|TABLE OF CONTENTS|
Except as provided in 45 CFR 75.302(b)(8), any NIH recipient subject to the requirements of 45 CFR 75 that receives advance payments must maintain those advances in an interest-bearing account.
Recipients are expected to promptly return any funds not spent within three business days. As provided in 45 CFR 75.305(b)(9) subject to the requirements of 45 CFR 75 and to the extent required by law, interest earned on Federal advance payments deposited in interest-bearing accounts must be remitted annually to the Department of Health and Human Services, Payment Management System, Rockville, MD 20852. Interest amounts up to $500 per year may be retained by the non-Federal entity for administrative expense.