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Form 8038G: Information Return for Tax-Exempt Governmental Bonds
IRS Form 8038-G is an Information Return for Tax-Exempt Governmental Bonds used by issuers of bonds priced $100,000 or more (issued after Dec 31 1986) to report issue details to the IRS, and must be filed on or before the 15th day of the second calendar month after the quarter in which the bond is issued.
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IRS Form 8038G - Information Return for Tax-Exempt Governmental Bonds
IRS Form 8038-G is an Information Return for Tax-Exempt Governmental Bonds used by issuers of bonds priced $100,000 or more (issued after Dec 31 1986) to report issue details to the IRS, and must be filed on or before the 15th day of the second calendar month after the quarter in which the bond is issued.
Risk Radar
Scan points- 1Filing the form before the bond’s issue date triggers a penalty.
- 2File the return before the bond’s issue date, which the instructions prohibit.
- 3Enter the issue price in the wrong column or omit it, causing the bond type to be unclear.
- 4Leave line 22 (pre‑issue interest proceeds) blank instead of entering zero when none are used.
- 5Fail to attach the required schedule listing user organizations and their EINs when proceeds go to others.
Plain English
This form reports each new tax‑exempt government bond to the IRS. It includes the bond’s price, type, interest rate, and how the proceeds will be used. You file it after the bond is issued and must sign it before mailing.
Submission Date
- Filing date: 2021-10-06 22:10:35
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when the issuer of a tax‑exempt governmental bond has an issue price of $100,000 or more and the bond was issued after December 31, 1986.
- Do not use it when the issue price is under $100,000.
- Check Form 8038‑GC instead when the issue price is under $100,000.
Form selector
Use this form or another form?
Issue price under $100,000
Required because smaller issues use a simplified return
✓ Verify issue price is below $100,000
Arbitrage rebate or penalty required
Separate return handles arbitrage rebate and penalty calculations
✓ Confirm arbitrage applies
Private activity bond issuance
Different reporting requirements for private activity bonds
✓ Ensure bond is private activity
Deadline or filing window
The filing window opens when the bond is issued. The return is due by the 15th day of the second calendar month after the quarter in which the issue occurred. An extension may be granted by requesting relief under section 3 of Rev. Proc. 2002‑48 and attaching a written explanation.
Checklist
What you need before filling it out
Issue price (line 21, column b)
Issue price amount of bond · Form line 21, column b (Form p.1)
Amended Return box
Indication of amendment · Part I heading of the form (Form p.1)
BAN checkbox (line 19b)
Confirmation bond is a short‑term anticipation note · Instructions p.2
Property exchange checkbox (line 20)
Details of non‑cash property exchanged · Instructions p.2
Penalty rate
Calculation of 1.5 % of available construction proceeds · Instructions p.2
Before you submit
- 1Verify the issue price is $100,000 or more.
- 2Enter the issuer’s name and EIN exactly as shown on the bond documents.
- 3Round all monetary amounts to whole dollars per rounding rules.
- 4Check the Amended Return box only if filing an amendment.
- 5Mark the BAN checkbox only if the bonds are short‑term anticipation notes.
- 6Mark the property exchange checkbox only if non‑cash property was exchanged.
- 7Do not attach copies of the trust indenture or other bond documents.
- 8Confirm you are not using Form 8038‑GC for this issue.
- 9Sign and date the form as the authorized representative.
- 10Mail to the IRS Center Ogden, UT 84201 using a private delivery service or USPS for proof of mailing.
How to file this form
- 1Determine the issue price and confirm it meets the $100,000 threshold.
- 2Complete Part I of Form 8038‑G with issuer information and bond details.
- 3Check applicable boxes (Amended Return, BAN, property exchange) as required.
- 4Round all monetary amounts to whole dollars following the rounding instructions.
- 5Sign and date the form as the authorized representative.
- 6Mail the completed form to the IRS Center Ogden, UT 84201 using an approved private delivery service or USPS for proof of mailing.
- 7Retain a copy of the filed form and the mailing receipt as proof of filing.
Known limitations
- 1Does not apply to bonds with an issue price under $100,000 (use Form 8038‑GC).
- 2Does not apply to private activity bond issues (use Form 8038).
- 3Does not apply to arbitrage rebate or penalty reporting (use Form 8038‑T).
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
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Fillable formOpen in Editor->Form 8038‑G is the October 2021 revision; the instructions direct users to the latest information page at IRS.gov/Form8038G for updates.
What changed or needs a fresh check
- Edition date — confirm it reads October 2021 (Instructions p.1).
- Fee — Not stated in the official source — verify on the agency site.
