Tax Exempt 

BondsFiling Requirements

Internal Revenue Service 

and

Tax Exempt and

Government Entities

(TE/GE)

Operating Division
Tax Exempt Bonds -

Filing Requirements

The Internal Revenue Service,

Tax Exempt & Government

Entities (TE/GE) Operating

Division offers specialized 

assistance to customers of tax

exempt bonds. State and local

officials can use this brochure

as a quick reference to some 

of the more common filing

requirement questions of tax

exempt bond customers.

An estimated $1.5 trillion is

currently invested in tax exempt

bonds, which are typically

issued by a government entity.

These governmental customers

are not subject to federal

income tax at the entity level.

They are, however, required to

file certain returns as a result of

issuing tax exempt bonds. The

issuance of tax exempt bonds

benefits a wide array of 

organizations representing a

significant portion of the 

economic sector. These 

organizations have widely 

varying needs, different annual

filing requirements, and 

minimum overlap in governing

tax law. 

Please see the enclosed chart on

filing requirements (types of

returns required to be filed and

due dates for filing), procedures

for filing a late return, and

common errors to look out for

when you file. Telephone

numbers for assistance are also

included in this brochure.
Filing Requirements

Use the following chart as a year-round guide to determine filing 

category, form(s) required, and due dates.

Customer Type of Return Due Dates(s) Late Payment(s)

Issuers of tax Form 8038, Information 15th day of the 2nd 

exempt qualified Return for Tax Exempt calendar month after

private activity bond. Private Activity Bond the close of the quarter

Issues in which the bonds 

were issued.

Issuers of tax exempt Form 8038-G, 15th day of the 2nd

government bonds of Information Return calendar month after

$100,000 or more. for Tax Exempt the close of the quarter

Government Obligations in which the bonds 

were issued.

Issuers of tax exempt Form 8038-GC, When the return is filed as:

government bonds of Information Return for • For single issue-15th day 

less than $100,000. Small Tax Exempt of the 2nd calendar month

Governmental Bond after the close of the 

The return is either filed Issues, Leases, and quarter in which the 

separately for each issue Installment Sales bonds were issued.

of less than $100,000 • Consolidated returnsor as a consolidated on or before Feb 15th

return for all issues of of the calendar year

less than $100,000 each following the year in which 

within the calendar year. the bonds are issued.

Issuers of tax exempt Form 8038-T, Payments for arbitrage A failure to timely pay

bonds to make: Arbitrage Rebate and rebate are generally due arbitrage rebate will be

• yield reduction payments Penalty in Lieu of 60 days after the end treated as not having

• arbitrage rebate payments Arbitrage Rebate of every 5th bond year occurred if:

• payments for penalty in during the term of the • the failure is not due to

lieu of rebate issue and 60 days from willful neglect, and

• the termination of the the date the issue is • the issuer submits a

election to pay a penalty discharged. Form 8038-T with a 

in lieu of rebate, or Yield reduction payments payment of the rebate 

• penalty for failing to pay are due at the same time amount owed, penalty 

arbitrage rebate on time as rebate payments. and interest. The penalty

Payments for penalty in may be waived under

lieu of rebate are due no certain circumstances.

later than 90 days after 

the end of each 6-month 

period relating to the 

penalty.

Issuing authority of Form 8328, Carry-forward This return must be filed Once the Form 8328 is

qualified private activity Election of Unused Private by the earlier of: filed, the issuer may

bonds to elect to carry- Activity Bond Volume Cap • Feb 15th of the calendar not revoke the carryforward any unused year following the year in forward election or 

volume cap for one or which the excess amend the carry-forward

more purposes. amount arises, or amounts shown on

• the date of issue of the return.

bonds pursuant to the

carry-forward election.
Procedures for Returns

Filed Late

You may be granted an extension of time to file Forms 8038,

8038-G, or 8038-GC as long as

the failure to file on time is not

due to willful neglect. Please

adhere to the following guidelines:

• Write on the top of the form:

This Statement is Submitted in

Accordance with IRS Revenue

Procedure 88-10.

