Reminder: Use Revised Form 8038-CP to Claim Direct Pay Credits

Issuers of direct pay tax credit bonds should use the January 2022 version of Form 8038-CP for all future credit payment claims. Using a prior version of Form 8038-CP may cause processing delays.

Below are links to the revised form and instructions:

• Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds
• Form 8038-CP Instructions
• Schedule A, Specific Tax Credit Bonds Interest Limit Computation
• Watch Revisions to Form 8038-CP video for a detailed discussion of the January 2022 revisions

Note: If you’ve already filed Form 8038-CP, do not file a second return for the same interest payment date.

Form 8038-CP is used to claim refundable tax credit payments payable to issuers of qualified Build America bonds, recovery zone economic development bonds, and specified tax credit bonds.