Form 8038-CP


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What Is Form 8038-CP

Form 8038-CP, officially known as the "Return for Credit Payments to Issuers of Qualified Bonds," is a tax document provided by the Internal Revenue Service (IRS). This form serves a crucial role for state and local governments, allowing them to claim a refundable credit payment for various types of bonds. These bonds generally include Build America Bonds (BABs), Recovery Zone Economic Development Bonds, and specified tax credit bonds. The form is part of the IRS's efforts to support governmental bodies in financing public projects by providing federal subsidies through credit payments.

Form 8038-CP 2023-2024 PDFLiner screenshot

When to Use the IRS 8038-CP Form

The IRS 8038-CP Form is used by issuers of certain qualified bonds in specific situations. Here is a list of scenarios where this form is applicable:

  • Issuers can receive a direct payment from the Treasury Department, representing a portion of the interest payment on these bonds.
  • Recovery Zone Economic Development Bonds: Like BABs, issuers can claim a direct subsidy for a percentage of the interest cost.
  • Qualified School Construction Bonds and Qualified Zone Academy Bonds: For these bonds, issuers can use Form 8038-CP to claim a direct credit payment, aiding in covering the interest expense.
  • Clean Renewable Energy Bonds and Qualified Energy Conservation Bonds: Issuers in renewable energy and conservation projects also use this form to claim direct payments from the Treasury.

How to Fill Out Form 8038 CP Instructions

Filling out Form 8038-CP requires a step-by-step approach to ensure accuracy and compliance.

Identify the Type of Bond: 

Mention the type of bond for which you are claiming the credit payment.

Provide Issuer's Information: 

Fill out the name, Employer Identification Number (EIN), address, and contact details of the issuer.

Bond Information: 

Enter the issue date, CUSIP number, and bond amount.

Credit Payment Details: 

Calculate the credit payment amount, which depends on the type of bond and the applicable credit rate or subsidy percentage.


If necessary, make any adjustments for prior overpayments or underpayments.

Declaration and Signature: 

An authorized representative must sign the form. Ensure that all the information is accurate to the best of their knowledge.

Attach Schedules: 

Include any required schedules or additional documents, if applicable.

Where To File Form 8038 CP

Knowing the designated submission location is vital for the issuers ready to file Form 8038-CP. Proper filing ensures your form is processed timely and your entity receives the credit payment promptly.

Remember that the mailing address could change, so it's crucial to refer to the most recent updates from the IRS to confirm the correct filing location. Allow ample time for mailing and processing, and consider using certified or express mail services to track and confirm delivery.

Fillable IRS Form 8038-CP
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