Get Form 8328 (rev. July 1998). Carryforward Election Of Unused Private Activity Bond Volume Cap

Form 8328 is essential for entities issuing private activity bonds to elect to carry forward unused volume cap. This guide provides clear, step-by-step instructions for completing the form online, ensuring compliance with IRS requirements.

Follow the steps to fill out Form 8328 online.

1. Click the ‘Get Form’ button to access the Form 8328 and open it in your preferred editing tool.
2. Enter the calendar year for which the election is made and the reporting authority in Part I. Ensure all information is accurate as this sets the context for the carryforward election.
3. Fill in the issuer’s name, employer identification number, address, city or town, state, and ZIP code in Part I. This basic information is necessary for identification and processing.
4. In Part II, calculate the unused volume cap. Start with the total volume cap of the issuer for the calendar year (line 1). Then fill in the required data for lines 2 through 4.
5. Line 2 requires the aggregate amount of private activity bonds issued by the issuer during the calendar year. Refer to the relevant section for precise bond information.
6. Line 3 is for the total amount of volume cap exchanged for the authority to issue mortgage credit certificates. Ensure your figures are verified to avoid discrepancies.
7. Line 4 should include the total amount of volume cap allocated to the private activity portion of governmental bonds. Add lines 2 through 4 for line 5.
8. Calculate the unused volume cap by subtracting line 5 from line 1 on line 6. This value is critical as it guides the subsequent carryforward amounts.
9. In Part III, identify and enter the purpose for which the carryforward is being made, such as qualified student loan bonds, qualified mortgage bonds, or qualified redevelopment bonds.
10. Complete any additional details required on lines 10a through 10j for specific exempt facility bonds. Tally the total carryforward amount on line 11.
11. Finally, the authorized public official must sign and date the form under penalties of perjury, ensuring that all provided information is correct and complete.
12. Review all entries for accuracy, then save any changes, and prepare the form for submission. You can download, print, or share the completed Form 8328 as needed.

Ensure compliance by filing your Form 8328 online today.