Form 1097-BTC Bond Tax Credit

IRS - OMB REVIEW REQUEST FORM
Request for OMB review of currently approved document:
Date:

10/13/2011

Name: Janice

Y. Martin

Office Symbols: SE:W:CAR:MP:T:B:I
Phone Number:

202-283-2640

Summary of Changes
2012 Form 1097-BTC
We removed boxes 1a-5a for reporting tax credit distributions and added new boxes: Box 1 for reporting the total
aggregate amount of credits distributed, Box 2 for reporting a code to identify the unique identification number, Box 3
for reporting the unique identification number, Box 4 is blank, and Boxes 5b-5l for reporting the credits distributed each
month. The form changes from quarterly to monthly reporting of the credits distributed.
The instructions have not been completed. We are awaiting guidance from Treasury, Chief Counsel and the
Information Reporting Program Advisory Committee.
This form was voluntary for 2011 but will be required beginning January 2012. The estimated number of filers is
101,630,369. Document 6961 (2009 Update), Calendar Year Projections of Information and Withholding Documents
for the United States and IRS Campuses 2009-2017.
Attached is a marked up copy of the form. We will provide a clean copy as soon as it is available. Curt wants this
form released ASAP.

Impact on Approved Collection
Public
Law No.

Regulation
No.

Other
Code
References

SAMPLE:
PL 109-567

REG-345675-08

RP 2009-134

+/- 5

Change In IRS Form
& Instructions
No. of Filers
Words

+/- 20,000

+/- 500

Attachments

+/- 1

*Please insert how this new (PL, REG, or other), document will affect the currently approved collection.

delete
5050

VOID

Version A, Cycle 12
Dimensions: 7.3" x 5.5"

CORRECTED

FORM 1097-BTC ISSUER'S name, street address, city, state, and ZIP code,
and telephone no.

1 Total aggregate
$
2 Code

OMB No. 1545-2197

2012

2011

Bond
Tax
Credit

Form 1097-BTC

3 Unique ID number
FORM 1097-BTC ISSUER'S federal
identification number

RECIPIENT'S federal identification
number

RECIPIENT'S name

Street address (including apt. no.)

lightly shade area
in the 2 boxes

4
5a January
$

5b February
$

5c March
$

5d April
$

5e May
$

Form 1097-BTC issuer is (check one):

2012

Issuer of bond or its agent filing initial 2011
Form 1097-BTC for credit being reported
An entity or a person that received a 2011 Form 1097-BTC
for credit being reported
Form 1097-BTC

Cat. No. 54293T

5i September
$
5k November
$

For
Internal Revenue
Service Center
File with Form 1096.

5f June
$

City, state, and ZIP code

5g July
$

Copy A

5h August
$
5j October
$

For Privacy Act
and Paperwork
Reduction Act
Notice, see the
2011 General
Instructions for
Certain Information
Returns.

5l December
$
Department of the Treasury - Internal Revenue Service

Do Not Cut or Separate Forms on This Page — Do Not Cut or Separate Forms on This Page

Version A, Cycle 12
Dimensions: 7.3" x 5.5"

CORRECTED (if checked)
FORM 1097-BTC ISSUER'S name, street address, city, state, and ZIP code,
and telephone no.

OMB No. 1545-2197

1 Total aggregate
$

2011

2 Code

Form 1097-BTC

3 Unique ID number

FORM 1097-BTC ISSUER'S federal
identification number

RECIPIENT'S federal identification
number

5c March
$

Street address (including apt. no.)

5e May
$
City, state, and ZIP code

Form 1097-BTC issuer is (check one):

5g July
$

2012

Issuer of bond or its agent filing initial 2011
Form 1097-BTC for credit being reported
An entity or a person that received a 2011 Form 1097-BTC
for credit being reported
Form 1097-BTC

(keep for your records)

Bond
Tax
Credit

lightly shade area in the 2
boxes

4
5a January
$

RECIPIENT'S name

2012

5i September
$
5k November
$

5b February
$
1d April
$
5f June
$
5h August
$
5j October
$

Copy B
For Recipient

This is important tax
information and is
being furnished to the
Internal Revenue
Service. If you are
required to file a return,
a negligence penalty or
other sanction may be
imposed on you if an
amount of tax credit
exceeding the amount
reported on this form is
claimed on your
income tax return.

