Section 05 - Form 8038-G

Section 05 alpha designators, title, location and field lengths are listed below:

Field

Title

Form 8038-G

Field Lengths

0511

Education Amount

Part II, Line 11

15

0512

Health and Hospital Amount

Part II, Line 12

15

0513

Transportation Amount

Part II, Line 13

15

0514

Public Safety Amount

Part II, Line 14

15

0515

Environment Incl Sewage Amount

Part II, Line 15

15

0516

Housing Amount

Part II, Line 16

15

0517

Utilities Amount

Part II, Line 17

15

0518

Other Amount

Part II, Line 18

15

0518X

Special Additional Write in Field Issue Price Amount (currently not used)

Part II, Line 18X

15

0518Y

Special Additional Write in Field Issue Price Amount (currently not used).

Part II, Line 18Y

15

0518Z

Special Additional Write in Field Issue Price Amount (currently not used).

Part II, Line 18Z

15

0519

Obligation Check Box

Part II, Line 19

1

0520

Obligation Lease Installment Box

Part II, Line 20

1

0521A

Maturity Date

Part III, Line 21a

8

0521B

Entire Issue Price

Part III, Line 21b

15

0521B>

Entire Issue Price under print

Computer generated

15

0521C

Stated Redemption Maturity amount

Part III, Line 21c

15

0521D

Weighted Average Maturity Years

Part III, Line 21d

4

0521E

Yield Percentage

Part III, Line 21e

6

0522

Proceeds Accrued Interest Amount

Part IV, Line 22

15

0523

Proceeds of Entire Issue Amount

Part IV, Line 23

15

0524

Proceeds Bond Issue amount

Part IV, Line 24

15

0525

Proceeds Credit Enhancement Amount

Part IV, Line 25

15

0526

Proceeds Reserve Replacement Amount

Part IV, Line 26

15

0527

Proceeds Used to Currently Refund Prior Issues

Part IV, Line 27

15

0528

Proceeds for Advance Refund Amount

Part IV, Line 28

15

0529

Total Proceeds Amount

Part IV. Line 29

15

0529>

Total Proceeds Amount under print

15

0530

Net Non Refunding Proceeds Amount

Part IV, Line 30

15

0530>

Net Non Refunding Proceeds Amount under print

Computer generated

15

Field 0511 - 0518z is the Issue Price Amount and is 15 positions. Each issue price amount field may have an entry and located on the Form 8038-G in Part II, lines 11 through 18z (refer to IRM 3.12.26.13 above for specific fields and locations).

The field(s) is dollars only.

Refer to the return to verify the entries.

Correct any coding or transcription errors.

If

Then

Part II, line 18 (other) word is similar to the following:

"Build America Bonds (tax credit)"

"Build America Bonds (payment option)"

"Recovery Zone Economic Development Bonds (payment option)"

"Tribal Economic Development Bonds"

SSPND 211.

there are two money amounts present, and one of the amounts is listed as "other" on line 18,

Compare the issue price(s) in Part II, lines 11 - 18 against the issue price in Part III, line 21(b).

If all three match, circle out the money amount on line 18.

the type of issue is indicated, and the issue price is blank and can't be perfected from Part III, line 21(b),

SSPND 211.

the type of issue and the issue price are blank, and line 19 and/or 20 is checked, and Part III, line 21(b) has an entry,

Enter the amount from Part III, line 21(b) to Part II, line 18.

the type of issue and the issue price are blank, and line 19 and/or 20 isn't checked,

SSPND 211.

Part II, lines 11-18 (or attachments) indicate a type of issue, but the issue price is blank and Part III, line 21(b) has a dollar amount,

edit the amount from Part III, line 21(b) to the applicable Part II, line 11-18 that shows a type of issue.

Part II, lines 11 - 18 i blank, and can’t be perfected, at least one issue price amount can't be determined,

SSPND 211

Rejects will:

If

Then

after reply is received,

Perfect the return.

the issuer’s reply indicates more than one issue amount,

Correct using the issue amounts as indicated in each Issue Price Amount field.

Enter the total of all entries in 11a - 18z in Field 0522 (line 22) and Field 0523 (line 23).

the reply is incomplete or a no reply is received,

Enter CCC "3" and enter "1" in Field 0518

Field 0519 is the Obligation Check Box, located on Form 8038-G in Part II, line 19 and is 1 position.

It’s not numeric

The entry is other than "1" , "2" , "3" or "blank" .

Correct any coding or transcription errors.

If

Then

the first box is checked,

enter a "1" .

the second box is checked,

enter a "2" .

the third box is checked,

enter a "3" .

no box is checked,

leave blank.

Field 0520 is the Obligation Lease Installment Check Box, located on Form 8038-G in Part II, line 20 and is 1 position.

It’s not numeric.

The entry is other than "1" or "blank" .

Correct any coding or transcription errors.

If

Then

the box is checked,

enter a "1" .

the box isn't checked,

delete the entry in Field 0520.

Field 0521A is the Maturity Date and is in YYYYMMDD format. It's located on Form 8038-G in Part III, line 21a and is 8 positions.

Not in YYYYMMDD format.

Not within the valid year, month, day range.

Correct any coding or transcription errors.

If

Then

more than one date is present,

enter the latest date in Field 0321A.

the maturity date is the same or prior to the Date of Issue,

SSPND 211.

blank, and can’t perfect it from the document,

SSPND 211.

the maturity date contains an invalid year (earlier than 1950 or after 2099),

perfect from attachments.

the invalid year can't be perfected,

SSPND 211.

