Interest Payments
 
(01/01/22 - 12/31/22)
Interest payments can be earned on capital investments such as loans, stocks, bonds, savings accounts, checking accounts or cryptocurrency(g) accounts.
 
All interest payments must be verified.
 
For NA, the following apply:
 
Interest payments deposited are countable as unearned income.
Key NA interest payments using the IR ND Unearned Income Code on UNIC in the INC TYP field.
 
For CA, the following apply:
 
Interest payments left on deposit or converted to additional securities are not countable as unearned income.
Key the IR PY Unearned Income Code on UNIC in the INC TYP field.
Interest payments made directly to the participant as a share of profit are countable as unearned income.
Key CA interest payments using the IR ND Unearned Income Code on UNIC in the INC TYP field.
 
Prorate interest payments over the period it is intended to cover. (See Example Budgeting Interest Income)