New IRS Form 4506-C

The Internal Revenue Service (IRS) is replacing the current 4506-T with the 4506-C Income Verification Express Service (IVES) Request for Transcript of Tax Return form to better protect taxpayer’s personal information

Beginning March 1, 2021 the IRS will only accept the new 4506-C form dated September 2020 for transcript requests.

4506-C Form

The new 4506-C form requires Line 5a be completed when transcripts are delivered to a third party.  The information entered on Line 5a allows the transcripts to be delivered to a secure mailbox.

The Homebridge IVES participant information must be included on Line 5a, in its entirety, as shown below or the transcript request cannot be processed.

The new 4506-C form, with Line 5a prefilled with the required information, has been posted on the Homebridge website Forms page under General Forms.  If personal and business returns are used for qualifying a separate, fully completed and executed 4506-C form is required

When required by loan program, the initial 4506-C must be included with the loan submission. Best practices for Brokered and NDC/EB submissions, to avoid processing delays in the event Homebridge requires the processed transcript, are detailed below.

Brokered Transactions: Submitting the Signed/Completed 4506-C

  • Homebridge Disclosed Transactions: 4506-C not required (currently not available for USDA or renovation transactions)
  • Broker Disclosed Transactions: Two Options Available
    1. Provide the completed and signed 4506-C with Homebridge specific IVES information on Line 5a at time of loan submission, OR
    2. During the loan process, provide Homebridge the signed copy from Homebridge’s initial lender disclosures (preferred method)

NDC/EB Transactions: Submitting the Signed/Completed 4506-C

NDC/EB transactions require a signed/completed 4506-C at loan submission on applicable transactions.

  • The submitted 4506-C must reflect the Homebridge specific IVES information on Line 5a

4506-C Quick Reference Guides

Homebridge has created a 4506-C Quick Reference Guide Individual Taxpayer and a 4506-C Quick Reference Guide Business Returns to provide guidance for completing the 4506-C.  These QRGs can be found under “Reference Guides – General