A Message from Our President

“Large or small, you’ll feel like our only client.”Ray Bentley

Thank you for visiting the American Municipal Tax-Exempt Compliance (AMTEC) website. I hope you find the information within these pages helpful—and more importantly, that our site serves as the starting point for a strong relationship together … Continue Reading

“Large or small, you’ll feel like our only client.”Ray Bentley

Thank you for visiting the American Municipal Tax-Exempt Compliance (AMTEC) website. I hope you find the information within these pages helpful—and more importantly, that our site serves as the starting point for a strong relationship together … Continue Reading


About Us


American Municipal Tax-Exempt Compliance (AMTEC) is an independent, family-owned tax compliance specialty firm. We are a qualified Minority and Small Business Enterprise (MBE/SBE). 100% of our resources are pledged to arbitrage rebate and refunding verification services. Our founder began performing arbitrage rebate calculations in 1986 before establishing AMTEC in 1990—and today we remain the oldest dedicated arbitrage rebate specialty firm.

Our national client base includes:

  • State governments and agencies
  • Counties, cities and school districts
  • Conduit issuers—higher education, healthcare, housing, student loans and industrial development authorities

Why AMTEC


Tax-exempt bond compliance is complicated, but necessary. Without the right expertise, costly mistakes can occur in the calculation process, potentially leading to late filing interest and penalties, or even loss of tax-exempt status for bonds.

For decades, AMTEC has specialized in arbitrage rebate and refunding verification services for clients across the country. In fact, unlike many of our competitors, these are the only services we provide to clients—each and every day. This level of specialization—along with our proven, repeatable processes—drive efficiencies that provide significant cost savings to our clients, supported by our guaranteed fee structure. In addition, our uncommon focus means you can always feel confident that your compliance with IRS regulations will never be in doubt.





Our Services


ARBITRAGE REBATE CONSULTANT


Arbitrage refers to the excess interest income that issuers may earn through investing tax-exempt bond proceeds in higher yielding taxable securities. Section 148 of the Internal Revenue Code of 1986, referred to as the Arbitrage Regulations, permits a tax-exempt issuer to earn arbitrage only in specified circumstances, and in most cases requires any arbitrage profit to be paid to the U.S. Treasury. The IRS requires that arbitrage calculations be completed no later than five years from the date of a bond’s issuance, every five years thereafter, and upon final maturity.

Compliance with complex arbitrage rebate rules can divert the staff of tax-exempt bond issuers from important organizational responsibilities. Incorrect calculations can jeopardize the outcome of an IRS audit. By outsourcing these responsibilities to AMTEC, savings, efficiencies and confidence in an issuer’s tax compliance efforts are immediately realized. In addition, you’ll receive comprehensive and unlimited support from us in the event of an IRS audit.

Click here for an overview of the importance of taking an active approach to arbitrage rebate calculations.

REFUNDING VERIFICATION AGENT


In 2002—at the request of financial advisors and bond attorneys who had developed a high level of confidence in AMTEC’s ability to provide accurate calculations for reasonable fees—we began providing refunding verification services to our arbitrage rebate clients.

Currently, AMTEC issues hundreds of refunding verification reports annually. Our clients utilize a variety of financing tools such as fixed and variable rate debt, tax-exempt and taxable issuances, and current and advance refinancings, as well as Open Market Securities (OMS) and State and Local Government Series (SLGS) securities. Our team coordinates closely with the financial advisor, underwriter, issuer and other parties throughout the process to ensure accurate results are achieved.

As part of AMTEC’s refunding verification services, clients receive the following:

  • Verbal/written verification within two hours of receiving the final pricing schedules
  • Completion of a draft verification report within 24 hours of receiving the final pricing schedules
  • CPA certification when required

By the Numbers



Rebate Opinions Issued
0+

Total Par
$0+ Billion

Verification Reports Completed
0+

The AMTEC Advantage


  • Connector.

    Lasting client partnerships

    A successful business is measured by the quality, not the quantity, of its relationships. Our greatest satisfaction comes from maintaining long-term partnerships that result from consistently meeting—and exceeding—our clients’ expectations.

  • Connector.

    Highly competitive, guaranteed fees

    AMTEC’s guaranteed fee proposals will never change, even as the investment and accounting records process evolves over time. We do not charge hourly fees or limit the scope of services based on the difficulty of the calculation.

  • Connector.

    Dedicated, specialized resources

    100% of our resources are pledged to arbitrage rebate and refunding verification services.

  • Connector.

    Exceptional responsiveness and individualized client attention

    Whenever you need us, we’re here for you. Our overarching approach to doing business is predicated on world-class service that will make you feel like our only client.

  • Connector.

    Long-term expertise—a heritage dating to the mid-1980s

    Our founder began performing arbitrage rebate calculations in 1986 before establishing AMTEC in 1990. Today we remain the oldest dedicated arbitrage rebate specialty firm.


Free Quote


ARBITRAGE REBATE

Is this the initial rebate calculation? YesNo

REFUNDING VERIFICATION


Requires CPA sign-off? YesNo

Contact Us


The leadership of AMTEC has been in place for over fifteen years and oversees every rebate and refunding transaction service we perform.

Please contact a member of the AMTEC management team for more information about our services—and ways we can work together to ensure you meet your tax-exempt bond compliance objectives.

AMTEC

90 Avon Meadow Lane
Avon, CT 06001

Ray Bentley

Mike Scarfo

Senior Vice President
mscarfo@amteccorp.com




Resources


Educational Training

AMTEC has always believed that the more issuers understand their obligations with respect to tax-exempt compliance, the more benefit they derive from our services. Please contact us if you have an interest in learning about our training sessions in the areas of Section 148 of the Internal Revenue Code and the Arbitrage Regulations, understanding arbitrage rebate, and post-issuance tax compliance.