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Page 21 of 52 <br />(8) The non -Federal entity must maintain advance payments of Federal awards in <br />interest -bearing accounts, unless the following apply. <br />(i) The non -Federal entity receives less than $120,000 in Federal awards per year. <br />(ii) The best reasonably available interest -bearing account would not be expected to <br />earn interest in excess of $500 per year on Federal cash balances. <br />(iii) The depository would require an average or minimum balance so high that it <br />would not be feasible within the expected Federal and non -Federal cash resources. <br />(iv) A foreign government or banking system prohibits or precludes interest bearing <br />accounts. <br />(9) Interest earned amounts up to $500 per year may be retained by the non -Federal entity <br />for administrative expense. Any additional interest earned on Federal advance <br />payments deposited in interest -bearing accounts must be remitted annually to the <br />Department of Health and Human Services Payment Management System (PMS) <br />through an electronic medium using either Automated Clearing House (ACH) <br />network or a Fedwire Funds Service payment. Remittances must include pertinent <br />information of the payee and nature of payment in the memo area (often referred to as <br />"addenda records" by Financial Institutions) as that will assist in the timely posting of <br />interested earned on federal funds. Pertinent details include the Payee Account <br />Number (PAN) if the payment originated from PMS, or Agency information if the <br />payment originated from ASAP, NSF or another federal agency payment system. The <br />remittance must be submitted as follows: <br />(i) For ACH Returns: <br />Routing Number: 05 103 6706 <br />Account number: 3 03 000 <br />Bank Name and Location: Credit Gateway—ACH Receiver St. Paul, MN <br />(ii) For Fedwire Returns*: <br />Routing Number: 021030004 <br />Account number: 75010501 <br />Bank Name and Location: Federal Reserve Bank Treas NYC/Funds Transfer <br />Division New York, NY <br />(* Please note organization initiating payment is likely to incur a charge from <br />your Financial Institution for this type of payment) <br />Agreement No. R18AP00081 Agreement Template <br />2 0 D -2 5 (03/2019) <br />