8038-TC

Information Return for Tax Credit Bonds and Specified Tax Credit Bonds

Agency
IRS
Revision
Rev. November 2012
Fillable fields
225
Pages
5
Official source
IRS form page
Checked
October 21, 2026
Fill 8038-TC online
Page 1 of form 8038-TC

Form 8038-TC: Information Return for Tax Credit Bonds and Specified Tax Credit Bonds

Form 8038-TC, Information Return for Tax Credit Bonds and Specified Tax Credit Bonds, is filed by the issuer of a bond issue. The instructions say issuers use it "to provide the IRS with the information required by section 149(e)." A separate form is filed for each bond issue.

The IRS About page says Form 8038-TC is historical: the Tax Cuts and Jobs Act repealed the authority to issue tax-credit bonds and direct-pay bonds, and the repeal applies to qualified forestry conservation bonds, new clean renewable energy bonds, qualified energy conservation bonds, qualified zone academy bonds and qualified school construction bonds issued after December 31, 2017.

The form has eight parts plus Schedules A to D for specific bond types. The current form is the November 2012 revision and its instructions were revised in September 2018. You can fill out the form free in your browser on this page and download the result without an account.

What's on Form 8038-TC

Part I: Reporting Authority

The amended return box, issuer's name and EIN, a contact person, address, date of issue, name of issue, CUSIP number, and an officer's name, title and phone number.

Part II: Type of Issue

A three-digit Tax Credit Bond Code, a description, whether the issuer made an irrevocable election to apply section 6431(f), the first interest payment date and the payment frequency.

Part III: Description of Obligations

Issue price, stated redemption price at maturity, final maturity date, applicable credit rate, maximum term, permitted sinking fund yield, interest rate and variable rate details.

Parts IV and V: Proceeds and their use

Sale proceeds, issuance costs, investment proceeds and total proceeds, then the qualified purpose expenditures, such as loans, land, buildings, equipment and grants, and the percentage of proceeds they use.

Parts VI to VIII

The volume cap allocation, arbitrage and other miscellaneous questions, the signature and consent block, and Part VIII on consent to publish certain issue information.

Schedules A to D

Separate schedules for new clean renewable energy bonds (code 102), qualified energy conservation bonds (103), qualified zone academy bonds (104) and qualified school construction bonds (105).

How to fill out Form 8038-TC

  1. 1

    Part I

    Enter the name of the entity issuing the bonds, not the entity receiving the financing. Line 4 is for IRS use only. On line 9, enter the CUSIP number of the latest maturity and attach a list of all CUSIP numbers, or write "None."

  2. 2

    Part II

    Enter the three-digit code for the bond type. The instructions list 101 to 106 and 108 for other. If no section 6431(f) election was made, the instructions say to skip lines 4 and 5.

  3. 3

    Parts III to V

    Enter the obligation terms, the proceeds and how they are used. The instructions allow rounding to whole dollars, as long as all amounts are rounded.

  4. 4

    Part VI and attachments

    Enter the source and amount of any bond limitation allocation and attach a copy of the certificate, as the form asks. Issuers of specified tax credit bonds also attach the debt service schedule described in the Part II instructions.

  5. 5

    Schedules

    Complete the schedule for the bond type. The instructions say every attached schedule shows the issuer's name and EIN at the top.

  6. 6

    Sign

    The authorized representative signs and prints their name and title. Part VIII is signed by an officer if the issuer consents; the instructions say it does not apply to issuers that elected direct payment under section 6431(f).

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When and where to file

Due date

The instructions say to file on or before the 15th day of the 2nd calendar month after the close of the calendar quarter in which the bond was issued, and not before the issue date.

Specified tax credit bonds

The instructions say the form is filed at least 30 days before the first Form 8038-CP requesting payment for that issue.

Where to send it

File the form and attachments with the Department of the Treasury, Internal Revenue Service Center, Ogden, UT 84201.

Late filing

An extension may be granted under section 3 of Rev. Proc. 2002-48. The instructions say to type "Request for Relief under section 3 of Rev. Proc. 2002-48" at the top and attach a letter explaining the delay.

Amended return

Check the Amended Return box, report all the original information plus the changes, and attach an explanation titled "Amended Return Explanation."

Other forms

The instructions name Form 8038-T for arbitrage rebate payments and Form 8038-CP for requesting a direct payment of a refundable credit.

Related forms

Who files Form 8038-TC?

  • Issuers of qualified tax credit bonds

    The instructions say issuers file a separate Form 8038-TC for each tax credit bond issue issued after March 2010 and before January 1, 2018, such as qualified forestry conservation and qualified zone academy bonds.

  • Issuers of specified tax credit bonds

    Issuers of new clean renewable energy bonds, qualified energy conservation bonds, qualified zone academy bonds and qualified school construction bonds issued before January 1, 2018 also file it for each issue.

  • Authorized representatives

    The instructions say an authorized representative of the issuer signs the form and prints their name and title, and has authority to consent to disclosure of the issuer's return information.

  • Paid preparers

    Anyone paid to prepare the return generally signs it in the Paid Preparer Use Only area. The instructions say a regular, full-time employee of the issuer does not sign as preparer.

  • Not for build America bonds

    The instructions say build America bonds are reported on Form 8038-B instead.

The form is filed by the issuer of the bonds and signed by the issuer's authorized representative. It is not a form an individual bondholder files.

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Questions about Form 8038-TC

Can Form 8038-TC be used for new bonds?

The About page says the form is historical. The Tax Cuts and Jobs Act repealed the authority to issue tax-credit bonds and direct-pay bonds issued after December 31, 2017.

Who files Form 8038-TC?

The issuer of the bonds, with a separate form for each issue, signed by the issuer's authorized representative.

When is Form 8038-TC due?

On or before the 15th day of the 2nd calendar month after the close of the calendar quarter in which the bond was issued.

Where is it filed?

With the Department of the Treasury, Internal Revenue Service Center, Ogden, UT 84201.

How does it relate to Form 8038-CP?

For specified tax credit bonds, the instructions say Form 8038-TC is filed at least 30 days before the first Form 8038-CP for the issue, and only issuers that elected under section 6431(f) may file Form 8038-CP.

Which form is used for build America bonds?

The instructions say build America bonds are reported on Form 8038-B.