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Form 8330 (Rev. 10-2012) Page 2
General Instructions not include all the MCCs issued on a timely filed Line 8. Include the total amount of MCCs issued for
return is subject to a penalty. The penalty is $200 for all prior quarters under the MCC program elected for
Section references are to the Internal Revenue Code each MCC required to be reported on Form 8330. the nonissued bond amount shown in Part I, whether
unless otherwise noted. The maximum penalty is $2,000. or not issued during the current calendar year.
Section 25 permits issuers that have authority to Definitions Line 9. Enter the aggregate, as of the end of the
issue qualified mortgage bonds (as defined in quarter, of amounts for all certificates issued for the
section 143) to elect to issue MCCs in lieu of Mortgage credit certificate. A mortgage credit MCC program elected for the nonissued bond
qualified mortgage bonds. See Temporary certificate is a certificate issued under a “qualified amount shown in Part I.
Regulations section 1.25-4T(c)(2) for more details. mortgage credit certificate program” by the state or Line 10. If the amount on line 9 exceeds 25% of the
political subdivision having the authority to issue nonissued bond amount shown in Part I, see section
Future Developments qualified mortgage bonds to provide financing for 25(f) and Temporary Regulations section 1.25-5T(d)
For the latest information about developments the acquisition, qualified rehabilitation, or qualified for the appropriate calculation to reduce the
related to Form 8330 and its instructions, such as home improvement of a taxpayer’s principal following year’s bond volume cap under section
legislation enacted after they were published, go to residence. For more information, see section 25(c)(1). 146(d).
www.irs.gov/form8330. Qualified mortgage credit certificate program. A
qualified mortgage credit certificate program is a Part III. Revocation of Qualified
Purpose of Form program established for any calendar year by a Mortgage Credit Certificates
Form 8330 is used by issuers (states and political state or political subdivision that is authorized to
subdivisions) of MCCs to provide the IRS with issue qualified mortgage bonds under section 143 Identify each holder of a qualified MCC that was
information required by section 25 and Temporary (and for which there has been an appropriate revoked during the calendar quarter. For more
Regulations section 1.25-8T(b). allocation of state volume cap for that calendar year information, see Temporary Regulations section
under section 146), but elected instead to issue 1.25-3T(m).
Who Must File mortgage credit certificates. (See section 25(c)(2) for
additional requirements.) Signature
Each issuer that elected to issue MCCs must file Aggregate amount. The aggregate amount (the Form 8330 must be signed by an authorized
Form 8330 for each qualified mortgage credit certified indebtedness times the certificate credit representative of the issuer.
certificate program. rate for each MCC, totaled for all mortgage credit
When To File certificates issued under a single MCC program), Paid Preparer Use Only
may not exceed 25% of the nonissued bond amount
File Form 8330 on a quarterly basis beginning with for which the election not to issue bonds was made. Anyone who prepares the return but does not
the quarter in which the election was made. See section 25(d)(2). charge the organization should not sign the return.
Certain others who prepare the return should not
The return for each MCC program is due as Certified indebtedness amount. The certified sign. For example, a regular, full-time employee of
follows: indebtedness amount is the amount of indebtedness the issuer, such as a clerk, secretary, etc., should
For the quarter Form 8330 specified in the MCC and incurred by a taxpayer: not sign.
ending: is due by: a. To acquire his or her principal residence, Generally, anyone who is paid to prepare a return
March 31 . . . . . . . . . April 30 b. To make qualified home improvements on that must sign it and fill in the other blanks in the Paid
June 30 . . . . . . . . . July 31 residence, or Preparer Use Only area of the return. A paid preparer
cannot use a social security number in the paid Paid
September 30 . . . . . . . October 31 c. To make a qualified rehabilitation of that Preparer Use Only box. The paid preparer must use
residence. a preparer tax identification number (PTIN). If the
December 31 . . . . . . . January 31 Certificate credit rate. The certificate credit rate is paid preparer is self-employed, the preparer should
The IRS may grant an extension of time to file the rate specified by the issuer on the MCC. enter his or her address in the box. The paid
Form 8330 if there is reasonable cause for not filing However, the rate cannot be less than 10% nor preparer must:
on time. more than 50%. For other limitations, see • Sign the return in the space provided for the
Last Form 8330 for a program. In the quarter in Temporary Regulations section 1.25-2T(b). preparer’s signature,
which the last qualified MCC that may be issued • Enter the preparer information, and
under a program is in fact issued, the issuer should Specific Instructions
check the box marked “Yes” in Part I relating to a • Give a copy of the return to the issuer.
