IRS Form 8329 "Lender's Information Return for Mortgage Credit Certificates (Mccs)"

What Is IRS Form 8329?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on October 1, 2012. As of today, no separate filing guidelines for the form are provided by the IRS.

Form Details:

  • A 2-page form available for download in PDF;
  • Actual and valid for filing 2020 taxes;
  • Additional instructions and information can be found on page 2 of the document;
  • Editable, printable, and free;

Download a fillable version of IRS Form 8329 through the link below or browse more documents in our library of IRS Forms.

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Download IRS Form 8329 "Lender's Information Return for Mortgage Credit Certificates (Mccs)"

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8329
Lender's Information Return for
Form
Mortgage Credit Certificates (MCCs)
OMB No. 1545-0922
(Rev. October 2012)
For calendar year ending
Department of the Treasury
Information about Form 8329 and its instructions is at www.irs.gov/form8329.
Internal Revenue Service
Part I
Reporting Authority
Employer identification number
Lender’s name
Lender’s address (number, street, or P.O. box no., if mail is not delivered to street address)
Room/suite
City, town, or post office, state, and ZIP code
Part II
Issuing Authority
Employer identification number
Issuer’s name
Issuer’s address (number, street, or P.O. box no., if mail is not delivered to street address)
Room/suite
Election date
City, town, or post office, state, and ZIP code
Nonissued bond amount
Part III
Recipients of Mortgage Credit Certificates (If more than five recipients, see instructions.)
(b)
(a)
(c)
Address
Name(s)
Social Security Number(s)
Do not use a P.O. box number.
1
2
3
4
5
Computation of the Total Amount of Mortgage Credit Certificates (Note: Match the information
Part IV
entered on each line with information entered on each corresponding line in Part III.)
(e)
(g)
(d)
(f)
Certified Indebtedness Amount
Amount of MCC Issued
Date of Issue of MCC
Certificate Credit Rate
of Each MCC Issued
(column (e) x column (f))
1
2
3
4
5
6 Total amount of MCCs issued. (See instructions.)
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Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge
and belief, it is true, correct, and complete. Declaration of preparer (other than representative of lender) is based on all information of which preparer has any
Sign
knowledge.
Here
Signature of authorized representative of lender
Date
Title
Print/Type preparer’s name
Preparer's signature
Date
PTIN
Paid
Check
if
self-employed
Preparer
Use Only
Firm’s name
Firm's EIN
Firm's address
Phone no.
8329
For Paperwork Reduction Act Notice, see instructions.
Form
(Rev. 10-2012)
Cat. No. 13902F
8329
Lender's Information Return for
Form
Mortgage Credit Certificates (MCCs)
OMB No. 1545-0922
(Rev. October 2012)
For calendar year ending
Department of the Treasury
Information about Form 8329 and its instructions is at www.irs.gov/form8329.
Internal Revenue Service
Part I
Reporting Authority
Employer identification number
Lender’s name
Lender’s address (number, street, or P.O. box no., if mail is not delivered to street address)
Room/suite
City, town, or post office, state, and ZIP code
Part II
Issuing Authority
Employer identification number
Issuer’s name
Issuer’s address (number, street, or P.O. box no., if mail is not delivered to street address)
Room/suite
Election date
City, town, or post office, state, and ZIP code
Nonissued bond amount
Part III
Recipients of Mortgage Credit Certificates (If more than five recipients, see instructions.)
(b)
(a)
(c)
Address
Name(s)
Social Security Number(s)
Do not use a P.O. box number.
1
2
3
4
5
Computation of the Total Amount of Mortgage Credit Certificates (Note: Match the information
Part IV
entered on each line with information entered on each corresponding line in Part III.)
(e)
(g)
(d)
(f)
Certified Indebtedness Amount
Amount of MCC Issued
Date of Issue of MCC
Certificate Credit Rate
of Each MCC Issued
(column (e) x column (f))
1
2
3
4
5
6 Total amount of MCCs issued. (See instructions.)
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.
.
.
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge
and belief, it is true, correct, and complete. Declaration of preparer (other than representative of lender) is based on all information of which preparer has any
Sign
knowledge.
Here
Signature of authorized representative of lender
Date
Title
Print/Type preparer’s name
Preparer's signature
Date
PTIN
Paid
Check
if
self-employed
Preparer
Use Only
Firm’s name
Firm's EIN
Firm's address
Phone no.
8329
For Paperwork Reduction Act Notice, see instructions.
Form
(Rev. 10-2012)
Cat. No. 13902F
2
