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