30 CFR § 1218.54 - Late payments.

---
identifier: "/us/cfr/t30/s1218.54"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "30 CFR § 1218.54 - Late payments."
title_number: 30
title_name: "Mineral Resources"
section_number: "1218.54"
section_name: "Late payments."
chapter_name: "OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR"
subchapter_number: "A"
subchapter_name: "NATURAL RESOURCES REVENUE"
part_number: "1218"
part_name: "COLLECTION OF ROYALTIES, RENTALS, BONUSES, AND OTHER MONIES DUE THE FEDERAL GOVERNMENT"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301  25 U.S.C. 396  396a  2101  30 U.S.C. 181  351  1001  1701  31 U.S.C. 3335, 3711, 3716-18, 3720A, 9701; 43 U.S.C. 1301  1331  and 1801"
regulatory_source: "48 FR 35641, Aug. 5, 1983, unless otherwise noted. Redesignated at 75 FR 61084, Oct. 4, 2010."
cfr_part: "1218"
---


# 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) (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.

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