Penalty Amounts Showing on Statement of Interest Earned

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We are running IL274 Statement of Interest Earned and there are penalty amounts showing up. We do not apply penalties to our investments - why are these amounts showing up?

The amounts that appear on IL274 are placeholders...nothing is being assessed. If you look at an investment in Investment Inquiry and then go to the Penalty Tab, the penalty interest accrued, penalty interest earned TTD and penalty charged fields are all 0. The Penalty interest accrued and penalty interest earned TTD are cleared during interest compounding. This is what you are seeing on the report. Also, the penalty amounts are NOT displayed on your MERGE FORMS.