Section 03 — Internal Revenue Manual Part 3. Submission

Source Document or Record: Form 8038-T

Elem. No.

Data Element Name

Prompt

Fld. Term.

Instructions

(1)

Section Number

SECT:

if already present on the screen. Otherwise enter "03" .

(2)

Remittance

RMT

Enter the amount printed by a cash register in any location on the return or edited in green pencil in the "Balance Due" area.

Check the control document (813, 3893) if the amount is illegible.

Enter the RPS amount printed on the upper right corner of the return ONLY if underlined in green.

This is a MUST ENTER if pre-journalized credit amount E–(5), block header, was entered.

The error message "INVALID DATA" will appear if there is an amount in this field and there is no entry for pre-journalized credit amount in the block header.

(3)

Issue Price

L11 $

Enter the amount from line 11.

(4)

Computation Date

L12

Enter the "TO" date in MMDDYY format from line 12.

(5)

Arbitrage Rebate Checkbox

13CKBX

Enter a "1" if the box is checked on line 13.

(6)

Arbitrage Rebate

L13 $

Enter the amount from line 13.

(7)

Yield Reduction Checkbox

14CKBX

Enter a "1" if the box is checked on line 14.

(8)

Yield Reduction Amount

L14 $

Enter the amount from line 14.

(9)

QZAB Escrow Amount

L15 $

Enter the amount from line 15.

(10)

Months Since Date of Issue

L16

Enter a "1" if the 1st box is checked on line 16.

Enter a "2" if the 2nd box is checked on line 16.

Enter a "3" if the 3rd box is checked on line 16.

Enter a "4" if the 4th box is checked on line 16.

Enter a "5" if the 5th box is checked on line 16.

If no box is checked or more than one box is checked on line 16, press enter.

(11)

Penalty in Lieu of Rebate

L17 $

Enter the amount from line 17.

(12)

Date of Termination Election

L18

Enter the date in MMDDYY format from line 18.

(13)

Penalty Upon Termination

L19 $

Enter the amount from line 19.

(14)

Does Failure to Pay Timely Qualify Checkbox

20CKBX

Enter a "1" if the "Yes" box is checked on line 20.

Enter a "2" if the "No" box is checked on line 20.

(15)

Penalty Amount

L21 $

Enter the amount from line 21.

(16)

Interest on Underpayment

L22 $

Enter the amount from line 22.

(17)

Total Payment

L23

Enter the amount from line 23.

(18)

Amount of Unspent Proceeds

L24 $

Enter the amount from line 24.

(19)

Amount of Proceeds Used

L25 $

Enter the amount from line 25.

(20)

Amount Used for GIC's and Escrows

L26 $

Enter the amount from line 26.

(21)

Amount of Fees Paid

L27 $

Enter the amount from line 27.

(22)

Is the Issue a Variable Rate

L28

Enter a "1" for "Yes" or

a "2" for "No"

(23)

Did the Issuer Enter into a Hedge

L29

Enter a "1" for "Yes" or

a "2" for "No"

(24)

Were Gross Proceeds Invested

L30

Enter a "1" for "Yes" or

a "2" for "No"

(25)

Were Any Proceeds Invested Beyond

L31

Enter a "1" for "Yes" or

a "2" for "No"

(26)

Prepared by Issuer or Preparer

L32

Enter a "1" for "Issuer" or

a "2" for "Preparer" .

(27)

Signature Code

SIGN

Enter a "1" if a signature is present.

(28)

Preparation Code

PREP

Enter a "1" if information is present in the "Paid Preparer Use Only" section.

(29)

Preparer PTIN

PTIN

Enter the preparer’s PTIN.

(30)

Preparer EIN

PEIN

Enter the preparer’s EIN.

(31)

Preparer Telephone #

PTEL#

Enter the preparer’s telephone number.