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Fort 6038-GG (Rev. 1-2012)
<br />When To File
<br />To file a separate return for a single issue, file
<br />Form 8(138-GC on or before the 15th day of
<br />the second calendar month after the close of
<br />the calendar quarter in which the issue is
<br />Issued.
<br />To file a consolidated return for multiple
<br />issues, file Form 8038-GC on or before
<br />February 15th of the calendar year following
<br />the year in which the issue Is Issued.
<br />Late tiling. An issuer may be granted an
<br />extension of time to file Form 8038-00 under
<br />section 3 of Rev. Proc. 2002-48, 2002-87
<br />I.R.B. 531, if it Is determined that the failure to
<br />file on time Is not due to willful neglect. Type
<br />or print at the top of the form, "Request for
<br />Relief under section 3 of flev. Proc. 2002-48."
<br />Attach to the Form 8038-GC a letter briefly
<br />stating why the form was not submitted to the
<br />IRS on time. Also indicate whether the
<br />obligation in question is under examination by
<br />the IRS. Do not submit copies of any bond
<br />documents, leases, or installment sale
<br />documents, See Where To Fife next.
<br />Where To File
<br />File Form 8038-GC, and any attachments,
<br />with the Department of the Treasury, Internal
<br />Revenue Service Center, Ogden, UT 84201.
<br />Private delivery services. You can use
<br />certain private delivery services designated by
<br />the IRS to meet the "timely mailing as timely
<br />filing/paying" rule for tax returns and
<br />payments. These private delivery services
<br />include. only the following:
<br />• DHL Express (DHL): DHL Same Day Service,
<br />• Federal Express (FedEx); Fed Ex Priority
<br />Overnight, FedEx Standard Overnight, FeclEx
<br />Way, FedEx International Priority, and FedEx
<br />International First.
<br />■ United Parcel Service (UPS): UPS Next Day
<br />Air, UPS Next Day Air Salver, UPS 2nd Day
<br />Air, UPS 2nd Day Air A.M., UPS Worldwide
<br />Express Plus, and UPS Worldwide Express.
<br />The private delivery service can tell you
<br />how to get written proof of the mailing date.
<br />Other Forms That May Be
<br />Requires!
<br />For rebating arbitrage (or paying a penalty in
<br />lieu of arbitrage rebate) to the Federal
<br />Government, use Form 6038-T, Arbitrage
<br />Rebate, Yleid Reduction and Penalty in Lieu
<br />of Arbitrage Rebate, For private activity
<br />bands, use Form 8038, Information Return for
<br />Tax -Exempt Private Activity Bond Issues.
<br />For a tax-exempt governmental obligation
<br />with an issue price of $100,000 or more, use
<br />Fora 8038-G.
<br />Founding to Whole Dollars
<br />You may show the money items on this return
<br />as whole -dollar amounts. To do so, drop any
<br />amount less than 50 cents and increase any
<br />amount from 50 to 99 cents to the next higher
<br />dollar.
<br />Definitions
<br />Obligattons. This refers to a single tax-
<br />exempt governmental obligation if Form
<br />8038-GC is used for separate reporting or to
<br />multiple fax -exempt governmental obligations
<br />ii the form is used for consolidated reporting.
<br />Tax-exempt obligation. This is any obllgagan
<br />Ineiudtng a bond, installment purchase
<br />agreement, or financial lease, on which the
<br />interest Is excluded from incoma under
<br />section 103.
<br />Tax-exempt governmental obligation. A
<br />tax-exempt obligation that is not a private
<br />activity bond (see below) is a tax-exempt
<br />governmental obligation. This Includes a bond
<br />Issued by qualified volunteer fire department
<br />under section 150(e).
<br />Private activity bond. This Includes an
<br />obligation issued as part of an Issue In which:
<br />More than 10% of the proceeds are to be
<br />used for any private activity business use, and
<br />More than 10% of the payment of principal
<br />or interest of the Issue Is either (a) secured by
<br />an interest in property to be used for a private
<br />business use (or payments for such property)
<br />or (b) to be derived from payments for
<br />property (or borrowed money) used for a
<br />private business use.
<br />It also includes a band, the proceeds of
<br />which (a) are to be used to make or finance
<br />loans (other than loans described in section
<br />141(c)(2)) to persons other than governmental
<br />units and (b) exceeds the lesser of 5% of the
<br />proceeds or$5 mifl€on.
