Series 51: Failure To Make Rebate Payments

Taken from our Series 51 Online Guide

Failure to Make Rebate Payments

If an issuer willfully fails to comply with the arbitrage rebate requirements, the interest on the bonds may become taxable, retroactive to their date of issuance. If an issuer unintentionally failed to make the rebate payments, it can pay the amount due plus a penal

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