Rejects will:

If

Then

a valid reply is received,

Perfect the return.

no reply or an invalid reply is received,

Circle out the date if present and leave blank.

Enter CCC "3" and continue processing.

Field 0521B is the Entire Issue Price of the Bond, located on Form 8038-G in Part III, line 21b (total of lines 11 - 18z) and is 15 positions.

The field is dollars only.

The field is invalid if blank.

The field will under print if the transcribed and generated amounts differ by more than ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡.

Correct any coding or transcription errors.

If

Then

Field 0521B (line 21b) is blank, and there’s entries in lines 11-18z,

Add the amounts on lines 11 through 18z.

Enter the total in Field 0521B and 0523.

at least one issue price amount can't be determined per IRM 3.12.26.8.1.1,

SSPND 211.

Rejects will:

If

Then

reply is received,

perfect the return.

the issuer indicates more than one issue price amount,

correct using the issue price amounts as indicated in each Issue Price amount field.

no reply,

enter CCC "3" and enter "1" in Field 0518.

Field 0521C is the Stated Redemption Maturity Amount, located on Form 8038-G Part III, line 21c and is 15 positions.

The field is dollars only.

The field is valid if it’s blank.

Correct any coding or transcription errors.

Field 0521D is the Weighted Average Maturity Years, located on Form 8038-G in Part III, line 21d and is 4 positions.

The field is valid if it’s blank.

Correct any coding or transcription errors.

Field 0521E is the Yield Percentage, located on Form 8038-G in Part III, line 21e and is 6 positions.

The field is valid if it’s blank.

Field is invalid if not numeric or VR (variable rate) only.

Correct any coding or transcription errors.

Field 0522 is the Proceeds Accrued Interest Amount, located on Form 8038-G in Part IV, line 22 and is 15 positions.

The field is dollars only.

The field is valid if it’s blank.

Correct any coding or transcription errors.

Field 0523 is the Proceeds of Entire Issue Amount, located on Form 8038-G in Part IV, line 23 and is 15 positions.

The field is dollars only.

Correct any coding or transcription errors.

If

Then

Field 0523 (line 23) is blank,

enter the amount from Field 0521B (line 21b), in Field 0523 (line 23).

Field 0521B (line 21b) is blank,

follow the correction procedures for Field 0521B (IRM 3.12.26.8.5.2).

Field 0524 is the Proceeds Bond Issue Amount, located on Form 8038-G in Part IV, line 24 and is 15 positions.

The field is dollars only.

The field is valid if it’s blank.

Correct any coding or transcription errors.

If

Then

blank,

perfect from the document or attachments.

blank, and the computation is correct, (lines 24-28 equals line 29 and line 29 minus line 23 equal line 30),

leave Field 0324 (Part IV, line 24) blank.

blank and you’re unable to perfect from the document or attachments and the computations in lines 23 through 30 don’t match the entry on line 30,

SSPND 211.

Rejects will:

If

Then

a reply is received,

Perfect the return.

Continue processing.

no reply or incomplete reply is received,

Enter CCC "3" .

Continue processing return.

Field 0525 is the Proceeds Credit Enhancement Amount, located on Form 8038-G in Part IV, line 25 and is 15 positions.

The field is dollars only.

The field is valid if blank.

Correct any coding or transcription errors.

Field 0526 is the Proceeds Reserve Replacement Amount, located on Form 8038-G in Part IV, line 26 and is 15 positions.

The field is dollars only.

The field is valid if it’s blank.

Correct any coding or transcription errors.

Field 0527 is the Proceeds Used to Currently Refund Prior Issues and located on Form 8038-G in Part IV, line 27 and is 15 positions.

The field is dollars only.

The field is valid if it’s blank.

Correct any coding or transcription errors.

Field 0528 is the Proceeds for Advance Refund Amount, located on Form 8038-G in Part IV, line 28 and is 15 positions.

The field is dollars only.

The field is valid if it’s blank.

Correct any coding or transcription errors.

Field 0529 is the Total Proceeds Amount, located on Form 8038-G in Part IV, line 29 and is 15 positions.

The field is dollars only.

The field will under print if the transcribed and generated amounts differ by more than ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡.

Correct any coding or transcription errors.

If

Then

Field 0529 (line 29) is blank, and there are entries in Fields 0524 through 0528 (lines 24- 28),

Add the amounts on Fields 0524 through 0528 (lines 24- 28).

Enter the total in Field 0529.

there’s an amount on Field 0529 (line 29), and Fields 0524-0528 (lines 24-28) is blank,

enter the amount from Field 0529 (line 29) on Field 0524 (line 24).

Fields 0524-28 (lines 24-28) don’t equal Field 0529 (line 29),

Add Fields 0524-0528 (lines 24-28).

Enter the amount on Field 0529 (line 29).

Field 0530 is the Net Non Refunding Proceeds Amount, located on Form 8038-G in Part IV, line 30 and is 15 positions.

The field is valid if positive, negative, or blank

The field is dollars only.

The field will under print if the transcribed and generated amounts differ by more than ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡

Correct any coding or transcription errors.

If

Then

Field 0530 (line 30) is blank, N/A or zero,

Subtract Field 0529 (line 29) from Field 0523 (line 23).

Enter the results in Field 0530 (line 30).

subtracting Field 0529 (line 29) from Field 0523 (line 23) doesn't equal the amount on Field 0530 (line 30),

Subtract Field 0529 (line 29) from Field 0523 (line 23) and enter the amount on Field 0530 (line 30).