- Mailing address — confirm use IRS Center Ogden, UT 84201 (Instructions p.1).
- Signature — confirm issuer’s authorized representative signs and dates the form (Form p.2).
Quick Facts
Downloads
After you file
- 1Keep a copy of the filed Form 8038‑G and the mailing receipt for at least three years.
- 2Monitor for any IRS acknowledgment or notice of acceptance.
- 3If an error is discovered, file an amended return by checking the Amended Return box.
- 4Retain any correspondence related to the filing for future reference.
- 5Update internal records to reflect the filing date and details.
Sources
- SRCInstructions p.1 — revision date is October 2021.
- SRCInstructions p.1 — latest information page is IRS.gov/Form8038G.
- SRCInstructions p.1 — issuers of tax‑exempt governmental bonds must file Form 8038‑G for issues $100,000 or more (issued after Dec 31 1986).
- SRCForm p.1 — Caution: If the issue price is under $100,000, use Form 8038‑GC.
- SRCInstructions p.1 — For arbitrage rebate or penalty, use Form 8038‑T.
- SRCInstructions p.1 — For private activity bonds, use Form 8038.
- SRCInstructions p.1 — Mailing address: Department of the Treasury Internal Revenue Service Center Ogden, UT 84201.
- SRCInstructions p.1 — Private delivery services may be used; see IRS.gov/PDS for the list.
- SRCInstructions p.2 — Penalty is equal to 1 ½ % of the amount of the available construction proceeds that do not meet spending requirements.
- SRCInstructions p.2 — Check the Amended Return box in the heading of the form for corrections.
- SRCInstructions p.2 — If bonds are short‑term BANs, check box 19b; do not check both boxes.
- SRCInstructions p.2 — Check line 20 box if property other than cash is exchanged for the bond.
Common confusion points
When should I use Form 8038‑G vs. Form 8038‑GC?
The issue price threshold of $100,000 determines the correct form.
→ Verify the exact issue price before selecting the form.
Can I check both the BAN and property exchange boxes?
Instructions allow only one box to be checked.
→ Ensure only the applicable box is marked.
How do I round monetary amounts?
The rounding rule drops cents under 50 and rounds up 50‑99 cents.
→ Apply the rule to each line before totaling.
Can I use a private delivery service to mail to a P.O. box?
Private delivery services cannot deliver to P.O. boxes.
→ Use USPS if mailing to a P.O. box address.
What is the penalty percentage for construction proceeds?
The penalty is 1 ½ % of the amount of available construction proceeds that do not meet spending requirements.
→ Use the 1.5 % rate as stated in the instructions.
Do I need to attach the trust indenture with the return?
The instructions explicitly say not to submit copies of the trust indenture.
→ Do not attach any bond documents.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 8038‑G (Amended) — file an amended return to correct errors on a previously filed Form 8038‑G.
Questions about IRS Form 8038G
What is IRS Form 8038G used for?
This form reports each new tax‑exempt government bond to the IRS. It includes the bond’s price, type, interest rate, and how the proceeds will be used. You file it after the bond is issued and must sign it before mailing.
Who must file IRS Form 8038G?
Issuers of tax‑exempt governmental bonds with an issue price of $100,000 or more (issued after Dec 31 1986) must file Form 8038‑G for each issue.
What information does IRS Form 8038G require?
The return gathers the bond’s issue price, type, description, short‑term note status, yield, and the amounts of proceeds earmarked for interest, issuance costs and other uses (see Part II and Part IV, lines 18‑25).
When is IRS Form 8038G due?
File Form 8038‑G on or before the 15th day of the second calendar month after the close of the calendar quarter in which the bond is issued.
Where do I file IRS Form 8038G?
Send the completed form and any attachments to the Internal Revenue Service Center in Ogden, UT 84201; private delivery services listed on IRS.gov/PDS may be used for timely mailing.
How do I complete IRS Form 8038G?
Complete Part I to identify the reporting authority and check the amended‑return box if correcting a prior filing. In Part II enter the issue price, select the bond type, and provide a description (line 18) and short‑term note indication (line 19a). Fill Part IV with the amounts of proceeds used for pre‑issue interest (line 22) and issuance costs (line 24), writing “N/A” for lease or installment sales. Sign the form, attach any required schedules or letters, and mail it by the deadline.
What happens if IRS Form 8038G is filed incorrectly?
If the filing is late or incorrect, the issuer may face a penalty of 1½ % of the amount of available construction proceeds that fail to meet spending requirements for each six‑month period after issuance.
When should I use Form 8038‑G vs. Form 8038‑GC?
The issue price threshold of $100,000 determines the correct form. Verify the exact issue price before selecting the form.
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