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23.5. How to Add a "Credit" to a Loan to Reverse an Erroneously Reported Payment

To accommodate this scenario you just need to enter a negative payment amount on a loan that has been closed out. Then the loan will re-appear on the FEC Form 3 report, and the "Amount Paid" and "Outstanding Balance" totals will be adjusted to accommodate the negative loan payment.

After you have done this data entry the FEC recommends you file a Form 99 as well explaining what happened and why you are reporting in this fashion. This is a very rare scenario and your analyst will want to know exactly what happened on the report.

If you have any questions about this please give your analyst a call.