Mercury payments in excess of $999.99 cannot be processed. If the payment exceeds this amount, prepare additional Forms 552.
Example: If an underpayment is $1,470, prepare one Mercury Form 552 for $999.99 and a 2nd Mercury Form 552 for $470.01.
If an underpayment occurs and the cash payment is being reduced due to a recoupment of an overpayment:
- (FCRC) Compare the underpayment to the overpayment:
- If the underpayment is more than the overpayment, apply the underpayment to the overpayment.
- If the underpayment is less than the overpayment,
- (FCRC) Complete Change of Overpayment Information (Form 2404C).
- Send Form 2404C to: Field Recovery Unit, Bureau of Collections, Springfield.
- (FCRC) Approve the difference between the underpayment and overpayment as the balance due, if the underpayment is more than the overpayment.