What happens if the ending deposit account balance entered on Form OP-515, Beverage Container Deposit Report, Line 10 (Special Account Balance at Close of Quarter) is a negative number?
If the ending deposit account balance entered on Form OP-515, Line 10 (Special Account Balance at Close of Quarter) is a negative number, the deposit initiator does not make a payment to the state. On the next quarterly report that is due, the deposit initiator will: 1) enter a zero on Form OP-515, Line 1 (Beginning Balance in Special Account); and 2) enter the amount listed on Line 10 (Special Account Balance at Close of Quarter) as a positive number on Line 8 (Amount by Which Withdrawals for Bottle Deposit Refunds Exceeded Bottle Deposits in Previous Quarter).
Related Questions
- In completing Form OP-515, Beverage Container Deposit Report, what amount is to be entered on Line 1 (Beginning Balance in the Special Account)?
- May a deposit initiator file Form OP-515, Beverage Container Deposit Report, in paper form or by phone?
- Who requires a Progress Report? What happens if I do not submit a progress report form?
