a tax-advantaged bonds issuer may submit a TEB VCAP request to resolve a violation jeopardizing the tax-advantaged status of its bonds.

  • Other parties, with the issuer's permission

    Other parties, such as a conduit borrower or trustee, may participate in a request with the issuer's permission. Lines 7 to 14 identify them if they are to be added to the closing agreement.

  • Authorized representatives

    Lines 15 to 19 list each authorized representative with a name, title, PTIN, address and phone number, and ask whether a Form 2848 is attached for each one.

  • Several issuers or bond issues

    For a violation that affects multiple issuers or bond issues, such as a composite issue, the form says each issuer of an affected issue joins in the request, absent extraordinary circumstances.

The form is for bond issuers, not individual taxpayers. It says only the issuer may use it to submit a request.

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Questions about Form 14429

What is TEB VCAP?

The form says the Tax Exempt Bonds Voluntary Closing Agreement Program, described in Notice 2008-31, provides remedies for issuers of tax-advantaged bonds who voluntarily come forward to resolve a violation that cannot be self-corrected.

Can a conduit borrower or trustee file Form 14429?

No. The form says other parties may participate in a request with the issuer's permission, but only the issuer may use this form to submit a request.

Does Form 14429 change the program rules?

No. The form says it does not alter the requirements of IRC Section 7121, Notice 2008-31 or IRM 7.2.3. It is there to help issuers submit a complete and organized request.

Where is the form placed in the submission?

At the beginning. The form says to sign it under penalty of perjury, date it and include it at the beginning of the request.

What does "violation" cover on this form?

The form says the term violation includes multiple violations if more than one violation is identified in the submission.