---
kind: "section"
citation: "30 C.F.R. § 1218.54"
title: "30"
number: "1218.54"
heading: "Late payments."
url: "https://uscodex.org/cfr/30/1218.54"
---

# §1218.54. Late payments.

- (a) An interest charge shall be assessed on unpaid and underpaid amounts from the date the amounts are due.
- (b) The interest charge on late payments shall be at the underpayment rate established by the Internal Revenue Code, [26 U.S.C. 6621(a)(2)](/usc/26/6621.md?p=a-2) (Supp. 1987).
- (c) Interest will be charged only on the amount of the payment not received. Interest will be charged only for the number of days the payment is late.
- (d) A portion of the interest collected will be paid to a State where the State shares in mineral revenues from Federal leases.
- (e) An overpayment on a lease or leases may be offset against an underpayment on a different lease or leases to determine a net underpayment on which interest is due pursuant to conditions specified in [§ 1218.42](/cfr/30/1218.42.md).

## Notes

### Amendments

[49 FR 37346, Sept. 21, 1984, as amended at 55 FR 37230, Sept. 10, 1990; 57 FR 62206, Dec. 30, 1992]

### Source

Source: 49 FR 37346, Sept. 21, 1984, unless otherwise noted.

### Authority

Authority: 5 U.S.C. 301 et seq.; 25 U.S.C. 396 et seq., 396a et seq., 2101 et seq.; 30 U.S.C. 181 et seq., 351 et seq., 1001 et seq., 1701 et seq.; 31 U.S.C. 3335, 3711, 3716-18, 3720A, 9701; 43 U.S.C. 1301 et seq., 1331 et seq., and 1801 et seq.

### Source

Source: 48 FR 35641, Aug. 5, 1983, unless otherwise noted. Redesignated at 75 FR 61084, Oct. 4, 2010.

### Amendments

[49 FR 37346, Sept. 21, 1984, as amended at 55 FR 37230, Sept. 10, 1990; 57 FR 62206, Dec. 30, 1992]