Form 8329 (Rev. 10-2012)
Page
General Instructions
Additional Entries
Aggregate amount. The aggregate amount (the
certified indebtedness times the certificate credit
If the lender must report on more than 5 mortgage
rate for each MCC, totaled for all mortgage credit
Section references are to the Internal Revenue Code
credit certificates, it should report these additional
certificates issued under a single MCC program),
unless otherwise noted.
certificates on an attached statement formatted like
may not exceed 25% of the nonissued bond
Any person who makes a loan that is a “certified
Form 8329.
amount for which the election not to issue bonds
indebtedness amount” on any mortgage credit
was made. See section 25(d)(2).
Instead of formatting its own statement, the lender
certificate (MCC) must maintain books and records
may use one Form 8329 as a transmittal document
Certified indebtedness amount. The certified
of the activity and file Form 8329. (See Temporary
and use additional Forms 8329 as statements. In
indebtedness amount is the amount of indebtedness
Regulations section 1.25-8T(a).)
such a case, draw an “X” across the 5 lines of Parts
specified in the MCC and incurred by a taxpayer:
A separate Form 8329 must be filed for each
III and IV of the Form 8329 used as a transmitting
a. To acquire his or her principal residence,
issue of MCCs for which the lender made mortgage
document. Complete the remainder of this Form
loans during the calendar year. Each issue of MCCs
b. To make qualified home improvements on that
8329, making certain that all mortgage credit
corresponds to the MCC program relating to the
residence, or
certificate amounts reported in all the statements in
nonissued bond amount that was the subject of the
Part IV, column (g) are totaled for line 6 of the
c. To make a qualified rehabilitation of that
election made on the election date. Both the
transmittal document. Sign only the transmittal Form
residence.
nonissued bond amount and the election date are to
8329 and indicate in the top margin the number of
Certificate credit rate. The certificate credit rate is
be provided in Part II of this Form 8329.
Forms 8329 attached to this Form 8329.
the rate specified by the issuer on the MCC.
On the attached Forms 8329, show the lender’s
Future Developments
However, the rate cannot be less than 10% nor
name and employer identification number in Part I
more than 50%. For other limitations, see
For the latest information about developments
and enter mortgage credit certificate information on
Temporary Regulations section 1.25-2T(b).
related to Form 8329 and its instructions, such as
the 5 lines of Parts III and IV.
Specific Instructions
legislation enacted after they were published, go to
Signature
www.irs.gov/form8329.
Part I. Reporting Authority
Form 8329 must be signed by an authorized
Purpose of Form
representative of the lender.
Provide information about the mortgage lender.
Form 8329 is used by lenders of certified
Paid Preparer Use Only
indebtedness amounts to provide the IRS with
Part II. Issuing Authority
information regarding the issuance of MCCs under
Anyone who prepares the return but does not
section 25.
Provide information about the mortgage credit
charge the organization should not sign the return.
certificate issuer.
The MCC must be issued under a program that
Certain others who prepare the return should not
meets the residence requirements of section 143(c).
sign. For example, a regular, full-time employee of
Election date. Enter the date the issuing authority
Under these requirements, the residence must: (1)
the lender, such as a clerk, secretary, etc., should
elected to issue MCCs in lieu of qualified mortgage
be a single-family residence that can reasonably be
not sign.
bonds for the MCC program that included the
expected to become the principal residence of the
amounts listed in Part IV, column (e).
Generally, anyone who is paid to prepare a return
mortgagor within a reasonable time after the
must sign it and fill in the other blanks in the Paid
Nonissued bond amount. Enter the total amount of
financing is provided, and (2) be located in the
Preparer Use Only area of the return. A paid preparer
qualified mortgage bonds (as defined in section
jurisdiction of the authority issuing the certificate.
cannot use a social security number in the paid Paid
143(a)(1) and the related regulations) that the issuer
See section 25(c)(2) for additional requirements.
Preparer Use Only box. The paid preparer must use
has authority to issue but elected instead on the
a preparer tax identification number (PTIN). If the
Who Must File
election date to convert into authority to issue
paid preparer is self-employed, the preparer should
MCCs.