<br />Issue. Generally, obligations are treated as
<br />part of the same issue only if they are issued
<br />by the same issuer, an the same date, and as
<br />part of a single transaction, or a series of
<br />related transactions. However, obligations
<br />Issued during the same calendar year (a)
<br />under a loan agreement under which amounts
<br />are to be advanced periodically (a "draw -
<br />down loan") or (b) with a term not exceeding
<br />270 days, may be treated as part of the same
<br />issue if the obligations are equally and ratably
<br />secured under a single indenture or loan
<br />agreement and are Issued under a common
<br />financing arrangement (for example; underthe
<br />same official statement periodically updated
<br />to reflect changing factual circumstances),
<br />Also, for obligations Issued under a draw -
<br />down loan that meets the requirements of the
<br />preceding sentence, obligations issued during
<br />different calendar years maybe treated as
<br />part of the same issue 9 all of the amounts to
<br />be advanced under the draw -down roan are
<br />reasonably expected to be advanced within 3
<br />years of the date of Issue of the first
<br />obligation. likewise, obligations (other than
<br />private activity bonds) Issued under a single
<br />agreement that is In the form of a lease or
<br />installment sale may be treated as part of the
<br />same Issue if all of the property covered by
<br />that agreement is reasonably expected to be
<br />delivered within 3 years of the date of issue of
<br />the first obligation.
<br />Arbitrage rebate. Generally, interest on a
<br />state or local bond is not tax-exempt unless
<br />the Issuer of the bond rebates to the United
<br />States arbitrage profits earned from Investing
<br />proceeds of the bond in higher yielding
<br />nonpurpose investments. See section 148(f).
<br />Construction issue. This Is an issue of tax-
<br />exempt bonds that meets both of the
<br />following conditions,.
<br />Page 2
<br />1. At least 75% of the available construction
<br />proceeds of the Issue are to be used for
<br />construction expenditures with respect to
<br />property to be owned by a governmental unit
<br />or a 501(c)(3) organization, and
<br />2. All of the bonds that are part of the Issue
<br />are qualified 601(o)(3) bonds, bonds that are
<br />not private activity bonds, or private activity
<br />bonds issued to Finance property to be owned
<br />by a governmental unit or a 501(c)(3)
<br />organization.
<br />In lieu of rebating any arbitrage that may be
<br />awed to the United States, the issuer of a
<br />construction Issue may make an Irrevocable
<br />election to pay a penalty. The penalty is equal
<br />to 1--112% of the amount of construction
<br />proceeds that do not meet certain spending
<br />requirements. See section 148(f)(4)(C) and the
<br />Instructions for Form 8038-T.
<br />Specific Instructions
<br />In general, a Form 8038-GC must be
<br />completed on the basis of available
<br />Information and reasonable expectations as of
<br />the date of Issue. However, forms that are
<br />filed on a consolidated basis may be
<br />completed on the basis of information readily
<br />available to the issuer at the close of the
<br />calendar year to which the form rotates,
<br />supplemented by estimates made in good
<br />faith.
<br />Part I -Reporting Authority
<br />Amended return. An Issuer may file an
<br />amended return to change or add to the
<br />information reported on a previously filed
<br />return for the same date of Issue. if you are
<br />filing to correct errors or ohange a previously
<br />filed return, check the `Amended Return" box
<br />in the heading of the form.
<br />The amended return must provide all the
<br />information reported on the original retumr in
<br />addition to the new corrected information.
<br />Attach an explanation of the reason for the
<br />amended return and write across the top
<br />'Amended Return Explanatlon."
<br />Line 1. The issuer's name is the name of the
<br />entity issuing the obligations, not the name of
<br />the entity receiving the benefit of the
<br />financing: In the case of a lease or installment
<br />sale, the issuer is the lessee or purchaser.
<br />tine 2. An Issuer that does not have an
<br />employer Identificatfon number (EIN) should
<br />apply for one on Form SS-4, Application for
<br />Employer Idant€fication Number. You can get
<br />this form on the IRS website at IRS.gov or by
<br />calling 1-800 TAX -FORM (1-800-829-3676).
<br />You may receive an EIN by telephone by
<br />following the instructions for Form SS-4.
<br />Lines 3 and 4. Enter the issuer's address or
<br />the address of the designated contact person
<br />listed on line 8. If the issuer wishes to use its
<br />own address and the issuer receives its mail
<br />in care of a third party authorized
<br />representative (such as an accountant or
<br />attorney), enter on the street address line
<br />"C/O" followed by the third party's name and
<br />street address or P.O. box. Include the suite,
<br />room, or other unit number afterthe street
<br />address. If the post office does not deliver
<br />mall to the street address and the issuer has a
<br />P.O. box. show the box number instead of the
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