Form 8830 Issuer's Quarterly Information Return for Mortgage Credi

Form

8330

Issuer’s Quarterly Information Return
for Mortgage Credit Certificates (MCCs)

(Rev. January 2009)
©

Department of the Treasury
Internal Revenue Service

Calendar quarter ending:

Part I

OMB No. 1545-0922

For Privacy Act and Paperwork Reduction Act Notice, see back of form.

March

June

September

December

Year

©

Reporting Authority
Employer identification number

Issuer’s name

Issuer’s address (number and street or P.O. box no., if mail is not delivered to street address)

Room/suite

Election date

Nonissued bond amount

City, town, or post office, state, and ZIP code

Is this the final return to be filed for this MCC program?

Yes

No

Computation of the Total Amount of Mortgage Credit Certificates

Part II

(a)
Certified Indebtedness Amount of
Mortgage Credit Certificates

(c)
Amount of Mortgage Credit Certificates
Issued (column (a) 3 column (b))

(b)
Certificate Credit Rate

1
2
3
4
5
6
7
8
9
10

Total amount of MCCs issued during the current calendar quarter (add lines 1 through 6)
Total amount of MCCs issued for all prior quarters for the MCC program related to
the nonissued bond amount in Part I
Aggregate amount of MCCs issued for this MCC program (add lines 7 and 8)
Does line 9 exceed 25% of the nonissued bond amount in Part I? (If “Yes,” see instructions.)

Part III

Paid
Preparer’s
Use Only

No

Revocation of Qualified Mortgage Credit Certificates
Name

Sign
Here

Yes

Address

Social Security Number

Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge
and belief, they are true, correct, and complete. Declaration of preparer (other than representative of issuer) is based on all information of which preparer
has any knowledge.

©

Signature of authorized representative of issuer

Preparer’s
signature

©

Firm’s name (or yours
if self-employed) and
address

©

Date
Date

©

Title
Check if
self-employed

Preparer’s SSN or PTIN
©

EIN

©

ZIP code
Cat. No. 13905M

©

Form

8330

(Rev. 1-2009)

Form 8330 (Rev. 1-2009)

General Instructions
Section references are to the Internal Revenue
Code unless otherwise noted.
Section 25 permits issuers that have authority
to issue qualified mortgage bonds (as defined in
section 143) to elect to issue MCCs in lieu of
qualified mortgage bonds. See Temporary
Regulations section 1.25-4T(c)(2) for more details.

Purpose of Form
Form 8330 is used by issuers (states and
political subdivisions) of MCCs to provide the
IRS with information required by section 25 and
Temporary Regulations section 1.25-8T(b).

Who Must File
Each issuer that elected to issue MCCs must file
Form 8330 for each qualified mortgage credit
certificate program.

When To File
File Form 8330 on a quarterly basis beginning
with the quarter in which the election was made.
The return for each MCC program is due as
follows:
For the quarter
Form 8330
ending:
is due by:
March 31
April 30
June 30
July 31
September 30
October 31
December 31
January 31
The IRS may grant an extension of time to file
Form 8330 if there is reasonable cause for not
filing on time.
Last Form 8330 for a program. In the quarter in
which the last qualified MCC that may be issued
under a program is in fact issued, the issuer
should check the box marked “Yes” in Part I
relating to a final return for this MCC program.
Thereafter, the issuer is not required to file any
subsequent reports with respect to that MCC
program. See Qualified mortgage credit
certificate program in the definitions below.
Reissued MCCs. Do not report a reissued MCC
on Form 8330. A reissued MCC is considered to
be a continuation of the original MCC. It is
reported by the lender of the replacement loan
on Form 8329, Lender’s Information Return for
Mortgage Credit Certificates (MCCs).
Aggregate number of Forms 8330 filed per
program. Certificates under an MCC program
may be issued for indebtedness that is incurred
up to the close of the 2nd calendar year
following the calendar year for which the issuing
authority made the election to issue MCCs in lieu
of qualified mortgage bonds. Thus, there may be
as many as 12 consecutive quarterly reports to
be filed by the issuer for a particular MCC
program. See section 25(e)(3)(B).
Multiple Forms 8330 filed for a quarter. More
than one Form 8330 may be filed for a particular
quarter for an issuer if the issuer had more than
one MCC program in operation during a
calendar quarter. This may occur where more
than one election was made during a calendar
year, or where certificates still remain to be
issued under one MCC program, after an
election has been made creating another
program.

Where To File
File Form 8330 with the Department of the
Treasury, Internal Revenue Service Center,
Ogden, UT 84201.

Penalty
Any person who is required to file Form 8330
and who does not file that return by the due
date or does not include all the MCCs issued on

Page

a timely filed return is subject to a penalty. The
penalty is $200 for each MCC required to be
reported on Form 8330. The maximum penalty is
$2,000.

