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Section 26. Tax Exempt Bond Error Resolution Procedures›3.12.26 Tax Exempt Bond Error Resolution Procedures

Section 02 - 8038-TC

Internal Revenue Manual Part 3. Submission Processing · 2026-10-03 edition · updated 2026-10-04 · United States

Section 02 Alpha Designators, Title, Location and Field Lengths are listed below:

Field

Title

Form 8038-TC

Field Lengths

02TYP

Tax Credit Bond Code

Part II, Line 1

3

02CBX

Irrevocable Election Check Box

Part II, Line 3

1

02IDT

First Interest Payment Date

Part II, Line 4

8

02IPF

Interest Payment Date Frequency Code

Part II, Line 5

1

0231

Issue Price

Part III, Line 1

15

0232

Stated Redemption Price at Maturity

Part III, Line 2

15

0233

Final Maturity Date

Part III, Line 3

8

0234

Applicable Credit Rate

Part III, Line 4

4

0235

Maximum Term

Part III, Line 5

4

0236

Permitted Sinking Fund Yield

Part III, Line 6

6

0237

Interest Rate on Bonds

Part III, Line 7

6

0238A

Variable Rate Check Box

Part III, Line 8a

1

0241

Sales Proceeds

Part IV, Line 1

15

0242

Proceeds Used for Bond Issuance Cost

Part IV, Line 2

15

0243

Estimated Investment Proceeds

Part IV, Line 3

15

0244

Expected Available Project Proceeds

Part IV, Line 4

15

Expected Available Project Proceeds under print

Part IV, Line 4 under print

15

0245

Matching Pledged Funds

Part IV, Line 5

15

0246

Other

Part IV, Line 6

15

0247

Total Proceeds

Part IV, Line 7

15

025A

Amount of Loans to Qualified Borrowers

Part V, Line 1a

15

025B

Written Loan Commitment Check Box

Part V, Line 1b

1

025D

EIN of Borrower

Part V, Line 1d

9

0252

Land

Part V, Line 2

15

0253

Buildings and Structures

Part V, Line 3

15

0254

Equipment with Recovery Period > than 5 years

Part V, Line 4

15

0255

Equipment with Recovery Period < than 5 years

Part V, Line 5

15

0256

Grants

Part V, Line 6

15

0257

Demonstration Projects

Part V, Line 7

15

0258

Public Education Campaigns

Part V. Line 8

15

0259

Repairs or Other Rehabilitation Expenditures

Part V, Line 9

15

02510

Developing Course Materials and/or Staff Training Expenditures

Part V, Line 10

15

02511

Pay Principle, Interest or Premiums on Qualified Bonds

Part V, Line 11

15

02512

Refinance a Qualified Indebtedness

Part V, Line 12

15

02513

Other

Part V, Line 13

15

02514

Total Qualified Purpose Expenditures

Part V, Line 14

15

Total Qualified Purpose Expenditures under print

Part V, Line 14 under print

15

02515

Percentage of Available Project Proceeds

Part V, Line 15

6

02516

Portion of Proceeds to Reimburse Issuer

Part V, Line 16

15

02517

Date Official Intent was adopted

Part V, Line 17

8

Field 02TYP - Tax Credit Bond Code

Field length - 3 positions

Field 02TYP is the Tax Credit Bond (TCB) Code, located on Form 8038-TC in Part II, line 1.

Tax Credit Bond Codes 101, 106, 107 or 108 do not require a schedule.

Exceptions & meaning →

Field 02TYP - Invalid Conditions

Field 02TYP - Correction Procedures

Correct any coding or transcription errors.

Enter the code from Part II, line 1 in Field 02TYP.

Exceptions & meaning →

Get a plain-English answer with a citation back to this text.

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