Form 8281

Form 8281

An information return that the issuer of an original issue discount bond files with the IRS. The form reports information like the issue date, the maturity date, and the interest rate.
References in periodicals archive ?
However, in many circumstances a debt instrument issued in a private placement is registered with the SEC after the issue date and, therefore, no Form 8281 reporting was required, and the relevant OID information would not appear in Publication 1212.
The issuer of a publicly offered debt instrument that has OID must file Form 8281 within 30 days of issuance, and issuers who willfully report late or not at all are subject to a penalty of 1 percent of the issue price, up to a maximum of $50,000.
Therefore, it si important that issuers of publicly offered debt instruments, that have OID, properly file Form 8281.
In the absence of a declarative, substantiated statement that the IRS "begins intensive processing and use of th[e] data" on, for example, a Form 8281 (Information Return for Publicly Offered Original Issue Discount Instruments) before August 1, there is no basis -- let alone authority -- for disregarding the second tier of the penalty.