final return for this MCC program. Thereafter, the Part I. Reporting Authority Paperwork Reduction Act Notice. We ask for the
issuer is not required to file any subsequent reports information on this form to carry out the Internal
with respect to that MCC program. See Qualified Election date. Enter the date the issuer elected to
mortgage credit certificate program in the definitions issue MCCs in lieu of qualified mortgage bonds. Revenue laws of the United States. You are required
below. Nonissued bond amount. Enter the total amount of to give us the information. We need it to ensure that
Reissued MCCs. Do not report a reissued MCC on qualified mortgage bonds (as defined in section you are complying with these laws.
Form 8330. A reissued MCC is considered to be a 143(a)(1), and the related regulations) that the issuer You are not required to provide the information
continuation of the original MCC. It is reported by has authority to issue but elected instead to convert requested on a form that is subject to the Paperwork
the lender of the replacement loan on Form 8329, into authority to issue MCCs. The amount of Reduction Act unless the form displays a valid OMB
Lender’s Information Return for Mortgage Credit qualified mortgage bonds that an issuer elected not control number. Books or records relating to a form
Certificates (MCCs). to issue may not exceed the issuer’s applicable limit or its instructions must be retained as long as their
(as determined under section 146(d)). contents may become material in the administration
Aggregate number of Forms 8330 filed per of any Internal Revenue law. Generally, tax returns
program. Certificates under an MCC program may Part II. Computation of the Total and return information are confidential, as required
be issued for indebtedness that is incurred up to the by section 6103.
close of the 2nd calendar year following the calendar Amount of Mortgage Credit
The time needed to complete and file this form
year for which the issuing authority made the Certificates will vary depending on individual circumstances.
election to issue MCCs in lieu of qualified mortgage List only the MCCs issued under the program The estimated average time is:
bonds. Thus, there may be as many as 12 elected for the nonissued bond amount shown in Recordkeeping . . . . . . 4 hr., 32 min.
consecutive quarterly reports to be filed by the Part I. File a separate Form 8330 for each separate
issuer for a particular MCC program. See section program that is still open. Learning about the law
25(e)(3)(B). or the form . . . . . . . 1 hr., 23 min.
Multiple Forms 8330 filed for a quarter. More than Column (a). Enter the certified indebtedness
one Form 8330 may be filed for a particular quarter amount for each MCC issued under the qualified Preparing and sending
for an issuer if the issuer had more than one MCC MCC program. the form to the IRS . . . . . 1 hr., 31 min.
program in operation during a calendar quarter. This Column (b). Enter the certificate credit rate If you have comments concerning the accuracy of
may occur where more than one election was made associated with each MCC entered in column (a). these time estimates or suggestions for making this
form simpler, we would be happy to hear from you.
during a calendar year, or where certificates still Column (c). For each certificate amount listed in You can write to the Internal Revenue Service, Tax
remain to be issued under one MCC program, after column (a), multiply by the certificate credit rate Products Coordinating Committee,
an election has been made creating another associated with that certificate (column (b)) and SE:W:CAR:MP:T:M:S, 1111 Constitution Ave. NW,
program. enter the result in column (c). IR-6526, Washington, DC 20224. Do not send the
Where To File If additional space is needed, attach a separate tax form to this address. Instead, see Where To File
statement in the same format as lines 1 through 6 of on this page.
File Form 8330 with the Department of the Treasury, Part II of this Form 8330. Include the total amount of
Internal Revenue Service Center, Ogden, UT 84201. the MCCs listed on the separate statements only on
line 7 of the Form 8330. You may use an unsigned
Penalty copy of a Form 8330 as the separate statement.
Any person who is required to file Form 8330 and
who does not file that return by the due date or does
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