Any person who makes a loan that is a certified
enter his or her address in the box. The paid
Part III. Recipients of Mortgage
indebtedness amount on any MCC must file Form
preparer must:
8329.
Credit Certificates
• Sign the return in the space provided for the
preparer’s signature,
When To File
Column (a). Enter the name(s) of the MCC holder(s)
• Enter the preparer information, and
to whom the lender made certified indebtedness
File Form 8329 by January 31 following the close of
loan(s) during the calendar year. If an MCC lists
• Give a copy of the return to the lender.
the calendar year in which the lender made certified
more than one holder, enter all of the holders on
indebtedness loans.
one line.
Paperwork Reduction Act Notice. We ask for the
The IRS may grant an extension of time to file
Column (b). Enter the number and street, city, state,
information on this form to carry out the Internal
Form 8329 if there is reasonable cause for not filing
and ZIP code of the property for which the MCC
Revenue laws of the United States. You are required
on time.
was issued. Do not use a P.O. box number.
to give us the information. We need it to ensure that
Where To File
you are complying with these laws.
Column (c). Enter the social security number(s) of
the holder(s) listed on the MCC.
You are not required to provide the information
File Form 8329 with the Department of the Treasury,
requested on a form that is subject to the
Internal Revenue Service Center, Ogden, UT 84201.
Part IV. Computation of the Total
Paperwork Reduction Act unless the form displays a
Amount of Mortgage Credit
Penalty
valid OMB control number. Books or records
relating to a form or its instructions must be retained
Certificates
Any person required to file Form 8329 may be
as long as their contents may become material in
subject to a $200 penalty for each form that is not
Column (d). Enter the date the issuing authority
the administration of any Internal Revenue law.
filed by the due date. The maximum penalty is
issued the certificate for the amount included in
Generally, tax returns and return information are
$2,000.
column (e). Do not give the date the loan was made
confidential, as required by section 6103.
nor the date when any preliminary approval to issue
Definitions
The time needed to complete and file this form
an MCC was given by the issuer.
will vary depending on individual circumstances. The
Mortgage Credit Certificate. A mortgage credit
If the loan is for a reissued MCC as permitted by
estimated average time is:
certificate is a certificate issued under a “qualified
the regulations, the date of the reissued certificate
Recordkeeping .
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. 3 hr., 35 min.
mortgage credit certificate program” by the state or
should be given, preceded by the word “Reissued.”
political subdivision having the authority to issue
Learning about the
For example, “Reissued, July 25, 2008.”
qualified mortgage bonds to provide financing for
law or the form .
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1 hr., 5 min.
Column (f). Enter the certificate credit rate for each
the acquisition, qualified rehabilitation, or qualified
Preparing and sending
MCC.
home improvement of a taxpayer’s principal
the form to the IRS .
.
.
.
. 1 hr., 12 min.
Column (g). For each certificate amount listed in
residence. For more information, see section 25(c)(1).
If you have comments concerning the accuracy of
column (e), multiply by the certificate credit rate
Qualified mortgage credit certificate program. A
these time estimates or suggestions for making this
associated with that certificate shown in column (f).
qualified mortgage credit certificate program is a
form simpler, we would be happy to hear from you.
program established for any calendar year by a
Line 6. This is the aggregate amount of MCCs
You can write to the Internal Revenue Service, Tax
state or political subdivision that is authorized to
issued (Part IV, column (g)) in connection with the
Products Coordinating Committee,
issue qualified mortgage bonds under section 143
lender’s loans relating to the issuer’s MCC program
SE:W:CAR:MP:T:M:S, 1111 Constitution Ave. NW,
(and for which there has been an appropriate
for the calendar year. The total should reflect all of
IR-6526, Washington, DC 20224. Do not send the
allocation of state volume cap for that calendar
the MCCs described on the lender’s Form 8329,
form to this address. Instead, see Where To File on
year under section 146) but elected instead to
including any attachments, for the MCC program for
this page.
issue mortgage credit certificates. (See section
the calendar year.
25(c)(2) for additional requirements.)
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