• Attach a statement to the

form explaining why your

form was not timely submitted to the IRS, and

• Indicate whether the bond

issue in question is under

examination.

Request for Recovery of

Overpayment of

Arbitrage Rebate

In general, a request for recovery of overpayment of arbitrage

rebate can be made when you

can establish that an overpayment occurred.

Where to File

File all tax exempt bond

returns and requests for recovery of overpayment of arbitrage

rebate with the Internal

Revenue Service Center at the

following address.

Internal Revenue Service Center

Ogden, UT 84201

Signature

Your authorized representative must sign all tax

exempt bond returns (IRS

Forms 8038, 8038-G,

8038-GC, 8038-T, and

8328). The name and title

of the person signing the

return should be printed. 
Common Errors

Please use the tips below as a checklist to prevent mistakes 

commonly made on Forms 8038, 8038-G, and 8038-GC.

Double Checks

Authorized Representative Your authorized representative must sign 

the form and any applicable certification.

Also, be sure to print the name and title 

of the person signing the Form 8038. 

Employer Identification Number Make certain that you enter the employer

(EIN) and Name identification number (EIN) of the 

Make consistent on the return. governmental entity that issued the 

bonds. (The EIN of the entity receiving 

the benefit should not be used.)

Issue Date You must enter the issue date on the 

Enter on return. return. The date of issue is generally the 

date on which you physically exchange 

the bond(s) for the underwriter’s (or 

other purchaser’s) funds. The date of 

issue for a lease arrangement is the date 

on which the arrangement first starts 

accruing interest. 

Issue Price Generally, the issue price of bonds that 

Enter on return. are publicly offered is the first price at 

which a substantial amount of the bonds 

is sold to the public. Ten percent is a substantial amount. Please include the issue 

price on the return.

Maturity Date Please enter the last date that you must

Enter on return. redeem the entire issue.

“Amended Return” Block on Return IRS research shows that in some cases a 

Please do not check in error. return is mistakenly checked as “amended,” when in fact, it is more often an 

“original.” Please be careful not to 

check “Amended Return,” unless it is. 

Explanation with a Late Return If your return is filed late, you must have 

Attach a request for an extension to a statement attached setting forth the 

file return. reason(s) why your return was not 

submitted timely to the IRS. 
Tax Exempt Bonds Leadership

National Headquarters 

Washington, DC

W. Mark Scott . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(202) 283-9820

Director . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . main number (202) 283-2999

mark.scott@irs.gov

Frances T. Hallihan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(202) 283-9787

Executive Assistant frances.terry.hallihan@irs.gov

Clifford Gannett . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(202) 283-9798

Manager, Outreach Planning & Review clifford.j.gannett@irs.gov

Baltimore, MD

Charles Anderson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(410) 962-2269

Manager, Field Operations charles.m.anderson@irs.gov

Field Management

Denver, CO

Derek Knight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (303) 784-6001 ext. 293

derek.a.knight@irs.gov

Atlanta, GA

Cheryl Dinsmore . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(404) 338-8232

hazel.c.dinsmore@irs.gov

Baltimore, MD

Patricia E. Swann . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(410) 962-9424

patricia.e.swann@irs.gov

Saint Paul, MN

Jack Davis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(651) 312-7723

jack.r.davis@irs.gov

Independence, OH

Karen Skinder . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(216) 520-7052

karen.a.skinder@irs.gov
Telephone & Internet Assistance

TE/GE and Tax Exempt Bonds offer the

following primary contacts for answers

to your tax questions and for tax information materials:

Customer Account Services

toll free at (877) 829-5500

Tax Exempt Bonds

Web site at 

www.irs.gov/bonds
Department of the Treasury

Internal Revenue Service

www.irs.gov

Publication 3755 (5-2001)

Catalog Number 31840Q

IRS

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