Definitions
Mortgage credit certificate. A mortgage credit
certificate is a certificate issued under a
“qualified mortgage credit certificate program”
by the state or political subdivision having the
authority to issue qualified mortgage bonds to
provide financing for the acquisition, qualified
rehabilitation, or qualified home improvement of
a taxpayer’s principal residence. For more
information, see section 25(c)(1).
Qualified mortgage credit certificate program.
A qualified mortgage credit certificate program is
a program established for any calendar year by a
state or political subdivision that is authorized to
issue qualified mortgage bonds under section 143
(and for which there has been an appropriate
allocation of state volume cap for that calendar
year under section 146), but elected instead to
issue mortgage credit certificates. (See section
25(c)(2) for additional requirements.)
Aggregate amount. The aggregate amount
(the certified indebtedness times the certificate
credit rate for each MCC, totaled for all mortgage
credit certificates issued under a single MCC
program), may not exceed 25% of the nonissued
bond amount for which the election not to issue
bonds was made. See section 25(d)(2).
Certified indebtedness amount. The certified
indebtedness amount is the amount of
indebtedness specified in the MCC and incurred
by a taxpayer:
a. To acquire his or her principal residence,
b. To make qualified home improvements on
that residence, or
c. To make a qualified rehabilitation of that
residence.
Certificate credit rate. The certificate credit rate
is the rate specified by the issuer on the MCC.
However, the rate cannot be less than 10% nor
more than 50%. For other limitations, see
Temporary Regulations section 1.25-2T(b).

Specific Instructions
Part I. Reporting Authority
Election date. Enter the date the issuer elected
to issue MCCs in lieu of qualified mortgage
bonds.
Nonissued bond amount. Enter the total amount
of qualified mortgage bonds (as defined in section
143(a)(1), and the related regulations) that the
issuer has authority to issue but elected instead
to convert into authority to issue MCCs. The
amount of qualified mortgage bonds that an
issuer elected not to issue may not exceed the
issuer’s applicable limit (as determined under
section 146(d)).

Part II. Computation of the Total
Amount of Mortgage Credit
Certificates
List only the MCCs issued under the program
elected for the nonissued bond amount shown in
Part I. File a separate Form 8330 for each
separate program that is still open.
Column (a). Enter the certified indebtedness
amount for each MCC issued under the qualified
MCC program.
Column (b). Enter the certificate credit rate
associated with each MCC entered in
column (a).
Column (c). For each certificate amount listed in
column (a), multiply by the certificate credit rate
associated with that certificate (column (b)) and
enter the result in column (c).

2

If additional space is needed, attach a separate
sheet in the same format as lines 1 through 6 of
Part II of this Form 8330. Include the total amount
of the MCCs listed on the separate sheet(s) only
on line 7 of the Form 8330. You may use an
unsigned copy of a Form 8330 as the separate
sheet.
Line 8. Include the total amount of MCCs issued
for all prior quarters under the MCC program
elected for the nonissued bond amount shown in
Part I, whether or not issued during the current
calendar year.
Line 9. Enter the aggregate, as of the end of the
quarter, of amounts for all certificates issued for
the MCC program elected for the nonissued bond
amount shown in Part I.
Line 10. If the amount on line 9 exceeds 25% of
the nonissued bond amount shown in Part I, see
section 25(f) and Temporary Regulations section
1.25-5T(d) for the appropriate calculation to
reduce the following year’s bond volume cap
under section 146(d).

Part III. Revocation of Qualified
Mortgage Credit Certificates
Identify each holder of a qualified MCC that was
revoked during the calendar quarter. For more
information, see Temporary Regulations section
1.25-3T(m).

Signature
Form 8330 must be signed by an authorized
representative of the issuer.
Leave the paid preparer’s space blank if the
return was prepared by a regular employee of
the issuer. Otherwise, anyone who is paid to
prepare the return must sign it in the Paid
Preparer’s Use Only area.
The paid preparer must complete the required
preparer information and:
● Sign the return, by hand, in the space
provided for the preparer’s signature (signature
stamps and labels are not acceptable).
● Give a copy of the return to the issuer.
Privacy Act and Paperwork Reduction Act
Notice. We ask for the information on this form
to carry out the Internal Revenue laws of the
United States. You are required to give us the
information. We need it to ensure that you are
complying with these laws. Section 6109
requires return preparers to provide their
identifying numbers on the return.
You are not required to provide the
information requested on a form that is subject
to the Paperwork Reduction Act unless the form
displays a valid OMB control number. Books or
records relating to a form or its instructions must
be retained as long as their contents may
become material in the administration of any
Internal Revenue law. Generally, tax returns and
return information are confidential, as required
by section 6103.
The time needed to complete and file this form
will vary depending on individual circumstances.
The estimated average time is:
Recordkeeping
4 hr., 32 min.
Learning about the law
or the form
1 hr., 23 min.
Preparing and sending
the form to the IRS
1 hr., 31 min.
If you have comments concerning the
accuracy of these time estimates or suggestions
for making this form simpler, we would be happy
to hear from you. You can write to the Internal
Revenue Service, Tax Products Coordinating
Committee, SE:W:CAR:MP:T:T:SP, 1111
Constitution Ave. NW, IR-6526, Washington, DC
20224. Do not send the tax form to this address.
Instead, see Where To File on this page.