Arbitrage Rebate and Yield Restriction

We do more than just complete arbitrage rebate and yield restriction calculations. Our procedures include reviewing the operation of the funds, monitoring temporary periods, and projecting future rebate liabilities. We ensure filing requirements are met for each bond and track all IRS deadlines to guarantee timely report completion. In addition, we always contact issuers to discuss our reports, recommendations, and the action plan for every bond.

Verification Reports

Our service consists of verification of the mathematical accuracy of certain computations relating to the bonds contained in schedules provided to us by the financial advisor or underwriter. Our report verifies the cash flow sufficiency of the escrow account and that the applicable yield restrictions have been met.

Schedule K (IRS Form 990)

The Schedule K, Supplemental Information on Tax Exempt Bonds, must be completed for outstanding bonds issued since 2003 by 501(c)(3) organizations, as part of the annual IRS Form 990. The required information includes a bond issue summary, use of proceeds, private business use, arbitrage, procedures to undertake corrective action, and supplemental information. We assist issuers in the preparation of this extremely detailed and technical form.

Other Services

  • Response to IRS Examinations
  • Debt Service Coverage Reports
  • Analysis of Spending Exceptions