IFTA Annual Interest Rates

IFTA Annual Interest Rate

     

US Jurisdictions Changing US Interest Rate



Prior to July 1, 2013

12%

Effective Date IRS Underpayment Rate IFTA Annual Interest Rate
1/1/2024 8% 10%
1/1/2023 6% 8%
1/1/2022 3% 5%
1/1/2021 3% 5%
1/1/2020 5% 7%
1/1/2019 5% 7%
1/1/2018 4% 6%
1/1/2017 4% 6%
1/1/2016 3% 5%
1/1/2015 3% 5%
1/1/2014 3% 5%
7/1/2013 3% 5%

R1230 INTEREST

     Effective July 1, 2013, the IFTA Articles of Agreement, Section R1230.100 will provide as follows:

.100 U.S. Jurisdiction Interest Rate

"For a fleet based in a U.S. jurisdiction, interest shall be set at an annual rate of two (2) percentage points above the underpayment rate established under Section 6621(a)(2) of the Internal Revenue Code, adjusted on an annual basis on January 1 of each year. Interest shall accrue monthly at 1/12 this annual rate. The Repository shall notify Jurisdictions of the new rate by December 1.

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