Perfect the Entity for Processing; e.g., EIN, name control and/or address.

Make all edit markings and Entity Control action trails in orange pen or pencil.

Make correction to the name and EIN directly on the Form. Circle out any incorrect information. In addition, stamp and annotate actions taken in the left margin of the return.

Always utilize CC INOLE on an EIN before taking any action.

Perfect the Issuer's Name Control on the returns.

The Name Control consists of four alpha and/or numeric characters, which are generally derived from the first name line. Underline these characters and continue processing.

IMPORTANT: NO CHANGES of any kind will be made to entity area data on the Master File.

Perfection of the address is not necessary unless the mailing address (street or P.O. Box) cannot be identified or when a Form 8822 is received.

Normally, addresses will not be updated (TC 016) from bond forms.

If there is a P.O. Box and a street address, use the street address.

Compare name control, EIN, address, city, state and zip code information on IDRS.

Issuer's ZIP Code could be 5, 9, or 12 digits.

Returns with addresses in the following American possessions can be input.

The EIN consists of nine digits and must be legible. The first two digits identify the district of application, based on the organization's location address.

If the EIN is illegible and can be determined from attachments, circle out the incorrect entry and edit the correct EIN below or to the left of the circled entry.

If the EIN is illegible and the EIN can not be determined from the attachments:

If the Issuer indicates "pending " or "applied for" on the Tax-Exempt Bond in the EIN area, research for an EIN using CC NAMEE and/or NAMEB. Use route method if not within service center jurisdiction. If no EIN is found, assign an EIN following the procedures on page.

When an EIN has dropped to the retention register or a record is not found while researching, reestablish the EIN on the Master File by inputting TC 000 using CC ENREQ or BNCHG.

When establishing a new account with TC 000, do not use a SSN.

If an EIN is input with a TC 000 using CC ESIGN or BNCHG, the system will analyze the EIN input. If the EIN is greater than the ERAS EIN assignment range, a message will be placed on the screen with an asterisk next to the EIN.

If the EIN is not within Assignment Range, research for another EIN for the Issuer. If another EIN is not located, assign an EIN following the procedures in (3) above.

It is perfectly legal for two entities to join together and issue one bond. In this instance, you may see two names in the Issuer's name line, and two EINs on the form.

If multiple EINs are present, research to determine:

Correspondence received should be processed per the following instructions.

If the correspondence reveals that the Issuer should file a return, perform all necessary research to determine if an EIN was previously assigned.

If blank forms with attachments are received, research to determine an EIN.

If only correspondence is received, research to find an EIN.

If the Issuer is asking for a copy of their return, edit the EIN if necessary and route the request to the EO Photocopy Unit.

If EIN is not provided follow steps above.

If correspondence reveals a Mortgage Credit Certificate (MCC), Notice of Defeasance, or Student Loan Bond was previously submitted using the wrong EIN, research IDRS using the incorrect EIN on CC ENMOD to verify a fact of filing was previously posted. If a TC 971, Action Code 344, 345, or 314 are present, a reversal will need to be input.

To reverse an incorrect fact of filing posting, the following will need to be input on CC ENMOD:

The following format may be referred to when completing the reversal:

Input the following to the FRM77 screen:

Unpostables will be received or reassigned from the Unpostable function when research has not located another EIN for the name shown on the unpostable document.

Perform research on IDRS using CC NAMEB, NAMEE, and INOLE.

If unable to locate the EIN, contact the Issuer's representative by telephone. If unable to contact, assign an EIN.

If the entity information of the document does not match Master File records for the EIN, contact the Issuer's representative by telephone. If unable to contact, assign an EIN.

If you locate the EIN on NAMEB or NAMEE, use BNCHG with TC 000 to establish the account on the Master File. Initiate a 147C/3910C letter to the Issuer.

If a better EIN is found using CC INOLE, "6" code the unpostable.

If command code NAMEB shows the account as "P" or CC ENMOD shows a dummy account, resulting from a reject or unpostable action; use BNCHG with TC 000 to establish the account on Master File.

For additional information, see IRM 3.12.278, Exempt Organization Unpostable Resolution .

Prior to March 2001, when an Arbitrage payment was received, the remittance was journalized into the 6400 "Miscellaneous Revenue Collections" account. (Treasury Account Symbols 20–3220) The package included:

The Deposit Unit kept the yellow copy of the deposit ticket.

Once journaled, the package was forwarded to the Bank Adjustment/Dishonored Check unit to have the return & payment controlled onto the RICS system. Any returns and payments processed prior to March 2001 should be located on the RICS system.

Beginning March 2001, Forms 8038-T and their remittance began posting to Master File.

When Remittance is received with Form 8038-T, Receipt and Control will prepare a Form 3244 and assign a Report Number (if not present) within the range of 700 - 799 for each return. The prepared Form 3244 is then processed through Manual Exception Processing to Master File as follows:

A Deposit Ticket is prepared with Treasury Account Symbols 20–3220.