As an issuer of tax-exempt bonds, or an obligated party in a tax-exempt issue, Bingham’s expertise can help you navigate the complexities of arbitrage rebate compliance.
Arbitrage is any interest or value earned over the declared yield of a tax-exempt bond issue as defined by Internal Revenue Code Section 103 and Section 148. Bingham’s experienced professionals can determine the amount, if any, that must be rebated (paid) to the Federal Government. Even if your issue does not earn arbitrage, the calculation is required at least every five years over the life of the issue.
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You have questions. Bingham has answers. We are here to help with all of your Pre-Issuance and Post-Issuance Compliance needs.
- Verification
- Yield Restriction
- Arbitrage Rebate
- Post-Issuance Compliance

Bingham’s office – located in the historic Uptown of Richmond, Virginia.
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2025 NBOA: Business Leadership for Independent Schools Annual Meeting
New York Marriot Marquis, NY
February 23-26, 2025
University of North Carolina (UNC) System Finance Conference
Asheville, NC
March 12-14, 2025
2025 Joint Southeastern & Louisiana Associations of School Business Officers’ Conference (SASBO/LASBO)
New Orleans, LA
March 24-26, 2025
Virginia Government Finance Officers Association (VGFOA) Spring Conference
Williamsburg, VA
May 7-9, 2025