5l December
$
Department of the Treasury - Internal Revenue Service

Version A, Cycle 12
Dimensions: 7.3" x 5.5"

Instructions for Recipient

Box 3.

Issuers of certain tax credit bonds (or their agents) and
nominees/intermediaries (such as a broker, a
partnership, a trust, an estate, a regulated investment
company, or a real estate investment trust) must report
to you quarterly and file with the IRS annually a separate
Form 1097-BTC for each tax credit distributed to you.
The checked box shows if the filer or its agent is the
original filer of this form, or is an entity or a person that
received this form.
Boxes 1a–5a. Shows the amount of the credit
distributed to you with respect to this allowance date.

Box 1. Shows the aggregate total of
credits distributed.
Box 2. Indicates if the unique identification
number is your account number, the CUSIP
number of the bond, or another series of
numbers (see instructions).

You may be entitled to claim a credit against your
income tax liabilities, subject to certain limitations under
section 54A(c). For more information, see Form 8912,
Credit to Holders of Tax Credit Bonds. credits
Boxes 1b-5b. Shows the unique identification number
assigned to the credit you received with respect to this
credit allowance date. This information will help the IRS
track distribution of tax credits from tax credit bonds.
Boxes 5a-5l.

VOID

Version A, Cycle 12
Dimensions: 7.3" x 5.5"

CORRECTED

FORM 1097-BTC ISSUER'S name, street address, city, state, and ZIP code,
and telephone no.

1 Total aggregate
$

2 Code

OMB No. 1545-2197

2012

2011

Bond
Tax
Credit

Form 1097-BTC

3 Unique ID number
FORM 1097-BTC ISSUER'S federal
identification number

RECIPIENT'S federal identification
number

4
5a January
$

RECIPIENT'S name

5c March
$

Street address (including apt. no.)

5e May
$

City, state, and ZIP code

5g July
$
Form 1097-BTC issuer is (check one):

2012

Issuer of bond or its agent filing initial 2011
Form 1097-BTC for credit being reported
An entity or a person that received a 2011 Form 1097-BTC
for credit being reported
Form 1097-BTC

lightly shade area in
the 2 boxes

5i September
$
5k November
$

5b February
$
5d April
$
5f June
$
5h August
$

Copy C
For Payer
For Privacy Act
and Paperwork
Reduction Act
Notice, see the
2011 General
Instructions for
Certain Information
Returns.

5j October
$
5l December
$
Department of the Treasury - Internal Revenue Service

Version A, Cycle 12
Dimensions: 7.3" x 5.5"

delete

Instructions for Payer

!
▲

2013

Filing Form 1097-BTC is voluntary for 2011.

CAUTION

General and specific form instructions are provided as
separate products. The products you should use are the
General Instructions for Certain Information Returns and
the Instructions for Form 1097-BTC. A chart in the
general instructions gives a quick guide to which form
must be filed to report a particular payment. To order
these instructions and additional forms, visit IRS.gov or
call 1-800-TAX-FORM (1-800-829-3676).

!
▲
CAUTION

Because paper forms are scanned during
processing, you cannot file with the IRS Forms
1096, 1097, 1098, 1099, 3921, 3922, or 5498
that you print from the IRS website.

April 1, 2013
File Copy A of this form with the IRS by February 28,
2012. If you file electronically, the due date is April 2,
2012. To file electronically, you must have software that
generates a file according to the specifications in Pub.
1220, Specifications for Filing Forms 1097, 1098, 1099,
3921, 3922, 5498, 8935, and W-2G Electronically. The
IRS does not provide a fill-in form option.
Need help? If you have questions about reporting on
Form 1097-BTC, call the information reporting customer
service site toll free at 1-866-455-7438 or 304-263-8700
(not toll free). For TTY/TDD equipment, call
304-579-4827 (not toll free). The hours of operation are
Monday through Friday from 8:30 a.m. to 4:30 p.m.,
Eastern time.

Due dates. Furnish Copy B of this form to the recipient
quarterly and separately for each credit amount
allowable to the recipient on or before the 15th day of
the second calendar month after the close of the
calendar quarter in which the credit is issued.
by January 31,
2013

DRAFT AS OF
September 28, 2011