8038 Tax Forms

The IRS requires tax forms to be filed related to the issuance of tax-exempt bonds and taxable build America bonds.  Form 8038-G is an information return that is used for tax-exempt governmental obligations for issuances above $100,000.  Form 8038 is a form used by issuers of tax-exempt private activity bonds.  Form 8038-B is filed by issuers of build America bonds and recovery zone economic development bonds.

The forms are information filings.  The IRS seeks to collect information about the financing.  Some of the required items on the forms are the principal amount issued, issue price, interest payment frequency, purpose of the issue, yield, use of proceeds and whether or not the bonds are refunding bonds.  All issuers of state or local bonds must comply with the information reporting requirements forms.  Forms are due at the end of the quarter in which the bonds are issued.